NOT LISTED FOR SALE
16 Beds
7 Baths
5,868 Sq Ft
3,500 Sq Ft Lot

Last Sold February 19, 2021

Last sale price $515,000 $88 Per Sq Ft

15 Days on Market

About This Home

As of February 2021

Awesome Cash Flow for This Spacious 5868 sq ft, Legal 6-Unit Grey Stone, Soon to Be Fully Leased! Three 3 Bed & Two 2 Bed Units w/ Primo Rental Prices & Hardwood Galore! 5 Minutes to Tri-Taylor, and 10 Minutes to Ukranian Village (the hottest neighborhood in the United States in 2016!) As Growth Continues, North Lawndale is Next in Line for Gentrification, Making it the Prime Neighborhood for Investment! Section-8 Units, Means a Guaranteed Deposit into Your Bank Account on the 1st of Each Month! No Worries About Delinquent Tenants, Because the Government Will Perpetually Pay You Out! These Meticulously Maintained Units Are Everything the Doctor Ordered, So Who Doesn't Want a Government Contract During Uncertain Times? Gated Front & Backyard, w/ Three-tiered Deck! Renovated Units Include Newer Plumbing, Electric, Windows, Tuck-Pointing, Roof & Separate HVACs, Water Heaters and Gas Meters for Each Unit! One Block Away From Gorgeous Douglas Park and Tons of Great Stores; Lawndale Plaza! Short Distance to CTA Blue and Pink Lines & I290! Of the 5+ Multi-Units Making Nearly $9K Per Month in Gross Income, 1115 S Troy is Less Than Half the Price of Any Available Property Nearest to Downtown! Schedule Your Showings Quickly, Because This Opportunity Won't Last! Everything Has Been Replaced Within the Past 6 Years! Seventh 1 Bed, 1 Bath Unit in Basement Has Been Grandfathered in w/ Option to Add an 8th Unit! Rent is Artificially Low as The Owner Has Never Raised Rents on His Quality, Long-Term Tenants, w/ Room to Easily Gross $200 More a Month Per Unit! Total Annual Income of $107,976 w/ an 18% Capitalization Rate!

Last Agent to Sell the Property

Ryan Widerberg

eXp Realty - Chicago North Ave License #475121545 Listed on: 01/06/2021

eXp Realty - Chicago North Ave

Last Buyer's Agent

Michael Lacy

Kiser Group Realty Inc License #475188177

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,620

Year Built

  • Built in 1905

Lot Details

  • 3,500 Sq Ft Lot
  • Lot Dimensions are 25x125

Home Design

  • Brick Foundation

Interior Spaces

  • 5,868 Sq Ft Home
  • 3-Story Property
  • Exterior Basement Entry

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 7 Bathrooms

Utilities

  • Radiator
  • Heating System Uses Gas
  • Separate Meters

Listing and Financial Details

  • Tenant pays for air conditioning, electricity, heat

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $348
  • Insurance Expense $2,000
  • Trash Expense $889
  • Water Sewer Expense $1,195
  • Operating Expense $4,432
  • Gross Income $107,976
  • Net Operating Income $98,924

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,620

Year Built

Built in 1905

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Exterior Entrance
  • Stories: 3
  • Year Built: 1905
  • Built Before 1978 (Y/N): Yes
  • Information: Short Notice OK,Show-Lock Box,No Sign on Property,Leases Avaliable
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 7
  • Total Bedrooms: 16
  • Refrigerators: 7
  • Ranges: 7
  • Room: 6
  • Room: 6
  • Room: 3

Exterior Features

  • Foundation Details: Brick/Mortar, Other
  • List Price: 550000
  • Roof: Other
  • Exterior Building Type: Other
  • Roof Structure: Flat,Other

Utilities

  • Electric: Separate Meters
  • Heat/Ventilation: Gas,Radiators

Condo/Co-op/Association

  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 889
  • Water Sewer Expenses: 1195
  • Janitor Expense: 0

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 25X125
  • Lot Size Sq Ft: 3500

Rental Info

  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Board Number: 8

Building Info

  • BuildingAreaTotal: 5868

Multi Family

  • Net Operating Income: 98924
  • Insurance Expense: 2000
  • ElectricExpense: 348
  • GrossIncome: 107976
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 4432
  • Expense Year: 2019
  • Type Multi-Family: Corridor-Exterior Entrance

Tax Info

  • Tax Annual Amount: 4619.89
  • Tax Year: 2019

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/19/2021 02/19/21 Sold $515,000 -6.4% $88 / Sq Ft
01/21/2021 01/21/21 Pending -- -- --
01/06/2021 01/06/21 For Sale $550,000 -- $94 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 10964146

Midwest Real Estate Data (MRED)