NOT LISTED FOR SALE

1301 Elgin Ave Forest Park, IL 60130

11 Beds
6 Baths
4,625 Sq Ft
5,375 Sq Ft Lot

Last Sold January 05, 2024

Last sale price $795,000 $172 Per Sq Ft

19 Days on Market

About This Home

As of January 2024

Investor Opportunity! Price reduced on this 6-unit fully rented, brick property in Forest Park! Well maintained property with great curb appeal and newer mechanicals that features coveted FIVE 2BR units and ONE 1BR unit with 5 tandem parking spaces. Newer roof, boiler, water heater and windows. Coin-operated laundry, individual storage lockers in basement. Current tenants are long time renters paying below market rates. Excellent location on a quiet residential street. Close to Blue Line, 290 expressway, parks, schools, hospital and shopping. An excellent investment property opportunity in a stellar location! Being sold "as is".

Last Agent to Sell the Property

David Gullo

Gullo & Associates License #471004288 Listed on: 12/06/2023

Last Buyer's Agent

Paola Cedano

Exit Grace Realty License #475171446

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $16,418

Year Built

  • Built in 1961

Lot Details

  • 5,375 Sq Ft Lot
  • Lot Dimensions are 40x135
  • Corner Lot

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 4,625 Sq Ft Home
  • 2-Story Property
  • Finished Basement

Bedrooms and Bathrooms

  • 11 Bedrooms
  • 6 Bathrooms

Utilities

  • Zoned Heating System

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $336
  • Fuel Expense $4,734
  • Insurance Expense $2,682
  • Maintenance Expense $5,320
  • Manager Expense $1,170
  • Other Expense $1,965
  • Trash Expense $861
  • Water Sewer Expense $5,261
  • Operating Expense $40,440
  • Gross Income $78,782
  • Net Operating Income $38,342

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$16,418

Year Built

Built in 1961

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Other
  • Stories: 2
  • Year Built: 1961
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required
  • Estimated Age: 36-50 Years
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 11
  • Basement Description: Finished
  • Fireplaces: 1
  • Refrigerators: 6
  • Ranges: 6
  • Number of Washers: 1
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Concrete Perimeter
  • Roof: Composition
  • Exterior Building Type: Brick
  • Roof Structure: Hip

Garage/Parking

  • Outdoor Parking: 1-5 Spaces

Utilities

  • Electric: Circuit Breakers
  • Heat/Ventilation: Central Bldg Heat,Zoned
  • Leased Washer Dryer YN: No

Condo/Co-op/Association

  • Manager Expense: 1170

Fee Information

  • Trash Expense: 861
  • Water Sewer Expenses: 5261

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 40X135
  • Lot Size Sq Ft: 5375
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 16

Building Info

  • BuildingAreaTotal: 4625

Multi Family

  • Net Operating Income: 38342
  • Fuel Expense: 4734
  • Insurance Expense: 2682
  • ElectricExpense: 336
  • GrossIncome: 78782
  • Maintenance Expense: 5320
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 40440
  • Type Multi-Family: Other

Tax Info

  • Tax Annual Amount: 16418
  • Tax Year: 2021
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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 List to Sale Price per Sq Ft
01/05/2024 01/05/24 Sold $795,000 -3.6% $172 / Sq Ft
12/26/2023 12/26/23 Pending -- -- --
12/06/2023 12/06/23 For Sale $825,000 -- $178 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $17,421 $58,000 $4,031 $53,969
2024 $17,421 $58,000 $4,031 $53,969
2023 $17,285 $58,000 $4,031 $53,969
2022 $17,285 $48,226 $3,091 $45,135
2021 $16,418 $48,225 $3,090 $45,135
2020 $15,999 $48,225 $3,090 $45,135
2019 $17,949 $50,976 $2,821 $48,155
2018 $17,579 $50,976 $2,821 $48,155
2017 $17,193 $50,976 $2,821 $48,155
2016 $14,838 $41,405 $2,553 $38,852
2015 $14,606 $41,405 $2,553 $38,852
2014 $14,330 $41,405 $2,553 $38,852
2013 $11,565 $35,757 $2,553 $33,204
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11942887

Midwest Real Estate Data (MRED)