NOT LISTED FOR SALE

1908 N Keystone Ave Chicago, IL 60639

Hermosa Neighborhood
10 Beds
6 Baths
-- Sq Ft
3,049 Sq Ft Lot

Sale Details

Date Sold: October 25, 2024

Last sale price $935,000

21 Days on Market

About This Home

As of October 2024

Introducing a fully rehabbed 5-unit income-generating property in the vibrant Hermosa neighborhood, perfect for investors seeking a lucrative opportunity. This massive brick 3-unit building, complemented by a gut-rehabbed 2-unit coach house, offers a combination of modern amenities, high-quality finishes, and excellent rental income potential. The front building comprises three spacious apartments, each featuring 5 rooms, including 2 bedrooms and 1 bathroom per floor. The interiors are finished with beautiful hardwood floors throughout. Each unit comes with separate gas-forced heating GFH & central AC systems and individual hot water tanks.. The kitchens are fully updated with 42-inch white cabinets, stainless steel appliances, and in-unit dishwashers. A tall, unfinished basement offers potential for further development or storage. A coin-operated washer and dryer are available in the basement, contributing to additional income. (CH1): This duplex-down unit features 3 bedrooms, 2 full baths, and a large kitchen-living room combo. The unit is equipped with in-unit side-by-side washer and dryer, providing a highly desirable amenity for tenants. (CH2): A cozy 1-bedroom, 1-bath apartment with a living room-kitchen combo. Both the main building and the coach house have undergone extensive renovations, including: New Electrical Systems: Updated with in-unit circuit breakers. Plumbing: New copper pipes throughout. Recently replaced. New GFH & Central AC systems and hot water tanks. All units feature new, modern kitchens and bathrooms. The coach house alone adds an impressive $3,400 per month to the property's total monthly income of $8,275, making this a true money maker. This property is a rare find, offering both immediate cash flow and long-term appreciation potential. With its prime location in Hermosa, high-quality renovations, and stable tenant base, this is an investment opportunity not to be missed.

Last Agent to Sell the Property

Arden Fowler

CHICAGO HANDSHAKE LLC License #471022824 Listed on: 08/15/2024

CHICAGO HANDSHAKE LLC

Last Buyer's Agent

Arden Fowler

CHICAGO HANDSHAKE LLC License #471022824 Listed on: 08/15/2024

CHICAGO HANDSHAKE LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,216

Year Built

  • Built in 1907

Lot Details

  • 3,049 Sq Ft Lot
  • Lot Dimensions are 25 x 125

Interior Spaces

  • 3-Story Property
  • Fire and Smoke Detector
  • Unfinished Basement

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 6 Bathrooms

Utilities

  • Forced Air Heating and Cooling System
  • 100 Amp Service

Listing and Financial Details

  • Tenant pays for electricity, heat

Community Details

Overview

  • 5 Units

Building Details

  • Electric Expense $525
  • Insurance Expense $3,342
  • Maintenance Expense $2,000
  • Other Expense $2,000
  • Water Sewer Expense $2,351
  • Operating Expense $20,268
  • Gross Income $8,240
  • Net Operating Income $78,612

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,216

Year Built

Built in 1907

Lot Details

3,049 Sq Ft Lot

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Other
  • Stories: 3
  • Year Built: 1907
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required,List Broker Must Accompany
  • Estimated Age: New Rehab
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 10
  • Basement Description: Unfinished
  • Fire Protection: Alarm On Site
  • Fireplaces: 1
  • Dishwashers: 5
  • Refrigerators: 5
  • Ranges: 5
  • Number of Washers: 1
  • Room: 0

Utilities

  • Cooling: Central Air
  • Electric: Circuit Breakers, Service - 101 to 200 Amps
  • Heat/Ventilation: Forced Air

Condo/Co-op/Association

  • Owners Association (Y/N): No

Fee Information

  • Water Sewer Expenses: 2351

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.07
  • Lot Dimensions: 25 X 125

