$459,500

2714 W LEXINGTON Street, Chicago, IL 60612

5 beds |
3 baths

Multi-Family Home
Built in 1893
—— sqft lot
—— car garage
$——/sqft
Listed ——

Property Description

This classic Chicago greystone two-flat in the West Side checks every box for the value-add investor or owner-occupant: updated systems, below-market rents, and a neighborhood in the middle of a real transformation. With iconic bay window architecture, solid masonry construction, and a freshly updated profile from foundation to roof, this building is ready for its next chapter. Major improvements completed in 2026 mean the heavy lifting is already done. Two brand-new water heater tanks, a fully resurfaced roof, and structural reinforcements give the next owner the confidence to walk in and focus on upside rather than repairs. The foundation is solid, the systems are fresh, and the returns are within reach. The building offers strong income potential across three levels. Unit 2 features three bedrooms, one bath, and original hardwood floors. Unit 1 offers two bedrooms, one bath, and a flexible layout. The semi-finished basement includes a living room, bedroom, full bath, half-bath, and rough plumbing for a future kitchen, making it a natural candidate for a duplex-down conversion or in-law suite. Both units are currently tenant-occupied on month-to-month leases at below-market rents, meaning day-one income with immediate room to grow. Raise rents to market rate, activate the basement conversion, or house-hack and let your tenants cover your mortgage. The location only adds to the case. Minutes from the Illinois Medical District, Little Italy, Garfield Park Conservatory, and Cinespace Chicago Studios, this property sits in the path of serious capital. The $7 billion United Center 1901 Project is just five minutes away and accelerating demand across the entire west side corridor. Easy access to I-290 and the CTA Blue Line keeps tenants happy and vacancy low. Seller is a licensed real estate broker in the State of Illinois.

Listing Status:: Active
Data Last Updated:: July 24, 2026 at 7:18AM
Listing Office:: Baird & Warner : 801-865-9047
Listing Agent:: Josh Reighard : 801-865-9047
MLS ID:: 12699187

Basement: Partially FinishedPartial
Heating: Natural GasSteam

Style: Greystone
Parking: AssignedYesOwnedParking spaces: 2

General: Greystone

HOA Amenities: CurbsGatedSidewalksStreet LightsStreet Paved
Originating MLS: mred
School District: 299
County: Cook

Zoning: MULTI16134040370000
Fencing: Fenced

Water: Lake Michigan
Sewer: Public Sewer

Source: mred
Ownership: Fee Simple

This listing courtesy of Josh Reighard , Baird & Warner

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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