NOT LISTED FOR SALE
6 Beds
13 Baths
-- Sq Ft
8,712 Sq Ft Lot

Last Sold October 16, 2019

Last sale price $395,000

85 Days on Market

About This Home

As of October 2019

UNDER NEW MANAGEMENT, IMPROVED FINANCIALS & A $50K PRICE REDUCTION! Corner brick legal 13-unit apartment building located in the Chicago Lawn area of Chicago, Illinois. The property features on-site laundry, 2-car garage, huge gated back yard and entrance. Boiler heat along with separate meters for cooking gas and electric. The unit mix of the building consists of eight (8) studio/1-bath units, four (4) 1-bedroom/1-bath units and one (1) 2-bedroom/1-bath unit. Many capital improvements have been completed including new rubber roof (2017), 1/3 of the apartments have been updated which included new appliances at the time plus a new rubber roof (2017), updated boiler, hot water heater/tank, porches up to code (2012) and updated electrical panels. New management is currently releasing building so easy to show with 24 hours notice. Please note: 8 units have been updated and rented. 5 still are in the process of being updated. Financials Reflect a fully updated and rented building (ProForma)

Last Agent to Sell the Property

Kevin Rocio

@properties Commercial License #475128895 Listed on: 05/14/2019

@properties Commercial

Co-Listed By

Matthew Neistat

Jameson Sotheby's Intl Realty License #475156088

Last Buyer's Agent

Michael Tolliver

Atlas Asset Management Realty LLC License #471012301

Property Details

Home Type

  • Multi-Family

Year Built

  • 1927

Lot Details

  • 8,712

Home Design

  • Brick Exterior Construction
  • Slab Foundation

Additional Features

  • Partially Finished Basement

Community Details

  • Fuel Expense $13,123
  • Insurance Expense $6,340
  • Manager Expense $8,652

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
  • Current Use: Residential-Multi-Family
  • Ownership Type: Limited Liability Corp
  • Zoning Type: MULTI
  • Estimated Age: Older
  • Net Operating Income Year: 2018
  • Net Oper Income: 46734
  • Repairs Decor Expense: 5850
  • Roof Coverings: Rubber
  • Roof Structure: Flat
  • Scavenger Expense: 1256
  • Total Annual Exp: 64281
  • Total Annual Income: 111015
  • Total Monthly Income: 10279
  • Number of Ranges: 13
  • Number Of Refrigs: 13
  • Number Of Stories: 2
  • Estimated Year Built: 1927
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2
  • Year Built: 1927

Interior Features

  • Basement: Partially Finished

Exterior Features

  • Foundation: Concrete
  • Exterior Building Type: Brick
  • Acreage: 0.2
  • Construction: Brick

Garage/Parking

  • Indoor Parking: 1-5 Spaces
  • Number Of Parking Spaces: 2

Utilities

  • Heatventilation: Gas
  • Water Expense: 9958

Condo/Co-op/Association

  • Units in Building: 13
  • Manager Expense: 8652

Fee Information

  • Electricity Expense: 556
  • Janitor Expense: 1950

Lot Info

  • Lot Dimensions: 60X150
  • Lot Sq Ft: 9000
  • Parcel Identification Number: 19244040010000

Rental Info

  • Gross Rental Income: 9800
  • Tenant Pays: Electric

Multi Family

  • Expense Year: 2018
  • Fuel Expense: 13123
  • Insurance Expense: 6340
  • Other Expenses: 6737
  • Number Of Dryers: 2
  • Number Of Washers: 2

Tax Info

  • Taxes: 9859

Range of Values:

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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 Change Sq Ft Price
10/16/2019 10/16/19 Sold $395,000 -16.8% --
08/07/2019 08/07/19 Pending -- -- --
07/24/2019 07/24/19 Price Changed $475,000 -5.0% --
07/10/2019 07/10/19 Price Changed $500,000 -4.8% --
05/14/2019 05/14/19 For Sale $525,000 -- --
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: MRD10379104

Midwest Real Estate Data (MRED)

APN: 19244040010000