Rental Info

  • Tenant Pays: Electricity, Heat
  • Board Number: 8
  • Tenancy Type: Leases

Building Info

  • Building Unit Info: Smoke/Alarm Detector

Multi Family

  • Net Operating Income: 78612
  • Insurance Expense: 3342
  • ElectricExpense: 525
  • GrossIncome: 8240
  • Maintenance Expense: 2000
  • NumberOfUnitsTotal: 5
  • OperatingExpense: 20268
  • Type Multi-Family: Other

Tax Info

  • Tax Annual Amount: 9216
  • Tax Year: 2023

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 15, 2024
Closed on
Oct 25, 2024
Sold by
Bought by
Seller's Agent
Arden Fowler
CHICAGO HANDSHAKE LLC
Buyer's Agent
Arden Fowler
CHICAGO HANDSHAKE LLC
List Price
$950,000
Sold Price
$935,000
Premium/Discount to List
-$15,000
-1.58%
Views
18

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$654,500
Interest Rate
0.0609%
Mortgage Type
New Conventional

Purchase Details

Listed on
Oct 3, 2018
Closed on
May 30, 2019
Sold by
Bought by
Seller's Agent
Dhereck Gomez
33 Realty
Buyer's Agent
Janet Roderick
@properties Christie's International Real Estate
List Price
$499,000
Sold Price
$465,000
Premium/Discount to List
-$34,000
-6.81%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.78%
Original Mortgage
$450,000
Interest Rate
0.042%
Mortgage Type
Construction

Purchase Details

Closed on
Jan 14, 2010
Sold by
Bought by

Purchase Details

Closed on
Mar 16, 2009
Sold by
Bought by

Purchase Details

Closed on
Nov 21, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$399,950
Interest Rate
0.0787%
Mortgage Type
Commercial

Purchase Details

Closed on
May 24, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$399,000
Interest Rate
0.0732%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 21, 2004
Sold by
Bought by

Purchase Details

Closed on
Apr 30, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$297,000
Interest Rate
0.0707%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 23, 1999
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$165,389
Interest Rate
0.0704%
Mortgage Type
FHA

Purchase Details

Closed on
Jun 26, 1998
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$935,000 None Listed On Document
$465,000 Greater Illinois Title
$89,100 Servicelink
-- None Available
$540,000 Multiple
$420,000 Lawyers
-- Git
$330,000 Chicago Title Insurance Co
$166,500 --
$208,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $654,500
Previous Owner $450,000
Previous Owner $399,950
Closed $399,000
Previous Owner $297,000
Previous Owner $165,389
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/25/2024 10/25/24 Sold $935,000 -1.6% --
09/05/2024 09/05/24 Pending -- -- --
08/15/2024 08/15/24 For Sale $950,000 +104.3% --
05/30/2019 05/30/19 Sold $465,000 -6.8% -- View Prior Sale
03/06/2019 03/06/19 Pending -- -- --
03/04/2019 03/04/19 For Sale $499,000 +7.3% --
03/03/2019 03/03/19 Off Market $465,000 -- --
10/03/2018 10/03/18 For Sale $499,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $9,216 $61,996 $8,125 $53,871
2024 $9,216 $77,000 $8,125 $68,875
2023 $8,982 $43,523 $6,500 $37,023
2022 $8,982 $43,523 $6,500 $37,023
2021 $8,781 $43,523 $6,500 $37,023
2020 $7,775 $34,776 $4,062 $30,714
2019 $8,286 $41,095 $4,062 $37,033
2018 $8,451 $42,784 $4,062 $38,722
2017 $9,690 $45,014 $3,575 $41,439
2016 $9,016 $45,014 $3,575 $41,439
2015 $8,249 $45,014 $3,575 $41,439
2014 $7,168 $38,636 $3,250 $35,386
2013 $7,027 $38,636 $3,250 $35,386
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12135477

Midwest Real Estate Data (MRED)
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