2531 W Lyndale St

Chicago IL 60647

Multi-Family

Last sold for $900,000

Derek Disera, last sold this property on 20 October 2025 after 123 days on market.

Overview

Stunning rehabbed legal 4-unit in the Heart of Logan Square/West Bucktown! This multi-unit building is currently operating as a rehabbed 3-unit with a legal, 4th unit that is currently an unfinished garden apartment. This very large building was recently beautifully rehabbed and features a Brand NEW ROOF, very large, rear addition and huge rehabbed 1ST FLOOR UNIT SIMPLEX + 2 Rehabbed DUPLEXED UNITS ON THE 2ND & 3RD FLOORS (front & rear) + an unfinished (but legal) 4th garden apartment. - UNIT #1 - Covers the entire first floor of the building and is a 2-bed/2-bath featuring a recently rehabbed & stunning chef's kitchen w/ granite countertops, breakfast bar, 42-inch cabs, high-end appliances, and custom backsplash, Full dining room & spacious living room w/ large master suite in the rear, (two full updated bathrooms) and in-unit laundry, hardwood floors, can lighting, newer windows, perfect for a live-in owner! - Both upper units (#2F & 2R) are newly rehabbed, super-bright duplex-ups w/ new HVAC (GFA w/ Central A/C), in-unit laundry, new kitchens & baths, hardwood floors throughout and great open layouts UNIT #2F is a large 2-bedroom + den with 1 full bath. UNIT #2R is also a large 2-bedroom with 1.5 baths. Terrific income-producing property, currently generating $6,780 PER MONTH TOTAL and breakdown as follows; *UNIT #1 @ $2,190 per mo and on a month-to-month lease (been there 3 years), *UNIT #2F @ 2,190 per month and lease expires 9/26 (2 years) & *UNIT #2R @ $2,400 and lease expires 9/26 (new tenant). The basement is currently unfinished, but it is a legal 4th garden unit and can be finished for $160K. ***EXCELLENT TOTAL ANNUAL INCOME of $81,360 minus - $16,336 in expenses (RE taxes, water & insurance) = $65,024 (NOI) TOTAL ANNUAL NET OPERATING INCOME for a Solid 7.4% CAP RATE.***Also, investing an additional $160K in finishing the legal 4th garden unit, brings the CAP rate up to 8.8%!! (We have the certificate of zoning from the city in hand showing 4 legal units). A+ location, quiet one-way street, close to all the great restaurants, coffee shopping, night-life, parks & excellent schools in the Logan Square/Bucktown area with excellent transportation options and a short walk to both the Western Blue Line or California stops, easy access to 90/94, close to The 606 bike path & more!!! ***Note***The 2 current tenants have indicated they will waive their right of 1st refusal under Chicago's N/W Side Preservation Ordinance, Tenant Opportunity to Purchase (606) Block Pilot Program).

Features

8 bedrooms

5 bathrooms

2 carspaces

2 garage spaces

Multi-Family

Estimated Value

Based on this property and similar 8 bedroom multi families sold in Chicago over the last 12 months, the estimated median property value of 2531 W Lyndale St is $1.05m.

Median value

$1.05m

Estimated value range

$720k - $1.55m

Median days on market

Estimated value trend

20%

increase over the last 12 months

Average days on market is based on recent, comparable sales in Chicago. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 2531 W Lyndale St

2025

Sold

$900,000

20 Oct 2025 by Derek Disera, of Compass

2017

Sold

$650,000

25 May 2017 by Brady Miller, of ALLURE Real Estate

2016

Sold

$530,000

15 Jul 2016 by Elizabeth Avila, of Baird & Warner

Happy sellers in Chicago

We have insufficient information to provide an overview of customer satisfaction for Chicago. Viewing the agent profiles, reviews and sales for Chicago can provide insights for this location.