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422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
422 S Madison Avenue
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$879,000

422 S Madison Avenue

6 Beds 3 Baths 9,147.6 Sq.Ft.

Description

Welcome to a rare, in-town 3-Flat with an impressive investment history in the sought-after La Grange Historic District. This turnkey and income-generating property could be opportunity you have been waiting for. For the current, retiring owners, renting the apartments has been a breeze in this highly desirable location. This oversized vintage 3-flat sits on a rare 75-foot-wide lot and offers a winning combination of classic charm and modern updates - just a few short blocks to shops, restaurants, train station, highly-ranked Cossitt Elementary, the library and all downtown amenities. Each spacious unit features hardwood floors, beautiful original woodwork, formal dining rooms, and eat-in kitchens - plus modernized kitchens and baths that enhance livability and provide strong rental appeal. Each unit has one covered spot in the 3.5-car garage and one outdoor space each which has helped attract long term tenants, as well as shared laundry facilities and separate storage lockers in the basement. Separate electric and gas meters for each unit help to keep operating costs in check. Owner has paid only insurance, water, lawn care, and misc. repairs as needed and has self-maintained the building. Additional highlights include: newer garage doors (2014), two new water heaters - one for unit 1 and the second for units 2 & 3 (2015), new front and rear fencing (2017), new roof (2018), new interior sewer line update (2020), new coin-operated washer and dryer (2021), new electrical upgrade to 3 circuit breakers - one for each unit (2022). Appliance updates include: Unit 1- a new microwave; Unit 2- new microwave and stove; and Unit 3- a new refrigerator and brand new stove. This fully leased property brings in strong rents with stable, happy tenants and could be an ideal opportunity for your next investment. Don't miss this rare chance to own a turnkey multi-family in a sought-after, in-town location!

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Location

422 S Madison Avenue, La Grange, IL 60525

Status

Sold
Anne Hodge

Anne Hodge

TITLE

Real Estate Agent

LICENSE

475160074

Property Amenities

Interior
Total Bedrooms: 6
Area & Lot
Lot Area 9,147.6 Sq.Ft.
MLS® ID 12489283
Year Built 1916
School District 204
High School Lyons Twp High School
Middle School Park Junior High School
Elementary School Cossitt Avenue Elementary School
Type Multi-Family
Status Sold
Exterior
Heat type Natural Gas, Steam
Water Source Lake Michigan
Garage Space 4.0
Sewer Public Sewer
Parking Yes, Garage Owned, Detached, Garage
Finance
Sales Price $879,000
Real Estate Tax $14,816 yearly

La Grange

A suburban gem with a metropolitan soul

Work With Anne

Anne thoroughly enjoys her profession and has a deep sense of responsibility to her clients. She understands the magnitude of selling or buying a home, and works tirelessly to make sure her client's goals are met.