NOT LISTED FOR SALE

2317 W Chase Ave Chicago, IL 60645

West Ridge Neighborhood
17 Beds
13 Baths
-- Sq Ft
1927 Built

Last Sold March 05, 2021

Last sale price $1,675,000

50 Days on Market

About This Home

As of March 2021

2317-2325 W. Chase Ave. is comprised of nine (9) 1Bd/1Ba, two (2) 2Bd/1Ba, one (1) 4Bd/2Ba, and two (2) parking spaces in the rear. The building features a boiler, a new A.O. Smith hot water heater installed in 2019, 200 amp electric service, and coin-operated laundry. The apartments feature radiator heat, hardwood floors, white appliances, wood cabinetry, laminate countertops, separate dining rooms, and window air conditioning units. The Property presents investors with multiple investment strategies. There is potential for a new owner to bring rents to market over time. For example, two-bedroom units at the building currently average $1,165/month, while nearby vintage units rent for $1,200-$1,250/month. Alternatively, investors may elect to update the units with modern finishes, individual HVAC, and in-unit laundry to achieve premium market rents. Nearby, renovated two-bedroom units rent for $1,300-$1,350/month.

Last Agent to Sell the Property

Niko Apostal

Essex 312, LLC License #471017557 Listed on: 10/19/2020

Last Buyer's Agent

Non Member

NON MEMBER

Property Details

Home Type

  • Multi-Family

Year Built

  • 1927

Home Design

  • Brick Exterior Construction

Utilities

  • Partial Air Conditioning Available

Community Details

  • Fuel Expense $10,084
  • Insurance Expense $5,494
  • Manager Expense $8,612

Listing and Financial Details

  • Tenant pays for electric

Property Details

Home Type

Multi-Family

Year Built

1927

Lot Details

0

Listing Details

  • Property Type: Multi Family 5+
  • Built Before 1978 (Y/N): Yes
  • Zoning Type: MULTI
  • Estimated Age: Older
  • Net Operating Income Year: 2019
  • Net Oper Income: 101103
  • Outdoor Parking: 1-5 Spaces
  • Repairs Decor Expense: 5400
  • Scavenger Expense: 1554
  • Total Annual Exp: 71133
  • Total Annual Income: 172235
  • Total Monthly Income: 15108
  • Number Of Refrigs: 12
  • Number Of Stories: 3
  • Estimated Year Built: 1927
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3
  • Year Built: 1927

Exterior Features

  • Exterior Building Type: Brick

Garage/Parking

  • Number Of Parking Spaces: 2

Utilities

  • Air Conditioner: Partial
  • Heatventilation: Gas
  • Water Expense: 5443

Condo/Co-op/Association

  • Units in Building: 12
  • Manager Expense: 8612

Fee Information

  • Electricity Expense: 558
  • Janitor Expense: 4800

Lot Info

  • Lot Dimensions: 50X142
  • Parcel Identification Number: 11303190010000

Rental Info

  • Gross Rental Income: 181301
  • Tenant Pays: Electric

Multi Family

  • Expense Year: 2019
  • Fuel Expense: 10084
  • Insurance Expense: 5494
  • Other Expenses: 4800
  • Number Of Dryers: 2
  • Number Of Washers: 2

Tax Info

  • Taxes: 19401

Range of Values:

Collateral Analytics

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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

Property History

Date Event Price List to Sale Price per Sq Ft
03/05/2021 03/05/21 Sold $1,675,000 -4.3% --
12/08/2020 12/08/20 Pending -- -- --
10/19/2020 10/19/20 For Sale $1,750,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Niko Apostal

    Seller's Agent in 2021

    Niko Apostal

    Essex 312, LLC

    (773) 516-0661

    1 in this area

    174 Total Sales

    Niko Apostal
    Section Image

  • N

    Buyer's Agent in 2021

    Non Member

    NON MEMBER

See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: MRD10911404

Midwest Real Estate Data (MRED)

APN: 11303190010000

Illinois Cook County Chicago 60645 West Ridge

2317 W Chase Ave, Chicago, IL

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