Opportunity knocks with this spacious three-unit property on a desirable corner lot in Chicago’s Mont Clare neighborhood, right on the cusp of Elmwood Park. The property features two generously sized 3-bedroom, 2-bathroom apartments, each offering approximately 1,600 square feet of living space, plus a separate 1-bedroom, 1-bathroom garden apartment. This unique layout provides exceptional flexibility for an owner-occupant, multigenerational household, or investor looking to maximize the property’s income potential. The two spacious main apartments provide the feel and functionality of full-size homes, while the garden apartment offers an additional opportunity for rental income, extended family, or guests. All residents benefit from convenient parking, with a carport and a detached two-car garage offering additional parking and storage. Recent mechanical updates add to the property’s appeal. Each unit has its own newer furnace and water heater, providing separate heating and hot-water systems, while a brand-new electrical panel adds another important update. The corner lot offers plenty of outdoor potential, with room beyond the two-car detached garage to create a private backyard oasis. With three separate living spaces, multiple parking options, separate mechanical systems, and substantial outdoor space, this property offers a rare combination of flexibility and income potential. Whether you’re looking to live in one of the spacious apartments while generating rental income from the others, accommodate extended family, or add a versatile multi-unit property to your portfolio, this Mont Clare property offers space, flexibility, and multiple ways to make the property work for you. With its exceptional layout, multiple living spaces, parking, updates, and unbeatable transportation access, this is a property you won’t want to miss-and it won’t last long on the market!
Property Details
Price:
$849,900
MLS #:
MRD12774320
Status:
Active
Beds:
8
Baths:
5
Type:
Multi Family
Neighborhood:
chimontclare
Listed Date:
Oct 1, 2026
Year Built:
1966
See this Listing
Schools
School District:
299
Interior
Heating
Natural Gas, Steam
Exterior
Construction Materials
Brick
Garage Spaces
2
Other Structures
Garage Faces Rear
Parking Features
Yes, Detached, Alley Access, Garage Faces Rear, Other, Garage
Parking Spots
3
Parking Total
3
Financial
Tax Year
2023
Taxes
$8,240
Map
Community
- Address2501 N Mont Clare Avenue Chicago IL
- CityChicago
- CountyCook
- Zip Code60707
Market Summary
Current real estate data for Multi Family in Chicago as of Oct 12, 2026
1,347
Multi Family Listed
77
Avg DOM
$525,436
Avg List Price
Property Summary
- 2501 N Mont Clare Avenue Chicago IL is a Multi Family for sale in Chicago, IL, 60707. It is listed for $849,900
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Copyright 2026. All rights reserved.
2501 N Mont Clare Avenue
Chicago, IL


