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    3816 W Montrose Ave Chicago, IL 60618

    For Sale
    $895,000

    Three-unit property with storefront, apartments, and coach house.

    Property Features for 3816 W Montrose Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    1913

    Source: CEDAR REALTY Agent LORA VASILEVA

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Property: Live/Work Opportunity

    This three-unit property presents an investment opportunity or suits an owner looking for a live/work arrangement. The roof was replaced two years ago, and the two-bedroom unit and coach house feature updated electrical systems. The 1600-square-foot storefront is currently leased to a catering/restaurant business on a month-to-month basis, offering flexibility to the new owner. The second floor contains a renovated two-bedroom, one-bathroom apartment with an enclosed porch and outdoor patio, which is currently rented out. This apartment includes in-unit laundry, a custom kitchen with stainless steel appliances and granite countertops, hardwood floors, a private entry, and central air and heat. The coach house in the back has been fully renovated and offers a three-floor living space with four bedrooms and two bathrooms, functioning like a single-family home. It features a new kitchen and two new bathrooms, along with in-unit laundry. The estimated market rent for the coach house is $3600, which is factored into the Gross Rental Income calculation. Public transportation is located nearby.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chef Rafael & Son's ... Continental Restaurant Los Nuevos Chefs ... Mexican Restaurant

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7237023
    Latitude
    41.9612601

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    FAQs

    What type of property is this?
    Mixed-use property - Three-unit property with storefront, apartments, and coach house.
    Where is this mixed-use property located?
    The property is located at 3816 W Montrose Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: - Excellent investment opportunity or ideal for a live/work setup with a 1600 sq ft storefront currently operating as a catering/restaurant business.; - Fully renovated 4-bedroom/2-bath coach house with in-unit laundry, feels like a single-family home, and has an estimated market rent of $3600.; - Recently renovated 2-bedroom apartment boasts in-unit laundry, custom kitchen with stainless steel appliances and granite countertops, hardwood floors, private entry, central air/heat, enclosed porch, and outdoor patio.
    (773) 549-7200
    Request Owner's contact information
    3816 W Montrose Ave Chicago, IL 60618
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    Chicago, IL 60618
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3816 W Montrose Ave Chicago, IL 60618
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