4811 S Elizabeth Street, Chicago IL 60609
Property Description
Great Value-Add Investment Opportunity - Legal 3-Unit Building Excellent opportunity for investors or rehabbers looking to add value. This legal 3-unit building offers strong income potential and is being sold with two long-term tenants in place. Current rents are well below market value, providing excellent upside potential. One tenant has occupied the property for over 30 years, and the other for over 10 years. The vacant garden/basement with a newer furnace (2024) is ready for updating before occupancy. Each apartment features 2 bedrooms plus a versatile bonus room that can be used as a home office, pantry, or additional storage. This property includes an enclosed rear porch. Additional features include an unfinished attic with potential for future use (subject to city approvals), a detached garage, and a spacious backyard. The building is in need of updating throughout and offers an excellent opportunity for renovation and increased value. Property is being sold AS IS. Listing agent related to seller. Schedule your tour today!
Features & Information
Key Details
- List Price $259,900
- Property Taxes $1,793
- Year Built 1893
- Status Active
- List Market Time 7
Units
-
Unit 1
- Floor B
- Rooms 5
- Beds 2
- Baths 1
- Appliances None
- Rent $0/mo
- Tenant Pays Electric,Gas,Heat
- Lease Expires n/a
-
Unit 2
- Floor 1
- Rooms 5
- Beds 2
- Baths 1
- Appliances None
- Rent $400/mo
- Tenant Pays Electric,Gas,Heat
- Lease Expires month
-
Unit 3
- Floor 2
- Rooms 5
- Beds 2
- Baths 1
- Appliances None
- Rent $450/mo
- Tenant Pays Electric,Gas,Heat
- Lease Expires month
Exterior Features
-
Parking
- # of Cars: 2
Building Information
- Number of Units 3
- Age of Building 100+ Years
Location
- County Cook
- Township Lake
- Corporate Limits Chicago
- Directions to Property East On 47th Street To Throop, South On Throop To 48th Street, East On 48th Street To Elizabeth Street, North On Elizabeth To 4011.
-
Schools
- Elementary School District 299
- Junior High District 299
- High School District: 299
-
Property Taxes
- Tax 1793
- Tax Year 2023
- Tax Exemptions None
- Parcel Identification Number 20081150060000
Listed by Elizabeth Maldonado for @properties Christie's International Real Estate | Source: MRED as distributed by MLS GRID
Based on information submitted to the MLS GRID as of 8/13/2026 9:02 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Explore Back of the Yards
The Back-of-the-Yards neighborhood is one of the original communities of the American Industrial Revolution. This was the site of radical social change that moved the country forward with progress in labor relations and how society views laborers. The slaughterhouses and harsh working conditions attracted both reformers and authors who acted as advocates for the everyman. Now the neighborhood is an intriguing place to explore, with a plethora of parks and a strong, diversified community that is expanding on its industrial base. Classic Chicago bungalows are joined by other single-family homes and some condominium conversions to give homeowners a wide range of real estate to choose from. Specialty grocery stores and an international selection of restaurants round out the backdrop of Chicago's Back-of-the-Yards neighborhood.
Mortgage Calculator
- List Price${ formatCurrency(listPrice) }
- Taxes${ formatCurrency(propertyTaxes) }
- Assessments${ formatCurrency(assessments) }
- List Price
- Taxes
- Assessments
Estimated Monthly Payment
${ formatCurrency(monthlyTotal) } / month
- Principal & Interest${ formatCurrency(monthlyPrincipal) }
- Taxes${ formatCurrency(monthlyTaxes) }
- Assessments${ formatCurrency(monthlyAssessments) }
All calculations are estimates for informational purposes only. Actual amounts may vary.