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Incredible Lakeview investment opportunity with RT-3.5 zoning, allowing for two-flats, townhouses, low-density apartment buildings, and single-family homes. Currently generating below market value $7,000/month in rental income with substantial upside through aesthetic renovations and rental increases, this property is being offered as a portfolio of three individual condo PINs, with the potential to convert to a single tax PIN. Constructed in 1994, the 4-story BRICK & BLOCK building features three units totaling 7 bedrooms and 4 bathrooms. Unit #3 is a spacious 3 bed/2 bath duplex-up with vaulted ceilings and streaming natural light - 1,862sqft, Unit #2 is a 2 bed/1 bath - 919sqft, and Unit #1 is a 2 bed/1 bath garden-level unit - 907sqft. ALL units feature private rear balconies and are individually metered and include in-unit washer and dryer, central HVAC, and individual water heaters. The property also offers a private fenced backyard and three rear parking spaces on a parking pad. Good long-term tenants who pay on time: Unit #3 rents for $3,300/month through 5/31/27, Unit #2 rents for $1,900/month through 4/30/27, and Unit #1 rents for $1,800/month through 8/31/26. Walk to Jewel Osco, Diversey Train and Buses. Rarely does a cash-flowing, value-add asset with flexible zoning, multiple exit strategies, and long-term redevelopment potential become available in one of Chicago's most sought-after neighborhoods!

Property Details of 1507 West George Street

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Listed by Cory Tanzer of Option Premier LLC

Based on information submitted to MRED  as of July 15, 2026 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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