Popularity of a 3 flat building for sale.
3 flat buildings for sale in Chicago are the second most popular type of property in Chicago. 3 flat buildings became a popular form of residential living in Chicago, IL during the job and housing booms that lasted from 1900 to the 1930s.
During this time Chicago’s population flourished and immigrants seeking jobs settled in Chicago’s southside neighborhoods like Back of the Yards, South Chicago, West Pullman and Englewood to work in the stockyards, railroads, and manufacturing.
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A 3 flat building for sale in Chicago is one of the best Chicago real estate investments.
URB Chicago has 3 flat buildings for sale in Chicago, including in Chicago’s southside neighborhoods and Chicago’s westside neighborhoods. If you are a landlord looking for a 3-flat fixer upper for sale in Chicago, or a company that renovates apartment buildings in Chicago, 3-flats can bring in long term passive incomes and are highly sought investments.
Here are 3 details to help you understand 3 flat buildings for sale in Chicago a little better.
3 flat building layout
You probably recognize many 3 flat properties for sale in Chicago as red brick buildings with 3 stacked units. However, Chicago 3-flats come in many shapes and sizes. 3-flat multi-family rental properties in Chicago may have 2 stacked units and a garden unit, 2 stacked units with a coach house, two stacked units with a second loft apartment or studio on the second floor.
Many 3 flat buildings for sale in Chicago were designed as 3 flats, however as companies search out handyman specials they are in search of distressed properties for sale in Chicago that can expand their income. That means, popular Chicago architecture such as Greystones for sale in Chicago’s southside, and 2-flat wood frame homes for sale in Chicago’s westside are more commonly being expanded to include attic, loft and additional studio apartments.
Bought as an investment for immigrants
Buying a Chicago 3-flat in the 1920s meant a couple things. First, Chicago 3 flat properties for sale were often as big as a red brick Chicago bungalow. Secondly, immigrants bought 3 flat properties for sale in Chicago so their extended family could live in the second units as well as earn a passive income by renting out the third unit.
3 flats designed for appeal
Chicago 3 flat buildings took on the same charm that designers of Chicago 2 flat properties followed. Chicago 3 flat properties are similar to St. Paul brownstones and San Francisco row houses in that they are often found lining an entire Chicago block similar to what you will find in North Lawndale’s K-town district. These brick 3 flats are in the Italianate style that is defined with brick or stone facades with the entry on one side and projecting bay windows on the other. The outsides of the 3 flat property often feature ornate cornices in brick or stone with additional detailing along the face of the building, windows, and doorways. Front doors often feature stained glass. These multi-unit apartment buildings often have a wrought iron fence in the front yard with narrow gangways between each building.
Chicago multi-unit 3 flat buildings for sale are commonly found throughout Chicago’s southside and westside neighborhoods such as Bronzeville, North Lawndale, South Chicago, and Englewood. Contact URB Chicago if you are looking for affordable 3-flat buildings for sale in Chicago. Our real estate professionals are experts in Chicago real estate and ready to help you find your next rehab property for sale or multi-family rental property for sale for landlords.