NOT LISTED FOR SALE

1625 S Blue Island Ave Chicago, IL 60608

Pilsen Neighborhood

Estimated Value: $535,198 - $597,000

4 Beds
3 Baths
-- Sq Ft
2,178 Sq Ft Lot

Last Sold February 09, 2018

Last sale price $440,000

Est. 29% increase in value since last sale

Current estimated payment $3,841/month

24 Days on Market

Highlights

  • Deck
  • Porch
  • 4-minute walk to Throop Park
  • Balcony

About This Home

As of February 2018

AMAZING LOCATION! MIXED USE BUILDING IN EAST PILSEN. GREAT LOCATION JUST DOWN THE BLOCK FROM LOOMIS/BLUE ISLAND/18TH ST INTERSECTION. SECOND FLOOR HAS A HUGE 2 BED, 2 BATH APARTMENT. RENTED FOR $2K. 203k Loan is perfect here. FIRST FLOOR is unfinished -HAS AN OPEN FLOOR PLAN THAT COULD POTENTIALLY HAVE A GALLERY OR SPACE FOR THE CLEVER ENTREPRENEUR. CoulBASEMENT with lower CEILING HEIGHT and not usable for much other than storage. PARKING PAD IN REAR. BRAND NEW REAR DECK AND FACADE IN FRONT. UNMETERED STREET PARKING IN FRONT. BLUE ISLAND BUS RUNS RIGHT IN FRONT AND GETS YOU DOWNTOWN QUICKLY. WALK OR BIKE TO UIC AND LITTLE ITALY AREA. EASY TO SHOW.Why not Use a fha 203k multi use loan. Why pay rent, This is 1 commercial(for office space/etc) on first floor and 1 residential on 2nd. The zoning isC-12 (commercial zoned land) . Seller prefers to have buyer build out main level . verify zoning etc. Can be sold as packaged deal with 1931 S Canalport for additional $479,900.

Last Agent to Sell the Property

Phil Buoscio

Keller Williams ONEChicago License #471004200 Listed on: 12/08/2017

Keller Williams ONEChicago

Last Buyer's Agent

Nathaniel Anderson

RCI Realty LLC

RCI Realty LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,193

Year Built

  • Built in 1885 | Remodeled in 2017

Lot Details

  • 2,178 Sq Ft Lot
  • Lot Dimensions are 25x100

Home Design

  • Rubber Roof
  • Vinyl Siding

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Potential Bedrooms
  • 3 Bathrooms

Unfinished Basement

  • Basement Fills Entire Space Under The House

Parking

  • 3 Parking Spaces
  • Uncovered Parking
  • Off-Street Parking
  • Assigned Parking

Outdoor Features

  • Balcony
  • Deck
  • Porch

Utilities

  • Heating System Uses Natural Gas
  • Lake Michigan Water

Community Details

  • 2 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,193

Year Built

Built in 1885 | Remodeled in 2017

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1885
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: Commuter Bus
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2017
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2017

Interior Features

  • Basement: Full
  • Total Bathrooms: 3
  • Total Bedrooms: 4
  • Basement Description: Unfinished
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 3
  • Half Bathrooms in Building: 0
  • MRD_AppliancesAndFeatures: None
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Dishwasher,Range Hood,Hardwood Floors

Exterior Features

  • ExteriorFeatures: Balcony, Deck, Porch
  • List Price: 479900
  • Roof: Rubber
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding

Garage/Parking

  • Parking Features: Assigned, Off Street
  • ParkingTotal: 3
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: N/A

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas
  • Water Source: Lake Michigan, Public

Schools

  • Middle/Junior School District: 299

Lot Info

  • Lot Size Acres: 0.05
  • Lot Dimensions: 25X100
  • Zoning: COMMR
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 8

Tax Info

  • Tax Annual Amount: 4193.4
  • Tax Year: 2015

Multi Family

  • Units in Building: 2
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 2 Flat

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 8, 2021
Sold by
1625 Blue Island Llc
Bought by
Mckelvey Daniel J Joseph
Current Estimated Value
$569,399

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$441,849
Outstanding Balance
$403,648
Interest Rate
2.62%
Mortgage Type
FHA
Estimated Equity
$197,490

