NOT LISTED FOR SALE

Estimated Value: $456,287

1 Bed
8 Baths
-- Sq Ft
6,098 Sq Ft Lot

Last Sold February 05, 2020

Last sale price $337,500

Est. 35% increase in value since last sale

Current estimated payment $2,847/month

376 Days on Market

About This Home

As of February 2020

Own a South Shore, mixed-use commercial property right on 71st Street retail strip. Solid brick corner lot 2 blocks from Starbucks. Over 5000sf of ground level commercial space zoned B3-3. Can be subdivided into 5 separate 1000sf retail spaces leased @ $12sf. No current commercial leases allow build out to maximize rental income. Entire 2nd floor is 4200sf with 8 residential studio apartments. All updates done and no city violations. Brand new Porch and other improvements. Entire Commercial space is leased and also 4 of the 8 studio apartments also leased.

Last Agent to Sell the Property

Fahim Aref

Freedom Realty Group LLC License #475155349 Listed on: 01/02/2019

Last Buyer's Agent

Paul Johnson

Web Property Manager LLC License #471020242

Property Details

Home Type

  • Multi-Family

Year Built

  • 1924

Lot Details

  • 6,098

Home Design

  • Brick Exterior Construction

Utilities

  • Central Air

Community Details

  • Fuel Expense $3,000
  • Insurance Expense $4,000

Listing and Financial Details

  • Tenant pays for electric, heat

Property Details

Home Type

Multi-Family

Year Built

1924

Lot Details

0

Listing Details

  • Property Type: Multi Family 5+
  • Built Before 1978 (Y/N): Yes
  • Zoning Type: COMMR
  • Estimated Age: Older
  • Net Operating Income Year: 2017
  • Net Oper Income: 48000
  • Outdoor Parking: 1-5 Spaces
  • Total Annual Exp: 20000
  • Total Annual Income: 80000
  • Total Monthly Income: 4500
  • Number Of Stories: 5
  • Estimated Year Built: 1924
  • Type Multi Family: Corridor-Interior Entrance
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 5
  • Year Built: 1924

Exterior Features

  • Exterior Building Type: Brick
  • Construction: Brick

Garage/Parking

  • Number Of Parking Spaces: 3

Utilities

  • Air Conditioner: Central Air
  • Heatventilation: Central Heat/Indiv Controls, Forced Air, Gas
  • Water Expense: 2000

Condo/Co-op/Association

  • Units in Building: 13

Fee Information

  • Electricity Expense: 2400
  • Janitor Expense: 100

Lot Info

  • Lot Dimensions: 61X100
  • Lot Sq Ft: 6100
  • Parcel Identification Number: 20251030010000

Rental Info

  • Gross Rental Income: 50000
  • Tenant Pays: Electric, Heat

Multi Family

  • Expense Year: 2017
  • Fuel Expense: 3000
  • Gross Rent Multiplier: 10
  • Insurance Expense: 4000
  • Other Expenses: 2000

Tax Info

  • Taxes: 9000

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 12, 2025
Sold by
Hpk3 Capital Llc
Bought by
South Shore Chamber Community Development Cor
Current Estimated Value
$456,287

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Outstanding Balance
$646,724
Interest Rate
6.95%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jan 2, 2019
Closed on
Feb 3, 2020
Sold by
Fhmr Llc
Bought by
To Hpk3 Capital Llc
Seller's Agent
Fahim Aref
Freedom Realty Group LLC
Buyer's Agent
Paul Johnson
Web Property Manager LLC
List Price
$374,900
Sold Price
$337,500
Premium/Discount to List
-$37,400
-9.98%

Purchase Details

Closed on
Sep 25, 2015
Sold by
Hcb Development Vii Llc
Bought by
Fhmr Llc

Purchase Details

Closed on
Dec 11, 2014
Sold by
Hardwick Harry
Bought by
Hcb Development Vii Llc

Purchase Details

Closed on
Apr 19, 2006
Sold by
Chicago Title Land Trust Co
Bought by
Chicago Title Land Trust Co and Trust #1092378

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$250,000
Interest Rate
8.5%
Mortgage Type
Commercial

Purchase Details

Closed on
May 18, 1998
Sold by
Lasalle National Bank
Bought by
The Chicago Trust Company and Trust #1105826

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$116,000
Interest Rate
7.27%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 30, 1997
Sold by
Sheahan Michael F
Bought by
Lasalle National Bank and Trust #121276
Source: Public Records

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

Purchase History

Date Buyer Sale Price Title Company
South Shore Chamber Community Development Cor $600,000 Chicago Title
To Hpk3 Capital Llc $337,500 Old Republic Title
Fhmr Llc $105,000 None Available
Hcb Development Vii Llc -- None Available
Chicago Title Land Trust Co $420,000 First American
The Chicago Trust Company $80,000 --
Lasalle National Bank -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open South Shore Chamber Community Development Cor $650,000
Previous Owner Chicago Title Land Trust Co $250,000
Previous Owner The Chicago Trust Company $116,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/05/2020 02/05/20 Sold $337,500 -10.0% --
02/05/2020 02/05/20 For Sale $374,900 +11.1% --
01/31/2020 01/31/20 Off Market $337,500 -- --
01/13/2020 01/13/20 Pending -- -- --
08/21/2019 08/21/19 Price Changed $374,900 0.0% --
07/25/2019 07/25/19 Price Changed $375,000 -3.6% --
05/16/2019 05/16/19 Price Changed $389,000 -2.5% --
03/28/2019 03/28/19 For Sale $399,000 0.0% --
03/28/2019 03/28/19 Price Changed $399,000 +14.3% --
02/12/2019 02/12/19 Pending -- -- --
01/02/2019 01/02/19 For Sale $349,000 -- --
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 $17,213 $76,397 $10,858 $65,539
2023 $16,456 $63,442 $5,490 $57,952
2022 $16,456 $63,442 $5,490 $57,952
2021 $16,068 $63,441 $5,490 $57,951
2020 $15,897 $57,747 $5,490 $52,257
2019 $14,450 $57,747 $5,490 $52,257
2018 $14,117 $57,747 $5,490 $52,257
2017 $13,606 $51,567 $4,575 $46,992
2016 $12,618 $51,567 $4,575 $46,992
2015 $6,989 $31,408 $4,575 $26,833
2014 $11,473 $51,266 $4,575 $46,691
2013 $9,028 $40,800 $4,575 $36,225
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: MRD10162878

Midwest Real Estate Data (MRED)

APN: 20-25-103-001-0000