Welcome to Fifth City/East Garfield Park, where opportunity knocks louder than ever before! This listing presents an unparalleled turnkey investment opportunity with boundless potential for growth. Let's delve into the remarkable features that make this property a standout choice for savvy investors: Prime Location: Nestled in the vibrant Fifth City/East Garfield Park area, this property enjoys proximity to Fifth City Commons, a newly developed 43-unit apartment complex, signaling the neighborhood's upward trajectory. Recent Renovation: A comprehensive interior renovation in 2019 ensures that this property offers modern comforts while preserving its classic charm, setting the stage for immediate occupancy or further enhancement. Investor's Dream: With 3 out of 4 current leases held by CHA tenants, this property presents a lucrative opportunity for investors seeking stable rental income. Development Potential: Positioned amidst city-owned lots earmarked for development, this property stands to benefit from the area's planned growth initiatives, driving up property values in the near future. ARO Program Inclusion: As part of the City of Chicago's Affordable Requirements Ordinance (ARO) program at 100% AMI, this building aligns with the city's commitment to affordable housing, offering potential incentives for investors. Expansion Possibilities: Approved permit plans for the addition of two garden-level units provide a clear path to substantially increase revenue streams, maximizing the property's income potential. Zoning Advantages: Zoned RM-5, this property presents opportunities for further unit additions, subject to evaluation, allowing investors to explore expansion possibilities within the regulatory framework. This property represents a gateway to a lucrative investment journey in one of Chicago's most promising neighborhoods. Don't miss out on this golden opportunity to secure your foothold in Fifth City/East Garfield Park's thriving real estate market! Pro Forma Income: (4) Units - $81,600 | (6) Units - $115,200 All units are MTM
Closed
$590,000
3123 W Monroe St, Chicago, IL 60612
12beds
--sqft
Multi Family
Built in 1905
-- sqft lot
$717,200 Zestimate®
$--/sqft
$1,948 Estimated rent
Home value
$717,200
$660,000 - $775,000
$1,948/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listing courtesy of:
Damon Dance 312-519-9065,
Devise Property Group LLC
Bought with:
Ernesto Camarillo
Century 21 Universal
Source: MRED as distributed by MLS GRID,MLS#: 12048173
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 12
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Natural Gas
Features
- Basement: Unfinished,Full
Property
Parking
- Total spaces: 2
- Parking features: Off Alley, Off Site
Lot
- Size: 4,704 sqft
- Dimensions: 48 X 98
Details
- Additional parcels included: 16131070230000
- Parcel number: 16131070220000
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Brick
Condition
- New construction: No
- Year built: 1905
- Major remodel year: 2019
Utilities & green energy
- Water: Public
Community & neighborhood
Community
- Community features: Sidewalks, Street Lights, Street Paved
Location
- Region: Chicago
Other
Other facts
- Listing terms: Conventional
- Ownership: Fee Simple
Price history
| Date | Event | Price |
|---|---|---|
| 4/23/2026 | Listing removed | $1,800 |
Source: Zillow Rentals Report a problem | ||
| 4/2/2026 | Listed for rent | $1,800 |
Source: Zillow Rentals Report a problem | ||
| 7/2/2024 | Sold | $590,000-0.8% |
Source:  MRED as distributed by MLS GRID #12048173 Report a problem | ||
| 5/11/2024 | Contingent | $595,000 |
Source: MRED as distributed by MLS GRID #12048173 Report a problem | ||
| 5/6/2024 | Listed for sale | $595,000 |
Source: MRED as distributed by MLS GRID #12048173 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | -- | $24,342 +148.5% |
| 2023 | $2,074 +2.6% | $9,797 |
| 2022 | $2,022 +2.3% | $9,797 |
| 2021 | $1,977 -35% | $9,797 -28% |
| 2020 | $3,042 +67.4% | $13,611 +51% |
| 2019 | $1,817 -39.4% | $9,014 -40.4% |
| 2018 | $2,997 -1.9% | $15,123 +6.9% |
| 2017 | $3,057 +7.8% | $14,150 |
| 2016 | $2,834 +9.3% | $14,150 |
| 2015 | $2,593 +1.5% | $14,150 +2.8% |
| 2014 | $2,553 +2% | $13,762 |
| 2013 | $2,503 +1.4% | $13,762 |
| 2012 | $2,470 -18.2% | $13,762 -26.1% |
| 2011 | $3,019 -0.4% | $18,629 |
| 2010 | $3,031 +4.4% | $18,629 |
| 2009 | $2,905 -0.1% | $18,629 -8.1% |
| 2008 | $2,909 -10.2% | $20,279 -11% |
| 2007 | $3,238 -1.1% | $22,798 |
| 2006 | $3,273 +31% | $22,798 +49.1% |
| 2005 | $2,498 +1% | $15,290 |
| 2004 | $2,473 +2.2% | $15,290 |
| 2003 | $2,419 +58% | $15,290 +79.4% |
| 2002 | $1,531 +3.8% | $8,524 |
| 2001 | $1,476 +106.5% | $8,524 |
| 2000 | $715 +0% | $8,524 +129.1% |
| 1999 | $715 | $3,720 |
Find assessor info on the county website
Neighborhood: East Garfield Park
Nearby schools
GreatSchools rating
- 4/10Faraday Elementary SchoolGrades: PK-8Distance: 0.2 mi
- NAMarshall Metropolitan High SchoolGrades: 9-12Distance: 0.1 mi
Schools provided by the listing agent
- District: 299
Source: MRED as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$717,200
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$717,200
- Illinois
- Cook County
- Chicago
- 60612
- East Garfield Park
- 3123 W Monroe St
Nearby cities
Nearby neighborhoods
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