Investor opportunity in North Lawndale, Chicago, Illinois
1841 S. Drake Avenue
Assignment of contract. Cash buyers preferred.
$215,000 asking, plus buyer closing costs
A vacant brick two-flat on a lot zoned for three units, on a block where four buildings have city permits to go from two units to three. It sells as-is. Offers are open until it is sold and are reviewed as they come in.
Montserrat Fernandez Velasco, licensed Illinois real estate broker, The Nav Agency, 171 North Aberdeen Street, Chicago, Illinois
- 6 beds, 2 bathsTwo units today
- 2,364 sq. ft.Building
- 3,125 sq. ft. lotRT-4 zoning
- 1905Year built
- VacantNo tenants
The deal, plainly
You buy our contract position. Title follows the court.
This is an assignment of contract. AMD Results, LLC holds a signed agreement directly with the tax deed petitioner in Cook County case 2025COTD002931, with no other wholesaler in the chain. You would acquire AMD Results, LLC's contract interest by assignment. It is not a deed sale or an MLS listing today.
Title transfers after the tax deed case finalizes and the deed issues. The underlying conveyance is by quitclaim deed, as-is, where-is and subject to matters of record. The case is pending and the court sets the timing; we do not promise a date or an outcome.
- 01$86,000 assignment fee
Due when the assignment is signed and held in escrow at the title company until the tax deed records.
- 02$129,000 through title
The balance of the underlying purchase, paid through the title company once the tax deed records.
$215,000 in total, plus buyer closing costs. The full terms, including how and when the escrowed fee is released, are in the assignment agreement; have your attorney review it before you sign.
Cash buyers preferred
Bring proof of funds with your offer.
Conventional mortgage financing is usually not available on a contract assignment before title vests, because a lender needs the borrower to hold title. Cash, or funds you control, is the practical way to close. We ask for proof of funds with every offer.
The property
Chicago character, with room for a third unit.
A vacant brick two-flat with a full basement and its own exterior entrance. Built 1905, with vintage plaster, hardwood floors and radiator heat. The kitchen needs a full gut and the basement is unfinished. No tenants and no eviction.
RT-4 zoning allows one dwelling unit per 1,000 sq. ft. of lot, so the 3,125 sq. ft. lot supports three units. An existing legal third unit is not represented; have your architect confirm the basement plan.
Original photos show the property when photographed, including items left inside. Book a showing to see its present condition.
The numbers
Estimates, labeled as estimates.
- About $510,000Projected value after rehab as a legal three-unit building, based on the three legal sales below. A screening estimate, not an appraisal.
- $150,000 to $190,000Our estimate to rehab all three units, not a contractor bid. Bring your contractor to a showing.
- Legal three-unit$515,000
1657 S. Central Park Ave
Closed February 27, 2026, MLS 12457191
Renovated legal three-flat, 9 bed and 3 bath. Its basement became the third unit under city permit 100991084, issued in 2022 and complete.
- Legal three-unit$525,000
1629 S. Trumbull Ave
Closed April 17, 2026, MLS 12563165
Converted from two units to three with a new basement apartment under city permit 100783088, issued in 2019 and complete.
- Legal three-unit$539,900
1428 S. Hamlin Ave
Closed June 8, 2026, MLS 12573300
Renovated, 9 bed and 3 bath. City permits describe it as an existing three-unit building.
- Next door, the floor$475,000
1839 S. Drake Ave
Closed February 9, 2026, MLS 12457520
Renovated brick two-flat, 9 bed and 3 bath, with a garden unit the listing called non-conforming. No permit for a third unit, so it shows what this block brings without one.
Permits on the block
Four buildings on the 1800 block of S. Drake have city permits to go from two units to three. Status as of October 20, 2026; look up any number on the City of Chicago building permits portal.
| Address | Permit | Issued | Work | Status |
|---|---|---|---|---|
| 1808 S. Drake | 100154431 | January 11, 2007 | Convert a two-unit to a three-unit building. | Complete |
| 1813 S. Drake | 100448734 | July 12, 2013 | Convert from two to three dwelling units with an interior remodel. | Complete |
| 1820 S. Drake | 100973070 | November 28, 2022 | Convert two to three dwelling units with a new basement dwelling unit. | Complete |
| 1827 S. Drake | 100994207 | March 14, 2024 | Convert a two-story, two-unit building with basement to three units. | Active |
Sales are closed MLS sales from 2026. Run your own numbers with your contractor and advisors.
Renovation concepts
Ideas for what comes next. Not the property as it is.
These room films are AI concept renderings of a planned renovation. They do not show completed work or an approved design, and the property sells as-is.
Make an offer
Open until sold. Reviewed as offers arrive.
Send your offer with the entity you would buy in and your proof of funds. Montserrat Fernandez Velasco sends the signed agreement for your attorney to review. The assignment fee is due at signing.
Showings and questions are by appointment through 630-290-9959. Bring your contractor.
Call 630-290-9959
Email info@sellchicagoproperties.com
Disclosures
Montserrat Fernandez Velasco, licensed Illinois real estate broker, The Nav Agency, 171 North Aberdeen Street, Chicago, Illinois
Montserrat Fernandez Velasco is a licensed Illinois real estate broker with The Nav Agency and a member of the contract buyer, AMD Results, LLC, offering a contract interest as a principal, not as a listing agent. The assignment price includes compensation to AMD Results, LLC and MFV RE, LLC.
Property: 1841 S. Drake Avenue, Chicago, Illinois 60623, Cook County. Offered as an assignment of contract in a pending tax deed case, as-is. Estimates are not appraisals or contractor bids. Photos are original photos; renovation films are labeled AI concept renderings.
Illinois real estate advertising and disclosure rules: Real Estate License Act of 2000, 225 ILCS 454, including Section 10-30 (advertising) and the licensee interest disclosure it requires.
Questions buyers ask
How do I see the property?
Showings are by appointment. Call 630-290-9959 with a day and time, and bring your contractor.
What exactly am I buying?
AMD Results, LLC's contract interest, by assignment. AMD Results, LLC holds a signed agreement directly with the tax deed petitioner in Cook County case 2025COTD002931. Title transfers after the case finalizes and the deed issues.
What does the $215,000 include?
An $86,000 assignment fee, due at signing and held in escrow until the tax deed records, plus $129,000 paid through title. Buyer closing costs are additional. The assignment agreement sets the full terms.
Can I use a mortgage?
Usually not. Conventional financing is generally not available on a contract assignment before title vests, so cash buyers are preferred. Include proof of funds with your offer.
When will it close?
The case is pending and the court sets the timing. We do not promise a date or an outcome.
Is there an offer deadline?
No. Offers are open until the property is sold and are reviewed as they come in.