NOT LISTED FOR SALE

2501 N Richmond St Chicago, IL 60647

Logan Square Neighborhood
8 Beds
6 Baths
6,498 Sq Ft
6,098 Sq Ft Lot

Last Sold June 15, 2022

Last sale price $1,882,500 $290 Per Sq Ft

5 Days on Market

Highlights

  • 0.14 Acre Lot
  • Central Heating and Cooling System
  • 2-minute walk to Neighbors Garden Park

About This Home

As of June 2022

Charming Multi-Family Residential Complex (6-Units) Brown Brick Vintage Building in Prime Logan Square Neighborhood. Perfect blend of vintage, turn-of-the-century detailing coupled with new construction amenities. Property consists of (2) two-story masonry buildings- 2501 N. Richmond AND 2918-20 W. Altgeld, both renovated in 2014. The front building (2501 N. Richmond) contains (2) two-bedrooms, one-bath units; the rear building (2918-20 W. Altgeld) has (4) one-bed, one-bath units. Each unit features extremely large, airy, sunlight-drenched living and dining rooms, high coffered ceilings, built-in restored hutches, re-finished woodwork, new light fixtures & more. Incredible sunlight from lots of windows. Designer-specified finishes throughout. New kitchens boast granite countertops, soft-touch cabinets and drawers, and stainless-steel appliances including dishwashers, oven ranges, microwaves, and gas stoves. Washer and Dryer in every unit. Wi-Fi ready outlets. Central AC, separate heating and cooling, new electrical service. Secured basement storage. Exterior amenities include new porches, a brick patio and landscaped yard for good-weather hanging out. Property is one block to Logan Boulevard, and a short walk to Logan Square Blue Line el stop. Great retail and restaurants along Milwaukee Ave and Kedzie. Walk to Revolution Brewing, Lula's Cafe, Longman & Eagle and the critically acclaimed Logan Square Farmer's Market. Property is historically fully occupied due to its amazing location and condo-quality apartments. Currently brings in $158,544 annually, with room for rent increases. Tenants all pay separate utilities.

Last Agent to Sell the Property

Steve Kehoe

Compass License #475170862 Listed on: 04/27/2022

Compass

Last Buyer's Agent

Mark Buckner

Compass License #475154865

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $16,210

Year Built

  • Built in 1916

Lot Details

  • 6,098 Sq Ft Lot
  • Lot Dimensions are 25 x 125

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 6,498 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Utilities

  • Central Heating and Cooling System
  • Radiant Heating System
  • Separate Meters

Listing and Financial Details

  • Tenant pays for air conditioning, electricity, heat

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $571
  • Fuel Expense $33
  • Insurance Expense $4,607
  • Maintenance Expense $4,610
  • Manager Expense $7,621
  • Other Expense $535
  • Water Sewer Expense $2,590
  • Operating Expense $36,783
  • Gross Income $158,544
  • Net Operating Income $121,761

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$16,210

Year Built

Built in 1916

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 2
  • Year Built: 1916
  • Built Before 1978 (Y/N): Yes
  • New Construction Y/N: No
  • Information: List Broker Must Accompany
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 8
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • List Price: 1860000
  • Exterior Building Type: Brick

Garage/Parking

  • Indoor Parking: 1-5 Spaces

Utilities

  • Cooling: Central Air
  • Heat/Ventilation: Central Heat/Indiv Controls,Separate Per Unit,Radiant
  • Leased Washer Dryer YN: Yes

Condo/Co-op/Association

  • Manager Expense: 7621

Fee Information

  • Water Sewer Expenses: 2590
  • Janitor Expense: 0

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.14
  • Lot Dimensions: 25 X 125
  • Lot Size Sq Ft: 6098

Rental Info

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

Building Info

  • BuildingAreaTotal: 6498

Multi Family

  • Net Operating Income: 121761
  • Fuel Expense: 33
  • Insurance Expense: 4607
  • ElectricExpense: 571
  • GrossIncome: 158544
  • Maintenance Expense: 4610
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 36783
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 16210
  • Tax Year: 2020

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
06/15/2022 06/15/22 Sold $1,882,500 +1.2% $290 / Sq Ft
05/02/2022 05/02/22 Pending -- -- --
04/27/2022 04/27/22 For Sale $1,860,000 0.0% $286 / Sq Ft
11/10/2015 11/10/15 Under Contract -- -- --
11/10/2015 11/10/15 Rented $2,270 +4.6% --
10/29/2015 10/29/15 For Rent $2,170 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Steve Kehoe

    Seller's Agent in 2022

    Steve Kehoe

    Compass

    (513) 200-9082

    11 in this area

    138 Total Sales

    Steve Kehoe
    Section Image
  • Mark Buckner

    Buyer's Agent in 2022

    Mark Buckner

    Compass

    (312) 952-4458

    19 in this area

    165 Total Sales

    Mark Buckner
    Section Image
  • John Burks

    Seller's Agent in 2015

    John Burks

    @ Properties

    (773) 432-0200

    12 in this area

    68 Total Sales

    John Burks
    Section Image

  • P

    Buyer's Agent in 2015

    Paulette Rodriguez

    Baird Warner

    Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11386769

Midwest Real Estate Data (MRED)
Illinois Cook County Chicago 60647 Logan Square

2501 N Richmond St, Chicago, IL

This home is located at 2501 N Richmond St, Chicago, IL 60647 since 27 April 2022. This property was built in 1916. 2501 N Richmond St is a home located in Cook County with nearby schools including Brentano Math & Science Academy, Clemente Community Academy High School, and St. John Berchmans School.

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