Lakeview Multi-Family Investment Property With $7K Monthly Income: 1507 W George St, Chicago, IL 60657

Property Snapshot: 1507 W George St, Chicago, IL 60657

Address: 1507 W George St, Chicago, IL 60657
Price: $1,395,000 (Pricing and availability subject to change)
Bedrooms: 7
Bathrooms: 4.5
Property Type: Multi-Family
Parking: 3 Rear Parking Spaces Included
Presented by: Serena Phillips-Dunn | The Cory Tanzer Group | Option Premier | serena@optionpremier.com | (312) 468-0328 | License: 475.173716

This Lakeview multi-family property offers a rare investment opportunity with $7,000/month in current rental income, long-term tenants in place, and clear value-add potential through aesthetic updates and future rent growth. Built in 1994, the 4-story brick and block building includes three separate units across a portfolio of three individual condo PINs, with potential to convert to a single tax PIN.

The property features 7 total bedrooms, private rear balconies for every unit, in-unit washer and dryer, central HVAC, individual water heaters, and separately metered utilities. Unit #3 is a spacious 3-bedroom, 2-bath duplex-up with vaulted ceilings and 1,862 square feet, while Unit #2 offers 2 bedrooms and 1 bath with 919 square feet, and Unit #1 is a 2-bedroom, 1-bath garden-level unit with 907 square feet. Additional property features include a private fenced backyard and three rear parking spaces.

Located in one of Chicago’s most desirable rental neighborhoods, this property sits near Jewel-Osco, the Diversey train, buses, dining, shopping, and everything Lakeview has to offer. With RT-3.5 zoning, below-market rental income, flexible exit strategies, and long-term redevelopment potential, this is a strong opportunity for investors seeking cash flow, location, and upside in a high-demand North Side market.

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