Excellent investment opportunity in Chicago's East Garfield Park neighborhood! This three-unit property offers strong income-producing potential with extensive improvements throughout, including updated plumbing and electrical systems, new flooring, updated tile, fresh paint, newer boilers, and a newer furnace. Two of the three units have been recently renovated, while the third is currently tenant-occupied, providing an opportunity for immediate rental income. The property features an enclosed metal fence and convenient access to major expressways, public transportation, and downtown Chicago. All three units offer potential for participation in the Housing Choice Voucher program, subject to applicable program requirements and approvals. Investors may also explore the possibility of converting the property into three individual condominium units, subject to municipal approvals and applicable legal requirements. Whether you're looking to expand your rental portfolio or explore future investment opportunities, this well-located three-flat offers flexibility and long-term potential. Schedule your showing today!
Active
$575,000
331 S Richmond St, Chicago, IL 60612
7beds
--sqft
Multi Family
Built in 1898
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Newer boilersEnclosed metal fenceFresh paintNewer furnaceUpdated tileNew flooring
- 6 days
- 149
- 9
Zillow last checked:
Listing updated:
Listed by:
Manuel Gonzalez 773-851-0749,
Realty of America,
Alejandro Diaz,
Realty of America, LLC
Source: MRED as distributed by MLS GRID,MLS#: 12795866
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Has Heating (Unspecified Type)
Features
- Basement: Finished,Full
Property
Parking
- Total spaces: 1
- Parking features: Yes, Other
Lot
- Size: 3,049 Square Feet
- Dimensions: 25 X 125
Details
- Parcel number: 16131220160000
- Zoning: MULTI
- Special conditions: List Broker Must Accompany
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Brick
Condition
- New construction: No
- Year built: 1898
- Major remodel year: 2008
Utilities & green energy
- Sewer: Public Sewer
- Water: Lake Michigan
Community & HOA
Location
- Region: Chicago
Financial & listing details
- Tax assessed value: $370,010
- Annual tax amount: $7,712
- Date on market: 10/28/2026
- Ownership: Fee Simple
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 10/28/2026 | Listed for sale | $575,000+43.8% |
Source:  MRED as distributed by MLS GRID #12795866 Report a problem | ||
| 6/20/2020 | Listing removed | $400,000 |
Source: Coldwell Banker Residential #10445363 Report a problem | ||
| 2/8/2020 | Listed for sale | $400,000-11.1% |
Source: Coldwell Banker Residential Brokerage - Lincoln Park Clybourn #10445363 Report a problem | ||
| 7/10/2019 | Listed for sale | $450,000+77.9% |
Source: Coldwell Banker Residential #10445363 Report a problem | ||
| 8/19/2014 | Listing removed | $1,375 |
Source: Owner Report a problem | ||
| 6/17/2014 | Listed for rent | $1,375 |
Source: Owner Report a problem | ||
| 5/26/2006 | Sold | $253,000+251.4% |
Source: Public Record Report a problem | ||
| 1/3/2002 | Sold | $72,000 |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $7,461 +46.9% | $37,001 +54.2% |
| 2023 | $5,081 +2.6% | $23,999 |
| 2022 | $4,953 +2.3% | $23,999 |
| 2021 | $4,842 +67.7% | $23,999 +49.8% |
| 2020 | $2,887 -3.1% | $16,020 -12% |
| 2019 | $2,979 +1.8% | $18,205 |
| 2018 | $2,927 -27.2% | $18,205 -17.2% |
| 2017 | $4,018 +3% | $21,978 |
| 2016 | $3,902 +10% | $21,978 |
| 2015 | $3,547 +12.4% | $21,978 +12.3% |
| 2014 | $3,154 +2.4% | $19,570 |
| 2013 | $3,081 +0.6% | $19,570 |
| 2012 | $3,064 +1.4% | $19,570 -6.4% |
| 2011 | $3,021 -11.2% | $20,915 |
| 2010 | $3,403 +4.4% | $20,915 |
| 2009 | $3,261 +1.5% | $20,915 -6.6% |
| 2008 | $3,212 +1% | $22,391 |
| 2007 | $3,180 -1.1% | $22,391 |
| 2006 | $3,214 +28.3% | $22,391 +46% |
| 2005 | $2,506 +1% | $15,337 |
| 2004 | $2,481 +2.2% | $15,337 |
| 2003 | $2,427 +53.2% | $15,337 +74% |
| 2002 | $1,584 +34.7% | $8,816 |
| 2001 | $1,176 +64.5% | $8,816 |
| 2000 | $715 +123% | $8,816 +136.9% |
| 1999 | $321 | $3,722 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: East Garfield Park
Nearby schools
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