Chicagoans love their two- to four-unit buildings, with the three-flat being one of the more popular configurations. According to the US Census Bureau’s American Housing Survey, nearly half a million metro Chicago housing units are in two- to four-unit properties, and one in five of those units is owner-occupied.
The flexibility of 3-flats is a major contributor to their popularity. They can house extended or multi-generational families in separate living quarters, provide affordable housing for hands-on live-in owners, or be the first step in building a real estate investment portfolio. Years ago the janitor who handled a number of my buildings acquired half a dozen three-flats over a period of years, and gave one to each of his sons as a wedding gift.
The properties, all of which have three 3-bedroom, 2-bath units are listed from $325,000 to $349,000, and owned by a series of related trusts. The listings: