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3816 W Montrose Ave
Multi-Family
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$875,000

3816 W Montrose Ave, Chicago

26% below median
6 bd·5 ba·0 sqft
Albany Park

3816 W Montrose Ave, Chicago, IL

6 bd · 5 ba · 0 sqft Multi-Family listed at $875,000 in the Albany Park neighborhood.

About this home

This 3-unit property is fully rented and a great income-producing investment opportunity or perfect for a Live/Work owner! Lots of recent updates: the roof was replaced 2 years ago, the front windows of the 2-bedroom were replaced in 2025, and both the 2-bed and the coach house have new electrical. The 1600 Sq. Ft. storefront is currently operating as a catering/restaurant business and is on a long-term, month-to-month rent, so that gives flexibility to the new owner. The second floor has a 2-bedroom, 1-bathroom plus enclosed porch and an outdoor patio and has been recently renovated, and it's currently rented out. The beautifully designed 2-bed unit features an in-unit laundry and a custom kitchen with stainless steel appliances and granite countertops, which are perfect for cooking and entertaining. The apartment boasts hardwood floors throughout, adding a touch of elegance to the space. It also has a private entry and central air and heat. The owner just finished the full gut rehab of the coach house in the back as well. The coach house has 4 bedrooms/2baths, and it's a 3-floor living space; it feels and lives like a single home. Gorgeous brand new kitchen with all the bells and whistles, and two brand new elegant bathrooms, in-unit laundry. With public transportation nearby, commuting is a breeze. Great upside potential

Property details

Price
$875,000
Bedrooms
6
Bathrooms
5
Type
Multi-Family
Days on market
45
Est. property tax
$18,200/yr · $1,517/mo · 2.08% IL avg
Last sold
$385,000 · Jan 2006

Estimated monthly payment

Down payment20% ($175,000)
Interest rate6.75%
Principal & Interest$4,540
Property Tax$802
Insurance$150
Total$5,492/mo

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Price history

$982K$460K$-62K$25K on Jan 79 (Sold)$350K on Jan 04 (Sold)$385K on Jan 06 (Sold)$895K on Jul 25 (Initial list)$875K on Feb 26 (Price change)$875K on Mar 26 (Initial list)
$25K · Jan 79$875K · Mar 26
  1. Mar 11, 2026$875,000Initial list price
  2. Feb 17, 2026$875,000Price change
  3. Jul 15, 2025$895,000Initial list price
  4. Jan 3, 2006$385,000Sold
  5. Jan 20, 2004$350,000Sold
  6. Jan 11, 1979$25,000Sold

Location

This home is located in Chicago, IL. Browse more Chicago listings on the Chicago market page or explore the full Chicago market report.

About Chicago: Chicago is the most populous city in the U.S. state of Illinois and in the Midwestern United States. Located on the western shore of Lake Michigan, it is the third-most populous city in the United States, with a population of 2.74 million at the 2020 census. The Chicago metropolitan area has 9.41 million residents and is the third-largest metropolitan area in the country. Chicago is the seat of Cook County, the second-most populous county in the U.S. (source: Wikipedia)

Climate: Average year-round temperature is 51°F with 211 dry days per year and 39.9 inches of annual rainfall.

Location

Map of 3816 W Montrose Ave, Chicago
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Home Intelligence

Neighborhood (zip 60618)

Median age is 35.4; 33% hold a bachelor's degree; 51% of homes are owner-occupied; median household income is $100,976.

Median income
$100,976
Median age
35.4
Owner-occupied
50.5%
Bachelor's degree
33.4%
Census median home value
$502,700

Source: US Census Bureau American Community Survey 5-year estimates.

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