1012 N 24th Avenue Melrose Park, IL 60160
MULTI_FAMILY - Melrose Park, IL
- Added:
- Jul 8, 2026
- Days on Market:
- 5
- Last Refresh:
- Jul 12 at 3:06 am
Property Features for 1012 N 24th Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- MULTI
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 3, Basement, Bedroom 4, Bedroom 5, Bedroom 1, Bedroom 6
- Parking
- 3
- Parking features
- Open, Garage
- Fencing
- Fenced
- Basement
- Finished, Walk-Out Access, Full
- Standard status
- Active
- APN
- 15033320130000
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 5457
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Water source
- Public
Building Details
- Year built
- 1894
- Building materials
- Brick
- Roof type
- Asphalt
Listing agent Oralia Herrera License #471000493 (630) 543-7000
Listing office T.K. Realty Inc 861 W. Lake Street, Addison, IL (630) 543-7000
Listing date Jul 8, 2026
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is located in Melrose Park near the Civic Center and nearby soccer fields. Public transportation and the Melrose Park Metra Station are also described as being nearby, with easy access to major expressways.
For buyers seeking a duplex with distinct utilities and two full, family-sized floorplans, this setup supports straightforward leasing and resident convenience, including in-unit laundry and dedicated HVAC for each unit. On-site parking is addressed with a detached two-car garage and additional parking space, which can be a practical benefit for tenants. The 2023 renovation to the lower unit adds recent updates to one of the two homes, supporting continued functionality for an owner-operator or investor.
Key Highlights
- All‑brick 2‑flat built in 1894 with public water and public sewer
- Upper unit features 3 bedrooms and 1 full bathroom, plus central air and in‑unit laundry
- Lower unit features 3 bedrooms and 1 full bathroom; renovated in 2023 with modern finishes and stainless steel appliances
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.1k | $20.04 |
| − Vacancy | −$3.5k | −$1.50 |
| EGI | $42.6k | $18.54 |
| − OpEx | −$12.8k | −$5.56 |
| NOI | $29.8k | $12.98 |
