Backup offers
$6,757 Closing Credit¹
#12271303, Christopher Norton, Listing Office: Compass
$525,000 List price
3622 W Franklin Blvd Chicago, IL 60624
$6,234
Closing credit¹
9 beds
3 baths
House
Property details
About 3622 W Franklin Blvd
This exceptional three-flat in the vibrant Humboldt Park neighborhood offers a unique opportunity for both investors and owner-occupants to capitalize on a property with tremendous potential. Each of the three spacious units features three bedrooms, one bathroom, in-unit washer and dryer, and a utility/laundry sink for added convenience. Renovated just four years ago, the property is in excellent condition, only needing minor touch-ups to reach its full potential. The updated kitchens boast sleek stainless steel appliances, dishwashers, marbled quartz countertops with breakfast bars, and modern white shaker cabinets. Each unit is equipped with central A/C, recessed lighting, and a contemporary color palette, creating a bright and inviting atmosphere. Additional upgrades include tuckpointing and new windows (2020), while high ceilings and hardwood floors add to the charm. All hot water tanks were replaced in January 2025, providing added peace of mind for future maintenance. The rear numbered parking pad offers an additional rental income opportunity. Currently, all units are fully occupied, though two tenants have a less-than-perfect payment history. No notices have been given, as these tenants are good people working hard to take care of their balances. The new buyer must be willing to close with tenants in place and manage rent adjustments after acquisition to optimize returns. The garden unit and Unit 2 are on month-to-month leases. Two of the three tenants hold two-bedroom CHA vouchers, while one tenant is market-rate. With minor improvements, rents could be raised to as much as $2,600 per month, making this an ideal property for immediate cash flow and long-term growth. The seller acknowledges that the property is in a stabilization phase, which is reflected in the heavily discounted asking price. With an after-repair value (ARV) exceeding $650,000, this property offers substantial equity potential of over $125,000. The discount accounts for the effort required to maximize rental income and improve the property's valuation. Please note: The listing photos have been professionally rendered to depict the units as vacant; however, the property is currently occupied, and tenant possessions remain inside. Well-located near shopping, dining, parks, and public transit, with easy access to I-290, this property is being sold as-is at a discount due to its full occupancy status. It presents a rare opportunity to acquire a cash-flowing asset with room for significant appreciation. Don't miss out-schedule a showing today! Tenants' rights apply.
Highlights
Home typeResidential
HeatingNatural Gas
StatusActive
(Re-activated)
(Re-activated)
Year built1907
ParkingUnassigned, Off Alley
MLS #12158369
Summary
- MLS Number: 12158369
- MLS Name: MRED
- Office Name: Straight-A Realty, LLC
- Office Phone: (630) 288-2446
- Listing Agent: Michael Applegate
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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Get an agent. Get a mortgage. Save big.¹
$525,000
3622 W Franklin Blvd
$6,234
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 11, 2020 | Home Sold | $492,000 |
| Jan 09, 2018 | Home Sold | $62,500 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2022 | $33,999 | $6,993 |
| 2020 | $5,802 | $1,292 |
| 2019 | $12,975 | $2,606 |
| 2018 | $12,975 | $2,563 |
| 2017 | $20,288 | $4,367 |
History based on county public records data.
Nearby schools
4
Nixon Elementary School
Public District PK-6
2.1 mi
•2121 N Keeler Ave
5
Liberty Elementary School
Public District PK-3
2.4 mi
•4946 W 13th St
5
Lloyd Elementary School
Public District KG-5
2.5 mi
•2103 N Lamon Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $13,981. The most common annual income of people living in Chicago, IL is less than $<35k. The most common type of family is single, no kids. Residents of this area typically have high school diploma education.
How much money do the neighbors make?
93%
<35k
7%
35k-100k
0%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
What types of families live nearby?
51%
Single, No Kids
31%
Single, with Kids
9%
Married, No Kids
9%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
20%
<11 yrs old
15%
12-17 yrs old
21%
18-34 yrs old
32%
35-64 yrs old
12%
65+ yrs old
What do the neighbors do for fun?
Pro Boxing
Mexican League Soccer
Where do the neighbors shop?
H&M
Burlington
Foot Locker
Where do the neighbors go to eat?
Boston Market
White Castle
Little Caesars
What do the neighbors drive?
Honda
Kia
Dodge
What do the neighbors listen to?
Rhythmic Contemporary Hits
Urban Adult Contemporary
All data provided by Home Junction and Claritas
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Frequently asked questions
About 3622 W Franklin Blvd
This home is located at 3622 W Franklin Blvd in Chicago, IL and zip code 60624 in the Humboldt Park neighborhood. Features: 9 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since September 15, 2024 and is currently priced at $525,000.
In January 2025, from all listings sold in Chicago, IL there were more than 347 sold above asking price, over 707 sold below and more than 238 were sold right at the asked price. Between December and January 2025, Chicago, IL real estate market has seen increase in the number of listings by 11.5%. The median list price of listings available in January 2025 was $369,009, while the average time on the real estate market was 41 days.
From Rocket Homes Real Estate and based on county public records data.