3314 West Carroll Avenue

Off Market

3314 West Carroll Avenue

Chicago IL 60624

Multi-Family

Last sold for $275,000

Sohail Salahuddin, last sold this property on 07 August 2025 after 78 days on market.

Overview

Imagine the possibilities at 3314 W Carroll Ave, a vacant, all-brick three-unit in Chicago's dynamic 60624. This property isn't just gutted; it's a blank canvas with stamped drawings and approved permits in hand to transform it from a five-bedroom, three-bath layout into a modern six-bedroom, three-bath configuration. Backed by a current zoning certificate and a recent survey, the groundwork for your vision is complete. The current owner has already tackled the heavy lifting: demolition, debris removal, framing, and preliminary plumbing and electrical rough-in (including plumbing risers and the service panel). Adding even more value, approximately $15,000 worth of rough plumbing and electrical materials, such as water heaters, conduit, and copper lines, will be made available to the buyer. Once built out, easily achievable, projected rents of $1,950 per unit translate to $71,000 in potential annual income-equating to a 6.2 GRM and a conservative 7.0 cap rate, with clear upside through finish upgrades and tight expense control. A disciplined 10-year hold at current annual appreciation could grow value to roughly $714,000 by 2035; combined with mortgage amortization, cash flow, and an assumed 6.5 exit cap rate, investors eyeing a 2.5 equity multiple will find this exit scenario compelling. Just minutes from the CTA Green Line, I-290, and West Loop employment centers, this property blends transit access with neighborhood revitalization like the $7 billion 1901 Project. With permits secured, surveys completed, and essential rough-ins in place, 3314 W Carroll Ave is primed for a swift and high-return renovation. Don't miss the chance to capitalize on the exciting renaissance underway on Chicago's west side. Schedule your walkthrough today and experience the potential firsthand! Property is being conveyed AS-IS

Features

6 bedrooms

3 bathrooms

4 carspaces

Multi-Family

Estimated Value

Based on this property and similar 6 bedroom multi families sold in Chicago over the last 12 months, the estimated median property value of 3314 West Carroll Avenue is $342.5k.

Median value

$342.5k

Estimated value range

$115k - $635k

Median days on market

Estimated value trend

32%

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 3314 West Carroll Avenue

2025

Sold

$275,000

07 Aug 2025 by Sohail Salahuddin

2025

Sold

$235,000

13 Feb 2025 by Dimitia McIntyre, of Blue Master LLC

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.

Local market activity for 6 bedroom multi families in Chicago

In the last 12 months, 39 six-bedroom multi families similar to 3314 West Carroll Avenue, have been sold.

This represents a 22% decrease in six-bedroom multi families sales when compared to the previous 12 months.

Sold

For Sale

Interested in selling?

People are reaching out to these agents in Chicago for a market analysis.

Sebastian J Hernandez

at Baird & Warner

(109 reviews)

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Leslie Broughton

4.9

(10 reviews)

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Cecil Sabu

at ALLURE Real Estate

(17 reviews)

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Robert F Alvarado

at Smart Home Realty

(21 reviews)

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Sebastian J Hernandez

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