NOT LISTED FOR SALE

1640 S Springfield Ave Chicago, IL 60623

North Lawndale Neighborhood
15 Beds
6 Baths
6,573 Sq Ft
4,680 Sq Ft Lot

Last Sold October 01, 2024

Last sale price $300,000 $46 Per Sq Ft

8 Days on Market

About This Home

As of October 2024

Vintage at its best see this 6-unit brick walk-up 12' high ornamental iron fence/gated entry. Spacious, open, airy, sunny apartments. The building comprises six spacious units : 3 units -with 3 bedrooms and 1 bathroom- one of the units on the front is occupied: 2 of the 3bedroom unit need renovation (1F and 2f). New bathroom fixtures still in the box come with building: 3 units - with 2 bedrooms and 1 bathroom on the back of building all occupied. Double entry to all units: Invest, take up residence, or hold for income. Excellent transportation with downtown only 10 minutes away via Metra, CT. 48-hour notice.

Last Agent to Sell the Property

Betty Clayton

Sincere Real Estate & Property Management License #471002845 Listed on: 08/15/2024

Last Buyer's Agent

Victor Jimenez

Berkshire Hathaway HomeServices American Heritage License #475157367

Berkshire Hathaway HomeServices American Heritage

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,774

Year Built

  • Built in 1910

Lot Details

  • 4,680 Sq Ft Lot
  • Lot Dimensions are 36x130

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction
  • Membrane Roofing
  • Concrete Perimeter Foundation

Interior Spaces

  • 6,573 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 15 Bedrooms
  • 6 Bathrooms

Utilities

  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for electricity, heat

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $500
  • Insurance Expense $2,700
  • Trash Expense $1,320
  • Water Sewer Expense $3,000
  • Operating Expense $11,500
  • Gross Income $4,900
  • Net Operating Income $38,475

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,774

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Flats
  • Stories: 3
  • Year Built: 1910
  • Built Before 1978 (Y/N): Yes
  • Information: 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: 15
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Concrete Perimeter
  • Frontage Type: City Street
  • Roof: Membrane
  • Exterior Building Type: Brick
  • Roof Structure: Flat
  • Misc Outside: Balcony/ies

Utilities

  • Heat/Ventilation: Electric,Gas

Fee Information

  • Trash Expense: 1320
  • Water Sewer Expenses: 3000

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 36X130
  • Lot Size Sq Ft: 4680
  • Zoning: MULTI
  • Land Amenities: Security Entrance,Sidewalks

Rental Info

  • Tenant Pays: Electricity, Heat
  • Board Number: 10

Building Info

  • BuildingAreaTotal: 6573

Multi Family

  • Net Operating Income: 38475
  • Insurance Expense: 2700
  • ElectricExpense: 500
  • GrossIncome: 4900
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 11500
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 2774
  • Tax Year: 2023

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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 Prior Sale
10/01/2024 10/01/24 Sold $300,000 +5.3% $46 / Sq Ft
08/23/2024 08/23/24 Pending -- -- --
08/15/2024 08/15/24 For Sale $285,000 0.0% $43 / Sq Ft
08/23/2016 08/23/16 Sold $285,000 -5.0% -- View Prior Sale
03/17/2016 03/17/16 Pending -- -- --
12/14/2015 12/14/15 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
2025 $5,293 $48,000 $6,734 $41,266
2024 $5,293 $48,000 $6,734 $41,266
2023 $5,159 $25,000 $5,457 $19,543
2022 $5,159 $25,000 $5,457 $19,543
2021 $5,044 $24,999 $5,456 $19,543
2020 $4,442 $19,876 $5,456 $14,420
2019 $4,605 $22,846 $5,456 $17,390
2018 $4,527 $22,846 $5,456 $17,390
2017 $4,120 $19,074 $4,876 $14,198
2016 $3,320 $19,074 $4,876 $14,198
2015 $3,015 $19,074 $4,876 $14,198
2014 $4,275 $23,040 $4,644 $18,396
2013 $4,190 $23,040 $4,644 $18,396
Source: Public Records

Agents Affiliated with this Home

  • Betty Clayton

    Seller's Agent in 2024

    Betty Clayton

    Sincere Real Estate & Property Management

    (708) 207-4818

    1 in this area

    19 Total Sales

    Betty Clayton
    Section Image
  • Victor Jimenez

    Buyer's Agent in 2024

    Victor Jimenez

    Berkshire Hathaway HomeServices American Heritage

    (773) 968-0238

    7 in this area

    80 Total Sales

    Victor Jimenez
    Section Image
  • Bruce Hackel

    Seller's Agent in 2016

    Bruce Hackel

    RE/MAX 10

    (708) 846-8686

    102 Total Sales

    Bruce Hackel
    Section Image

  • J

    Buyer's Agent in 2016

    Jerry Morales

    Golden City Realty, Inc.

    (773) 807-9085

    1 in this area

    148 Total Sales

    Jerry Morales
    Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12139639

Midwest Real Estate Data (MRED)

APN: 16233010340000

Illinois Cook County Chicago 60623 North Lawndale

1640 S Springfield Ave, Chicago, IL

Not Listed for Sale

MultiFamily

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