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224 W Michael Lane, Addison, IL 60101

Addison
Local realty services provided by:CENTURY 21 New Beginnings
224 W Michael Lane,Addison, IL 60101
$699,900
  • 7 Beds
  • 4 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: esther zamudio
Office: zamudio realty group
MLS#:12783253
Source:MLSNI

Price summary

  • Price:$699,900

About this home

INVESTORS, TAKE NOTICE! EXCELLENT OPPORTUNITY TO BUILD EQUITY AND UNLOCK SIGNIFICANT RENTAL INCOME POTENTIAL! This solid, all-brick four-unit building offers an excellent opportunity for investors looking to expand their portfolio and capitalize on the strong rental potential of the area. Featuring three spacious 2-bedroom units and one 1-bedroom unit, this fully occupied property offers an established rental income stream with considerable room for growth. One of the property's standout features is its durable all-brick construction, along with seven assigned parking spaces, providing convenient and designated parking for tenants. The building also features a common utility area, newer windows, and a roof reportedly replaced in 2018, along with updates to components of the boiler system. THE REAL OPPORTUNITY LIES IN THE UPSIDE! Current rents are well below the area's potential market rates, providing an opportunity for future income growth. While the property would benefit from...

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Home facts

  • Year built:1964
  • Listing ID #:12783253
  • Updated:October 17, 2026 at 11:20 AM

Rooms and interior

  • Bedrooms:7
  • Total bathrooms:4
  • Full bathrooms:4
  • Rooms Total:15

Heating and cooling

  • Heating:Natural Gas

Structure and exterior

  • Roof:Asphalt
  • Year built:1964
  • Lot area:0.26 Acres
  • Foundation Description:Concrete Perimeter

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$699,900
  • Tax amount:$11,029 (2025)

Features and amenities

  • Amenities:CO Detectors

Parking

  • Total parking spaces:7
  • Parking description:Assigned
MLS LogoCopyright 2026 Midwest Real Estate Data LLC. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Midwest Real Estate Data LLC. Listing information is deemed reliable but not guaranteed. MLSNI Member Broker: Vivian Galarza

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