1510 S Drake Avenue, Chicago IL 60623
$569,900

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Property Description

Own Your Home While Building Your Investment Stop renting and start building equity with this exceptional 3-unit property on S. Drake Ave in Chicago. Offering a total of 11 bedrooms and 3 full bathrooms, this spacious multifamily property presents a unique opportunity for homeowners and investors alike. Live in one unit while renting out the remaining units to help offset your monthly housing expenses. This owner-occupant strategy can make homeownership more attainable while providing the potential to generate rental income and build long-term equity. Each unit offers generous living space, providing flexibility for families, guests, home offices, or additional living arrangements. Whether you're a first-time homebuyer, an FHA buyer, or an investor seeking a multifamily property, this versatile building offers multiple possibilities. Conveniently located on S. Drake Ave, the property provides access to public transportation, schools, parks, shopping, dining, and everyday amenities, making it a practical choice for both homeowners and tenants. Why continue paying rent when you can own a property that works for you? Take advantage of the opportunity to combine homeownership, rental income potential, and long-term wealth building in one property. Live in one. Rent the others. Build equity. Own your future.

Features & Information

Key Details

  • List Price $569,900
  • Property Taxes $5,243
  • Year Built 1907
  • Status Active (Private)

Units

  • Unit 1

  • Floor B
  • Rooms 5
  • Beds 3
  • Baths 1
  • Appliances Stove, Refrigerator
  • Rent $1,550/mo
  • Tenant Pays Electric,Gas,Heat
  • Lease Expires 06/27
  • Unit 2

  • Floor 1
  • Rooms 8
  • Beds 4
  • Baths 1
  • Appliances Stove, Refrigerator
  • Rent $1,850/mo
  • Tenant Pays Electric,Gas,Heat
  • Lease Expires MTM
  • Unit 3

  • Floor 2
  • Rooms 8
  • Beds 4
  • Baths 1
  • Appliances Stove, Refrigerator
  • Rent $1,850/mo
  • Tenant Pays Electric,Gas,Heat
  • Lease Expires 04/27

Exterior Features

  • Parking

  • # of Cars:  3

Building Information

  • Number of Units 3
  • Age of Building 100+ Years

Location

  • County Cook
  • Township West Chicago
  • Corporate Limits Chicago
  • Directions to Property 16th St To Drake, North To Property
  • Schools

  • Elementary School District 299
  • Junior High District 299
  • High School District: 299
  • Property Taxes

  • Tax 5243
  • Tax Year 2024
  • Parcel Identification Number 16232220220000

Listed by Aaron Vanderbilt for Baird & Warner, Inc. | Source: MRED as distributed by MLS GRID

Based on information submitted to the MLS GRID as of 10/24/2026 6:32 AM. 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.

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