1826 Home Ave Berwyn IL – Historic Multi-Family Bungalow with Investment Potential
Located in Berwyn’s esteemed Historic Gold Coast, 1826 Home Ave Berwyn IL stands as a classic example of early 20th-century architecture. Built in 1929, this well-maintained multi-family brick bungalow offers not only timeless charm but also a compelling investment opportunity. With three fully functional units—including two spacious 3-bedroom flats and a garden-level 1-bedroom apartment—this property caters to families, house-hackers, and investors alike. Its historic charm, solid construction, and prime location make it a rare find in today’s real estate market.
Property Overview
Historical Significance and Style
1826 Home Ave is a quintessential Chicago-style octagon bungalow, a variation that gained popularity in the late 1920s. The home showcases original architectural features, such as:
- Stained art-glass windows
- Sculpted plaster walls
- Detailed crown molding
- Built-in bookcases and classic fireplaces
These timeless design elements are preserved beautifully, making the property a standout in Berwyn’s Central Bungalow Historic District.
Layout and Interior Features
- Total Bedrooms: 7
- Total Bathrooms: 3.5
- Total Square Footage: Approximately 4,300 sq ft
- Lot Size: 4,080 sq ft
The property is divided into three distinct units:
- First Floor Unit: 3 bedrooms, 1 bath, large living and dining rooms with vintage wood trim and hardwood floors.
- Second Floor Unit: Nearly identical layout as the first floor with updated touches and bright natural lighting.
- Garden-Level Unit: 1 bedroom, 1 bathroom, private living and dining spaces—perfect for an in-law suite or rental.
The common areas and shared basement space include laundry facilities and extra storage. The home also features radiant heating, wall-mounted air conditioning units, and a detached 2-car garage.
Investment Value and Market Insights
Recent Sales and Valuation
- Last Sold Price: $389,900 in November 2020
- Estimated Current Market Value: Approximately $525,000 to $575,000
- Property Taxes (2019): Estimated at $11,900
Given the steady appreciation in Berwyn’s real estate market, the property has experienced consistent growth. Its unique architecture and location within a historic district add intrinsic long-term value.
Rental Potential
The multi-unit configuration offers flexible rental options:
- Live in one unit and rent out the others to offset your mortgage.
- Rent all three units for maximum cash flow.
- Potential to duplex the basement for a fourth income-producing unit (pending zoning approvals).
With high demand for quality rentals in the area, especially within proximity to downtown Chicago, 1826 Home Ave can generate attractive cap rates for savvy investors.
Neighborhood Overview
Living in Berwyn’s Historic Gold Coast
Berwyn is known as the “City of Homes” due to its high concentration of single-family bungalows and well-preserved architecture. The Gold Coast area is especially valued for its walkability, safety, and aesthetic appeal.
Nearby amenities include:
- Local schools: Jefferson Elementary, Lincoln Middle School, Morton West High School
- Parks and playgrounds
- Independent coffee shops and bakeries
- Public transportation options, including Metra and CTA Blue Line access
This neighborhood offers the best of both worlds: suburban charm with urban connectivity.
Frequently Asked Questions
What makes 1826 Home Ave unique?
Its octagon bungalow architecture, multi-family layout, and location in a historic district set it apart from standard multi-unit homes.
Is this a good property for first-time investors?
Yes. The property is ideal for house-hackers looking to offset their mortgage or for investors seeking stable, long-term rental income.
What renovation opportunities exist?
The basement could potentially be duplexed or converted into a fourth unit. Cosmetic updates in kitchens and bathrooms can also enhance rental value.
What’s the neighborhood like?
Safe, family-friendly, and historically preserved, the area blends vintage aesthetics with modern convenience.
Conclusion
1826 Home Ave in Berwyn IL is more than just a home—it’s a living piece of history with income-generating potential. Whether you’re a homeowner seeking character and space or an investor eyeing cash flow and appreciation, this property ticks all the boxes. Its strategic layout, architectural elegance, and location within a thriving suburb make it one of the most desirable homes in Berwyn’s housing market.
