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5007 W Diversey AVE Chicago, IL 60639
6,716 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 6,716 sqft
Price per Sqft $147
MLS Listing ID 12640176
Maintenance Fees $1,000
Year Built 1970
Annual Tax Amount $15,676
Tax Year 2024
Lot Dimensions 44 X 124
Property Sub-Type Multi Family 5+
Property Description
Turnkey 6-unit investment opportunity in the highly desirable Belmont Cragin neighborhood. This well-maintained 1970s yellow brick building features a strong unit mix with five 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, all above grade with spacious layouts and eat-in kitchens. Many units have been updated over time, with no deferred maintenance and consistent ownership care. The property offers operational efficiency with tenant-paid heating in select units, helping reduce owner expenses. A leased coin-operated washer and dryer provides additional income potential. Hardwood floors on upper levels, updated bathrooms in most units, and strong long-term tenancy contribute to stable in-place cash flow. Major improvements include a newer water heater (approximately 3 years old) and a roof estimated at 10-12 years old. The building sits on a generously sized lot with 5 off-alley parking spaces, further enhancing tenant demand and rental stability. Ideally located with convenient access to Diversey, Cicero, and Fullerton, the property benefits from strong transportation options including CTA bus routes, nearby Metra access, and quick connectivity to the Kennedy Expressway (I-90/94). Minutes from Brickyard Mall, grocery stores, dining, and retail. Nearby Riis Park offers a pool, fitness center, and expansive recreational amenities. Strong walkability (Walk Score 83), along with solid transit and bike access, supports long-term rental demand. Investment Highlights: Strong in-place income with upside potential through continued unit updates and rental optimization. Opportunity to increase rents to market levels, improve expense efficiency, and enhance overall NOI. Ideal for investors seeking a stabilized asset with both immediate cash flow and long-term appreciation potential. Financials, rent roll, and pro forma projections available upon request.
Location
State IL
County Cook
Area Chi - Belmont Cragin
Zoning MULTI
Rooms
Basement None
Interior
Cooling Wall Sleeve
Fireplace N
Exterior
Roof Type Tar/Gravel
Building
Dwelling Type Multi Family 5+
Structure Type Brick,Concrete
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Randy Ghanayem of Coldwell Banker Real Estate Group
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