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2309 Foster Street, Evanston, IL 60201

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For Sale

$459,999

4 beds

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Newly Listed
    Time on Century 21

  • Over 50 Years Old
    Age

Explore this Property

Investment opportunity in Evanston! This versatile duplex offers a rare combination of strong rental income, flexible layout, and house-hacking potential. Featuring a total of 4 bedrooms, 3 bathrooms, plus a unique heated bonus room with closet, the property works for both savvy investors looking for cash flow and owner-occupants hoping to produce rental income. Unit 1 (Main Level) includes 2 bedrooms, 1 bathroom, and a bonus room that has been successfully leased as a third bedroom for the past two years. It is currently occupied by a Housing Authority of Cook County (HACC) voucher tenant with a lease in place through April 2026. The unit rents for $2,899 per month, with the tenant paying $399 and HACC paying $2,500 directly to the landlord. This stable lease provides reliable, guaranteed income for the next owner. Unit 2 (Top Floor) offers 2 bedrooms and 1 bathroom. It has undergone recent updates, including a full kitchen renovation in 2022. For the past three years, it was rented to a HACC voucher tenant at $2,100 per month ($1,366 paid by HACC). The unit is now vacant, creating flexibility for the new buyer: lease it out immediately to a new tenant, or occupy it as an owner while keeping Unit 1 rented to cover a substantial portion of your expenses. Key highlights include: unique bonus room with heat and closet expanding usability of Unit 1, strong rental history with long-term Housing Authority tenants, attractive financing potential when purchased as a primary residence, use of Unit 1's guaranteed income to strengthen financing options and significantly reduce out-of-pocket housing costs, a recently updated Unit 2 that is move-in ready and ideal for tenants or an owner-occupant, and professional property management available and ready to assist with leasing Unit 2 for the next owner, ensuring a seamless transition. As-Is sale. Please respect tenant privacy - no showings of Unit 1 until after contract acceptance. With one unit already generating strong income and the second unit vacant and ready, this property practically pays for itself. Investors will appreciate the stability of a long-term HACC lease and the upside of leasing the second unit at market or voucher rates. Owner-occupants will love the ability to live in a renovated unit while dramatically reducing monthly housing expenses. This is a rare chance to secure an income-producing property in Evanston with both stability and growth potential. Contact us today for details and to take advantage of this excellent opportunity. Agent-owned.
MLS# 12464397

Courtesy Of eXp Realty, LLC

(888) 574-9405

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other

Map and Directions

Directions to 2309 Foster Street, Evanston, IL 60201

Home seller CENTURY 21 S.G.R., Inc.

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 S.G.R., Inc.

(312) 326-2121
Learn More About Us

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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