5861 N Magnolia Ave.

5861 N. Magnolia Ave. is a traditional Chicago three-flat located in the desirable Magnolia Glen neighborhood within Chicago's Edgewater community. The building is comprised of two (2) three bedroom/1.5 bath and one (1) three bedroom/one bath. The first-floor unit is a duplex down, though the lower level is currently sealed off and being used as storage. Each apartment features decorative fireplaces, hardwood floors throughout, spacious bedrooms with generous closet space, a formal dining room, updated kitchen with white appliances and wood cabinetry. In addition, the building provides free laundry in the basement. Building mechanicals include a Peerless boiler (2012), 72 gallon hot water tank (2012), copper plumbing, a recently resurfaced roof (2020). The property also includes three surface parking spaces in the rear. Presently, all three apartments are fully furnished, short-term rentals. However, current ownership is in the process of converting units to 12-month leases. This is a perfect fit for investors looking to add value by opening up the duplex unit on the first floor and converting the unit into a 4Bd/2Ba OR for an owner occupant. ***NOTE: This property can be purchased along with the property next door, 5865 N. Magnolia (#11327486)