NOT LISTED FOR SALE

1444 E 67th Place Chicago, IL 60637

Grand Crossing Neighborhood
18 Beds
6 Baths
7,494 Sq Ft
1912 Built

Last Sold June 13, 2024

Last sale price $580,000 $77 Per Sq Ft

141 Days on Market

About This Home

As of June 2024

1444 E. 67th Pl is a recently updated six (6) unit walk-up located on a quiet, tree lined street just outside of Jackson Park. The subject site sits just blocks away from South Shore's Stony Island train stop, the Jackson Park Golf Course, and steps from the developing Obama Presidential Library. Conveniently, the building is situated amongst an assortment of shopping and grocery selections. 1444 E. 67th Pl. is entirely composed of six (6) 3bd/1ba units, all of which are spacious and contain an abundance of natural light, as well as front balconies providing the tenants with an additional desirable feature. Currently, four (4) of the units have recently been updated with refinished floors, granite countertops, new appliances, along with modern and updated bathrooms. The last two (2) apartments are currently occupied by long term tenants who have called the building home for 15+ years. Furthermore, the building includes five (5) garage spots in the rear. Current ownership is not presently capitalizing on the garage, but similar enclosed garage spots are renting for $100/spot per month. 1444 E. 67th Pl. presents a unique opportunity to acquire a positive, cash-flowing asset in one of Chicago's most rapidly growing neighborhoods. From day one, an investor will realize an in-place cap rate of 9.09%. However, by updating the remaining two (2) units, stabilizing rents to market rate levels, and monetizing the available parking, an investor could achieve a cap rate of over 12%.

Last Agent to Sell the Property

Aaron Sklar

Kiser Group Realty Inc License #475161507 Listed on: 11/27/2023

Co-Listed By

Noah Birk

Kiser Group Realty Inc License #475125864

Last Buyer's Agent

Grigory Pekarsky

Vesta Preferred LLC License #471002400

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,348

Year Built

  • Built in 1912

Home Design

  • Garden Apartment

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 6 Bathrooms

Additional Features

  • 3-Story Property
  • Lot Dimensions are 59' x 140'
  • Radiator

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $284
  • Fuel Expense $7,300
  • Insurance Expense $4,326
  • Maintenance Expense $2,550
  • Manager Expense $4,674
  • Other Expense $2,900
  • Trash Expense $1,989
  • Water Sewer Expense $2,950
  • Operating Expense $33,921
  • Gross Income $98,400
  • Net Operating Income $59,559

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,348

Year Built

Built in 1912

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Garden Complex
  • Stories: 3
  • Year Built: 1912
  • 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: 18
  • Room: 0

Garage/Parking

  • Indoor Parking: 1-5 Spaces

Utilities

  • Heat/Ventilation: Radiators

Condo/Co-op/Association

  • Manager Expense: 4674

Fee Information

  • Trash Expense: 1989
  • Water Sewer Expenses: 2950

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 59' X 140'

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Multi Family

  • Net Operating Income: 59559
  • Fuel Expense: 7300
  • Insurance Expense: 4326
  • ElectricExpense: 284
  • GrossIncome: 98400
  • Maintenance Expense: 2550
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 33921
  • Type Multi-Family: Garden Complex

Tax Info

  • Tax Annual Amount: 5348
  • Tax Year: 2022

Range of Values:

--
Value Increase
--
Percent Increase
--
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
06/13/2024 06/13/24 Sold $580,000 -7.5% $77 / Sq Ft
04/18/2024 04/18/24 Pending -- -- --
03/14/2024 03/14/24 Price Changed $627,000 -4.3% $84 / Sq Ft
11/28/2023 11/28/23 For Sale $655,000 -- $87 / 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
  • Grigory Pekarsky

    Buyer's Agent in 2024

    Grigory Pekarsky

    Vesta Preferred LLC

    (773) 974-8014

    1 in this area

    1,867 Total Sales

    Grigory Pekarsky
    Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11938141

Midwest Real Estate Data (MRED)

APN: 20234020130000

Illinois Cook County Chicago 60637 Grand Crossing

1444 E 67th Place, Chicago, IL

Not Listed for Sale

MultiFamily

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