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Listed by Michael Applegateof Straight-A Realty, LLC
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Est. payment /mo
Active
4837 S Forrestville Avenue #1 Chicago, IL 60615
2 Beds
2 Baths
1,600 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Condo,Garden Unit
Listing Status Active
Purchase Type For Sale
Square Footage 1,600 sqft
MLS Listing ID 12586052
Bedrooms 2
Full Baths 2
Annual Tax Amount $4,130
Tax Year 2024
Lot Dimensions CONDO
Property Sub-Type Condo,Garden Unit
Property Description
This garden-level 2-bedroom, 2-bath condo in the heart of Bronzeville offers a rare opportunity to own a spacious, affordable unit with over 1,500 square feet of living space and strong long-term upside in one of Chicago's most vibrant and growing neighborhoods. The unit features an open and functional layout with hardwood floors, stainless steel appliances, a cozy gas-log fireplace, and a versatile den-perfect for a home office or additional living space. The open kitchen, living, and dining areas provide a comfortable flow for everyday living, while central A/C and a private parking space add convenience. A major advantage of this property is the absence of a traditional monthly association fee, which can significantly reduce your overall monthly housing expense and improve cash flow. The building operates under recorded condominium documents; however, it has historically functioned without an active association collecting dues, and the current owner has not paid association fees or special assessments during over 10 years of ownership, offering a unique low-carrying-cost ownership experience. The seller will provide full transparency regarding this history along with available condominium documents, written disclosures, and title-backed protections so buyers clearly understand the structure and can move forward with confidence. From an investment standpoint, similar 2-bedroom units in the Bronzeville area are currently renting in the range of $1,500 to $1,800+ per month depending on condition and finishes, and with over 1,500 square feet and a flexible layout, this unit has the potential to perform at the higher end of that range once refreshed. The property has a proven rental track record, having been occupied by a long-term CHA voucher tenant who paid consistently and vacated honorably, and the unit successfully passed regular CHA inspections during that tenancy. While the unit shows some normal wear from long-term occupancy, it is being sold as-is, presenting an excellent opportunity for a buyer to update and customize the space to their own taste while building equity. Located on a quiet, tree-lined street just minutes from parks, restaurants, shopping, public transportation, and the lakefront, this Bronzeville condo is ideal for both owner-occupants and investors looking to secure a well-positioned asset with low carrying costs, strong rental potential, and long-term neighborhood growth.
Location
State IL
County Cook
Rooms
Basement None
Interior
Heating Natural Gas
Cooling Central Air
Flooring Hardwood
Fireplaces Number 1
Fireplaces Type Gas Log
Fireplace Y
Appliance Range, Microwave, Refrigerator, Washer, Dryer
Laundry In Unit
Exterior
View Y/N true
Building
Sewer Public Sewer
Water Lake Michigan
Structure Type Brick
New Construction false
Schools
School District 299, 299, 299
Others
Pets Allowed Cats OK, Dogs OK
HOA Fee Include None
Ownership Condo
Special Listing Condition None
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