What $500K Bought in Portage Park: A Renovated 2-Unit Home With 4 Bedrooms
A recent closing at 4060 N Melvina Ave offers a useful benchmark. The renovated 2-unit property closed for $500,710 on August 27, 2026, with four total bedrooms and two bathrooms across two separate residences.
For buyers interested in both neighborhood living and multi-unit ownership, the property offered a combination of updated interiors, flexible layouts, outdoor space and separate parking within one of Chicago’s established Northwest Side communities.
What $500K Bought in Portage Park
Each residence includes two bedrooms and one full bathroom, giving the property a straightforward two-unit layout that can work for several types of ownership.
The first unit features a bright living room, renovated bathroom with porcelain tile and an updated kitchen with quartz countertops, stainless steel appliances and ample cabinetry. A dedicated laundry hookup adds everyday convenience.
The second residence also includes two bedrooms plus a flexible bonus room, creating space that could function as an office, laundry area, guest room or other secondary use. Its kitchen and bathroom were also updated, and this level includes its own laundry.
Outside, the property adds a large yard, deck area and separate parking for each unit.
Buyers still getting familiar with the neighborhood can explore Option Premier’s Portage Park neighborhood guide for a broader look at the area, housing styles and transportation options. Option Premier notes that two-flats are among the housing types commonly found in Portage Park.
Why a 2-Unit Property Creates More Options
A multi-unit property can appeal to more than one type of buyer.
An owner-occupant may choose to live in one residence while keeping the second unit available for rental income or extended household needs. An investor may evaluate both units together as an income-producing asset.
That flexibility is part of what makes Chicago’s two-flat and small multi-family housing stock distinctive. Buyers exploring that strategy in greater detail can also read Option Premier’s Chicago investment property guide for beginners, which discusses two-flats, three-flats and owner-occupant investment strategies.
Property Details
Property: 4060 N Melvina Ave, Chicago, IL 60634
Community: Portage Park
Status: Just Closed
Closed Date: August 27, 2026
Sale Price: $500,710
Property Type: 2-Unit Multi-Family Property
Bedrooms: 4 Total
Bathrooms: 2 Total
Parking: Separate parking for each unit
Outdoor Space: Large yard and deck area
Represented By: Brian Caron of The Cory Tanzer Group at Option Premier
What Does Around $500K Buy in Portage Park?
This $500,710 closing gives buyers another reference point for evaluating multi-family properties in Portage Park.
At this price, the buyer secured two separate residences, four total bedrooms, renovated kitchens and bathrooms, laundry functionality, outdoor space and parking.
For buyers comparing Portage Park multi-family homes, the number of units is only the beginning. Condition, floor plans, parking, outdoor space, separate utilities or laundry, rental potential and renovation quality can all influence how one property compares with another.
Explore Portage Park Multi-Family Homes
Looking for a two-flat or multi-family home in Portage Park, or considering selling one?
Brian Caron of The Cory Tanzer Group at Option Premier can help buyers and sellers compare current inventory, recent sales, property condition and neighborhood pricing before making their next move.
PORTAGE PARK REAL ESTATE
Meet Brian Caron, Your Local Portage Park Real Estate Expert
The Cory Tanzer Group at Option Premier
Brian Caron is a local Portage Park real estate expert and longtime Chicago broker helping buyers and sellers navigate residential and multi-family opportunities throughout Chicago. A city resident for more than 20 years and a real estate professional for approximately two decades, Brian combines neighborhood knowledge, client education and skilled negotiation to help clients make informed decisions throughout the buying and selling process.
Ready to Work With a North/NorthWest Suburbs Expert?
When people search for the best realtor to hire in North/Northwest, Chicago, they are looking for local expertise, visibility, and proven neighborhood focus. The Cory Tanzer Group at Option Premier continues to be a trusted authority for University Commons real estate.
Thinking about buying or selling? Connect with our team and discuss current opportunities and recent sales activity.
