Seller's Agent in 2022
David McLennan
Pearson Realty Group
(312) 925-7938
4 in this area
27 Total Sales
1854 S Central Park Ave Chicago, IL 60623
North Lawndale Neighborhood
26
Beds
10
Baths
--
Sq Ft
6,100
Sq Ft Lot
About This Home
As of April 2022Beautiful 10 unit apartment building which actually has 2 separate addresses; 1852 and 1854 S. Central Park. 1854 has 3-3/1's and 1-2/1 and has been completely gutted and rehabbed. 1852 has 3-3/1's and 3-2/1's and was rehabbed a few years ago. New Elec, plumbing, windows, roof, etc. Most of the original hardwood floors could be saved, so they have been refinished. Top quality kitchen and bath cabinets and fixtures. Individual furnaces in each unit. Get top rents with this desirable unit mix in the best part of North Lawndale. Property will be delivered to new owner mostly vacant so they can lease up with their own choice of tenants. Pro forma income produces an 9.23% Cap Rate and 18.69% Cash on Cash Return at list price. As more and more investors, homeowners, and renters are discovering, North Lawndale is conveniently located approximately 6 miles west from the center of downtown Chicago, 1.5 miles south of the Eisenhower Expressway (I-290), and 2.4 miles north of the Stevenson Expressway (I-55). This property is located in the heart of North Lawndale, just 3/4 mile from Douglas Park (home to the renowned Riot Fest music festival) and just 1/2 block north of both the revitalized CTA #157 bus line and the CTA Pink Line (light rail) stop.
Last Agent to Sell the Property
Pearson Realty Group License #475165323 Listed on: 07/19/2021
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,504
Year Built
- Built in 1924
Lot Details
- 6,100 Sq Ft Lot
- Lot Dimensions are 50x122
Home Design
- Brick Exterior Construction
- Slab Foundation
Bedrooms and Bathrooms
- 26 Bedrooms
- 10 Bathrooms
Additional Features
- 3-Story Property
- Forced Air Heating System
Listing and Financial Details
- Tenant pays for electricity, heat
Community Details
Overview
- 10 Units
Building Details
- Electric Expense $1,200
- Fuel Expense $1,500
- Insurance Expense $4,500
- Maintenance Expense $2,000
- Manager Expense $5,000
- Other Expense $5,000
- Trash Expense $2,000
- Water Sewer Expense $3,500
- Operating Expense $53,143
- Gross Income $161,040
- Net Operating Income $96,625
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/15/2022 04/15/22 | Sold | $985,000 | -10.5% | -- |
| 08/24/2021 08/24/21 | Pending | -- | -- | -- |
| 07/19/2021 07/19/21 | For Sale | $1,100,000 | +214.3% | -- |
| 11/24/2019 11/24/19 | Sold | $350,000 | +7.7% | -- |
| 11/06/2019 11/06/19 | Pending | -- | -- | -- |
| 11/06/2019 11/06/19 | For Sale | $325,000 | -7.1% | -- |
| 08/01/2019 08/01/19 | Off Market | $350,000 | -- | -- |
| 07/12/2019 07/12/19 | Price Changed | $325,000 | -16.7% | -- |
| 06/18/2019 06/18/19 | For Sale | $390,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Agents Affiliated with this Home
-
David McLennan
-
LeRoi Catlin
Buyer's Agent in 2022
LeRoi Catlin
Kale Realty
(773) 653-9435
1 in this area
21 Total Sales
-
V
Seller's Agent in 2019
Vernon Armour
SA Realty Advisors LLC
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11161435
APN: 16233150480000
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