NOT LISTED FOR SALE
17 Beds
14 Baths
6,009 Sq Ft
3,735 Sq Ft Lot

Last Sold December 29, 2023

Last sale price $1,625,000 $270 Per Sq Ft

35 Days on Market

About This Home

As of December 2023

2347 W. Thomas is a unique six-unit, plus non-conforming garden unit with approval for 2 ADUs, located in Chicago's hot Ukrainian Village Neighborhood. The front 4 units have undergone recent renovations, boasting modern finishes throughout, including updated kitchens, bathrooms, and flooring. Each apartment is equipped with in-unit laundry, individual HVAC units, and separate hot-water heaters. Situated within the sought-after Ukrainian Village Neighborhood, this property offers not only a prime location but also a myriad of benefits. Ukrainian Village has established itself as one of Chicago's most desirable neighborhoods, boasting picturesque tree-lined streets, excellent access to public transportation, thriving retail, and quick access to some of Chicago's best restaurants. This property presents an ideal opportunity for new investors to step in and capitalize on the potential for increased rental income in the recently refurbished units. Moreover, there is significant value-add potential in the three units at the rear of the property. As an added advantage, the city's new ADU program can be leveraged to introduce further value and appeal to the property.

Last Agent to Sell the Property

Brandon Carlson

Hideout III LLC License #471022323 Listed on: 10/06/2023

Last Buyer's Agent

Steve Zaleski

Compass License #475159790

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $22,223

Year Built

  • Built in 1915

Lot Details

  • 3,735 Sq Ft Lot

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 6,009 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 17 Bedrooms
  • 14 Bathrooms

Utilities

  • Central Air
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for air conditioning, electricity, heat, hot water

Community Details

Overview

  • 7 Units

Building Details

  • Electric Expense $1,450
  • Fuel Expense $465
  • Insurance Expense $3,830
  • Maintenance Expense $2,300
  • Trash Expense $4,065
  • Water Sewer Expense $2,749
  • Operating Expense $44,327
  • Gross Income $172,080
  • Net Operating Income $111,849

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$22,223

Year Built

Built in 1915

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Flats
  • Stories: 3
  • Year Built: 1915
  • Built Before 1978 (Y/N): Yes
  • New Construction Y/N: No
  • Information: 48-Hr Notice Required
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 14
  • Total Bedrooms: 17
  • Fireplaces: 7
  • Dishwashers: 7
  • Refrigerators: 7
  • Ranges: 7
  • Number of Washers: 7
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • List Price: 1765000
  • Exterior Building Type: Brick

Garage/Parking

  • Outdoor Parking: 1-5 Spaces

Utilities

  • Cooling: Central Air
  • Heat/Ventilation: Gas

Fee Information

  • Trash Expense: 4065
  • Water Sewer Expenses: 2749
  • Janitor Expense: 2940

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: PER SURVEY
  • Lot Size Sq Ft: 3735

Rental Info

  • Tenant Pays: Air Conditioning, Electricity, Heat, Hot Water
  • Board Number: 8

Building Info

  • BuildingAreaTotal: 6009

Multi Family

  • Net Operating Income: 111849
  • Fuel Expense: 465
  • Insurance Expense: 3830
  • ElectricExpense: 1450
  • GrossIncome: 172080
  • Maintenance Expense: 2300
  • NumberOfUnitsTotal: 7
  • OperatingExpense: 44327
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 22223
  • Tax Year: 2022

Range of Values:

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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 Change Sq Ft Price
12/29/2023 12/29/23 Sold $1,625,000 -7.9% $270 / Sq Ft
11/16/2023 11/16/23 Pending -- -- --
10/11/2023 10/11/23 For Sale $1,765,000 -- $294 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11901349

Midwest Real Estate Data (MRED)

APN: 17063080060000