5759 N Elston Avenue Chicago, IL 60646
OVER $200,000 IN IMPROVEMENTS over the last three years! This is not a flip, just a well-managed and exceptionally improved opportunity in Jefferson Park featuring a legal 2-flat with a finished English garden unit. A rare find! Especially with BOTH upper units offering 3 bedrooms and 1.5 baths. Extensively updated in 2024-2025, this turnkey property delivers the space, condition, and income potential investors and owner-occupants are looking for. Both legal units feature spacious layouts, separate dining rooms, additional kitchen/dining areas, recessed lighting, and beautifully updated kitchens with quartz countertops, stainless steel appliances, and ample cabinetry. Updated bathrooms and modern finishes make these units stand out. The improvements go well beyond cosmetics, including a new roof, windows, gutters, tuckpointing, flooring, kitchens, bathrooms, and an upgraded rooftop deck over the garage-all completed in 2024-2025. Enjoy the benefits of substantial recent investment without the immediate expense of major renovations. The income is already working for you! Unit 1 is leased at $2,650/month, and Unit 2 at $2,400/month, generating $5,050/month or $60,600 annually in current gross rental income. The finished garden unit is currently vacant and offers 2 bedrooms and 1 full bath, presenting additional flexibility for an owner-occupant, extended household, or potential rental income, subject to applicable zoning, permits, and legal occupancy requirements. If approved for rental use, estimated rent of $2,300/month could bring potential gross income to $7,250/month or $87,000 annually. Explore the short-term rental opportunity! AirDNA market data provided by the seller indicates an average daily rate of $116 and 69% occupancy. At those market benchmarks, a qualifying short-term rental could generate approximately $29,200 in gross annual booking revenue for one unit. Combined with the existing leases, the property presents a potential gross revenue opportunity of approximately $89,800 annually, assuming the garden unit is legally approved for short-term rental use and achieves the stated market performance. Actual results will vary, and gross revenue excludes operating expenses. Additional features include rear decks, a rooftop deck over the 2-car garage, shared outdoor space, and coin-operated laundry. Enjoy convenient access to the Kennedy Expressway (I-90/I-94), O'Hare International Airport, and the Jefferson Park transportation hub, with CTA Blue Line and Metra connections. Nearby shopping and everyday conveniences include Jefferson Park Plaza, Gladstone Corners, Mariano's, and Jewel-Osco, along with neighborhood restaurants, cafes, parks, and local businesses.
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Listing Office: MPower Residential Brokerage LLC
Listing Office Phone: 312-498-8473
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Member Participants (and their affiliated licensees, if applicable) shall indicate on their websites that IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.
Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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