NOT LISTED FOR SALE

1401 Marengo Ave Forest Park, IL 60130

10 Beds
6 Baths
-- Sq Ft
1962 Built

Last Sold June 07, 2024

Last sale price $674,500

About This Home

As of June 2024

Welcome to the heartbeat of Forest Park! Nestled in this vibrant, hipster haven just moments from downtown Chicago, this 6-flat investment property embodies convenience and community charm. Built in 1961, this sturdy brick building houses 5 active tenants across its 6 well-maintained units. Boasting a total of 8 bedrooms and 6 full baths, this property offers a diverse layout, featuring four two-bedroom apartments and two cozy one-bedroom garden units. Most of the bathrooms have been updated since 2018 with new tile, updated porcelain, new vanity in a bright and upbeat well-lit bathroom. Most of the kitchens have been updated since 2018 with new sinks, appliances, newly painted cabinetry and flooring. Positioned on a corner lot, this property surprises with its spaciousness, showcasing expansive grassy areas between the sidewalk and curb. Convenience meets comfort with shared amenities including low-cost laundry in the basement, ensuring an easy, hassle-free living experience for tenants. There is dedicated outdoor parking for each unit. Forest Park is more than a location; it's a lifestyle-a place where live, work, play, dine, and shop converge seamlessly amidst a backdrop of year-round festivals and family events. Don't miss this opportunity to invest in the beating heart of a community that embodies the essence of modern living.

Last Agent to Sell the Property

Marty Dunne

Berkshire Hathaway HomeServices Chicago License #475188392 Listed on: 04/05/2024

Berkshire Hathaway HomeServices Chicago

Last Buyer's Agent

David McLennan

Pearson Realty Group License #475165323

Pearson Realty Group

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $19,548

Year Built

  • Built in 1962

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 6 Bathrooms

Additional Features

  • 2-Story Property
  • Lot Dimensions are 41x126
  • Hot Water Heating System

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $150
  • Fuel Expense $3,500
  • Insurance Expense $3,400
  • Maintenance Expense $1,000
  • Trash Expense $1,000
  • Water Sewer Expense $1,000
  • Operating Expense $10,000
  • Gross Income $50,000
  • Net Operating Income $50,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$19,548

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Flats
  • Stories: 2
  • Year Built: 1962
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 10
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • List Price: 725000

Utilities

  • Heat/Ventilation: Hot Water

Condo/Co-op/Association

  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 1000
  • Water Sewer Expenses: 1000
  • Janitor Expense: 0

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 41X126

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 10

Multi Family

  • Net Operating Income: 50000
  • Fuel Expense: 3500
  • Insurance Expense: 3400
  • ElectricExpense: 150
  • GrossIncome: 50000
  • Maintenance Expense: 1000
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 10000
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 19548
  • Tax Year: 2021

Range of Values:

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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
06/07/2024 06/07/24 Sold $674,500 -7.0% --
04/05/2024 04/05/24 Pending -- -- --
04/05/2024 04/05/24 For Sale $725,000 -- --
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: 12021824

Midwest Real Estate Data (MRED)