Purchase Details

Closed on
Jan 22, 2020
Sold by
Dmc Irrevocable Llc
Bought by
1625 Blue Island Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$442,000
Interest Rate
8.25%
Mortgage Type
Commercial

Purchase Details

Listed on
Dec 8, 2017
Closed on
Feb 6, 2018
Sold by
3101 W Leland Llc
Bought by
Dmc Irrevocable Llc
Seller's Agent
Phil Buoscio
Keller Williams ONEChicago
Buyer's Agent
Nathaniel Anderson
RCI Realty LLC
List Price
$479,900
Sold Price
$440,000
Premium/Discount to List
-$39,900
-8.31%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.23%
Original Mortgage
$396,000
Interest Rate
1.1%
Mortgage Type
Commercial

Purchase Details

Listed on
May 20, 2016
Closed on
Dec 16, 2016
Sold by
Arroyo Gloria
Bought by
3101 W Leland Llc
Seller's Agent
Phil Buoscio
Keller Williams ONEChicago
Buyer's Agent
Phil Buoscio
Keller Williams ONEChicago
List Price
$299,899
Sold Price
$170,000
Premium/Discount to List
-$129,899
-43.31%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
130.29%

Purchase Details

Closed on
Feb 25, 2001
Sold by
Williams David and Arroyo Dora
Bought by
Arroyo Gloria and Trust #B11625

Purchase Details

Closed on
Aug 10, 2000
Sold by
Lazalde Julio and Lazalde Maria L
Bought by
Castaneda Manuel and Arroyo Irma

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$43,000
Interest Rate
8%
Mortgage Type
Commercial

Purchase Details

Closed on
May 21, 1996
Sold by
Midwest Real Estate Investment Company
Bought by
Lazalde Julio and Lazalde Maria Luisa
Source: Public Records

Range of Values:

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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

Purchase History

Date Buyer Sale Price Title Company
Mckelvey Daniel J Joseph $450,000 Chicago Title
1625 Blue Island Llc -- Fidelity National Title
Dmc Irrevocable Llc $440,000 First American Title Insuran
3101 W Leland Llc $170,000 Greater Illinois Title
Arroyo Gloria -- --
Castaneda Manuel $78,000 Chicago Title Insurance Co
Lazalde Julio $18,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mckelvey Daniel J Joseph $441,849
Previous Owner 1625 Blue Island Llc $442,000
Previous Owner Dmc Irrevocable Llc $396,000
Previous Owner 3101 W Leland Llc $310,000
Previous Owner Castaneda Manuel $43,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/09/2018 02/09/18 Sold $440,000 -8.3% --
01/01/2018 01/01/18 Pending -- -- --
12/08/2017 12/08/17 For Sale $479,900 +182.3% --
12/19/2016 12/19/16 Sold $170,000 0.0% --
09/22/2016 09/22/16 Off Market $170,000 -- --
08/31/2016 08/31/16 Price Changed $275,898 0.0% --
07/29/2016 07/29/16 Price Changed $275,899 -8.0% --
07/13/2016 07/13/16 Price Changed $299,897 0.0% --
07/06/2016 07/06/16 Price Changed $299,898 0.0% --
06/18/2016 06/18/16 For Sale $299,899 0.0% --
06/15/2016 06/15/16 Pending -- -- --
05/28/2016 05/28/16 Price Changed $299,899 0.0% --
05/20/2016 05/20/16 For Sale $299,900 -- --
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
2024 $8,862 $45,000 $8,880 $36,120
2023 $8,639 $42,000 $7,200 $34,800
2022 $8,639 $42,000 $7,200 $34,800
2021 $8,446 $42,000 $7,200 $34,800
2020 $6,382 $28,647 $5,640 $23,007
2019 $6,616 $32,928 $5,640 $27,288
2018 $6,504 $32,928 $5,640 $27,288
2017 $4,926 $22,884 $4,920 $17,964
2016 $4,583 $22,884 $4,920 $17,964
2015 $4,193 $22,884 $4,920 $17,964
2014 $3,863 $20,820 $4,320 $16,500
2013 $3,787 $20,820 $4,320 $16,500
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 09815092

Midwest Real Estate Data (MRED)

APN: 17-20-305-011-0000