NOT LISTED FOR SALE

1312 E 62nd St Chicago, IL 60637

Woodlawn Neighborhood
22 Beds
6 Baths
7,950 Sq Ft
1890 Built

Last Sold February 16, 2024

Last sale price $1,050,000 $132 Per Sq Ft

117 Days on Market

About This Home

As of February 2024

1312-14 E. 62nd St, a rarely available six (6) unit, center entrance walk-up located just outside of Hyde Park in Chicago's East Woodlawn neighborhood. The property is located just blocks from the prestigious University of Chicago and the construction site of the future Obama Presidential Library, 1312 E. 62nd St is comprised of four (4) 4Bd/1.5 Ba and two (2) 3Bd/1.5Ba units. All units feature incredibly spacious layouts with updated kitchens and baths. Throughout the years, the building has undergone extensive renovations consisting of, but not limited to: 100% copper plumbing , 600 amp electric service w/ in-unit breaker boxes, individual furnaces, newer porch, newer roof, newer windows and an abundance of cosmetic updates. 1312 E. 62nd St presents an investor the opportunity to acquire a rarely available and highly desirable building in one of Chicago's best neighborhoods. From day one, a new owner will benefit from an incredibly stable and long term tenant base. However, with most of the building's current rents being substantially below current market levels-there is a tremendous amount of value to be added solely by stabilizing rents to levels already being achieved in the building

Last Agent to Sell the Property

Aaron Sklar

Kiser Group Realty Inc License #475161507 Listed on: 09/29/2023

Co-Listed By

Noah Birk

Kiser Group Realty Inc License #475125864

Last Buyer's Agent

Aaron Sklar

Kiser Group Realty Inc License #475161507 Listed on: 09/29/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,053

Year Built

  • Built in 1890

Home Design

  • Garden Apartment

Bedrooms and Bathrooms

  • 22 Bedrooms
  • 6 Bathrooms

Additional Features

  • 3-Story Property
  • Lot Dimensions are 56' x 100'
  • Floor Furnace

Listing and Financial Details

  • Tenant pays for electricity, heat

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $900
  • Fuel Expense $3,855
  • Insurance Expense $3,982
  • Maintenance Expense $1,850
  • Manager Expense $5,159
  • Other Expense $1,500
  • Trash Expense $1,500
  • Water Sewer Expense $3,625
  • Operating Expense $31,424
  • Gross Income $108,600
  • Net Operating Income $71,746

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,053

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Garden Complex
  • Stories: 3
  • Year Built: 1890
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany,48-Hr Notice Required
  • Estimated Age: Older
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 22
  • Room: 0

Utilities

  • Heat/Ventilation: Individual Furnaces

Condo/Co-op/Association

  • Manager Expense: 5159

Fee Information

  • Trash Expense: 1500
  • Water Sewer Expenses: 3625

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 56' X 100'

Rental Info

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

Multi Family

  • Net Operating Income: 71746
  • Fuel Expense: 3855
  • Insurance Expense: 3982
  • ElectricExpense: 900
  • GrossIncome: 108600
  • Maintenance Expense: 1850
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 31424
  • Type Multi-Family: Garden Complex

Tax Info

  • Tax Annual Amount: 8053
  • Tax Year: 2022

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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
02/16/2024 02/16/24 Sold $1,050,000 -11.0% $132 / Sq Ft
01/25/2024 01/25/24 Pending -- -- --
09/29/2023 09/29/23 For Sale $1,180,000 -- $148 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2024

    Aaron Sklar

    Kiser Group Realty Inc

    Section Image

  • N

    Seller Co-Listing Agent in 2024

    Noah Birk

    Kiser Group Realty Inc

    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11897441

Midwest Real Estate Data (MRED)

APN: 20144080130000

Illinois Cook County Chicago 60637 Woodlawn

1312 E 62nd St, Chicago, IL

Not Listed for Sale

MultiFamily

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