NOT LISTED FOR SALE

2506 W 55th St Chicago, IL 60632

Gage Park Neighborhood

Estimated Value: $232,000 - $316,000

3 Beds
2 Baths
1,710 Sq Ft
$158/Sq Ft Est. Value

Last Sold September 26, 2018

Last sale price $50,000 $29 Per Sq Ft

Est. 463% increase in value since last sale

Current estimated payment $1,762/month

74 Days on Market

Highlights

  • Fenced Yard
  • Property is near a bus stop
  • 3-minute walk to Gage Park
  • Detached Garage
  • East or West Exposure

About This Home

As of September 2018

Investors and Rehabbers come take a look at this opportunity in Gage Park. Property is in need of a complete gut rehab. Property is right across from the park. Do not miss this opportunity it will not last long !!. Property is sold AS-IS. No Disclosures provided by seller. Buyer to purchase subject to City of Chicago Building Violations and Housing Demo Court Case (Case # 18M1400519). Buyer to complete there due diligence and verify room count.Listing Broker & Seller assume no responsibility & make no guarantees/warranties or representations as to the availability or accuracy of the property information, photographs or other information depicted/described herein.

Last Agent to Sell the Property

Matthew Alter

Lake Street Realty Group LLC License #475170612 Listed on: 05/27/2018

Last Buyer's Agent

Jose Nunez

35th Street Realty Inc License #475139300

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,758

Year Built

  • 1883

Lot Details

  • East or West Exposure
  • Fenced Yard

Parking

  • Detached Garage
  • Parking Included in Price
  • Garage Is Owned

Home Design

  • Stucco Exterior

Additional Features

  • Basement Fills Entire Space Under The House
  • Property is near a bus stop

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,758

Year Built

1883

Lot Details

0

Parking

2

Listing Details

  • Property Type: Detached Single
  • Built Before 1978 (Y/N): Yes
  • General Information: Commuter Bus
  • Age: 100+ Years
  • Full Bathrooms: 1
  • Half Bathrooms: 1
  • Ownership: Fee Simple
  • Total Full or Half Bathrooms: 1.1
  • Type Detached: 2 Stories
  • Estimated Year Built: 1883
  • Special Features: None
  • Property Sub Type: Detached
  • Year Built: 1883

Interior Features

  • Number Of Rooms: 6
  • Living Room: Dimensions: 10X10, On Level: Main Level
  • Basement: Full
  • Basement: Unfinished
  • Bedrooms All Levels: 3
  • Above Grade Bedrooms: 3
  • Kitchen Type: Dimensions: 10X10, On Level: Main Level
  • Additional Rooms: No additional rooms
  • Master Bedroom: Dimensions: 10X10, On Level: 2nd Level
  • Bedroom 2: Dimensions: 10X10, On Level: 2nd Level
  • Bedroom 3: Dimensions: 10X10, On Level: 2nd Level
  • Estimated Sq Ft: 1710
  • Family Room: Dimensions: 10X10, On Level: Main Level

Exterior Features

  • Lot Size: Less Than .25 Acre
  • Exterior Building Type: Stucco
  • Exposure: W (West)
  • Acreage: 0.0897

Garage/Parking

  • Number of Cars: 2
  • Parking: Garage
  • Garage Type: Detached
  • Garage On Site: Yes
  • Number Garage Spaces: 2
  • Parking Included In Price: Yes
  • Garage Ownership: Owned

Utilities

  • Water: Public
  • Sewer: Sewer-Public

Condo/Co-op/Association

  • Special Assessments: U
  • Assessed Sq Ft: 1710

Schools

  • School District: 299
  • Junior High Dist: 299

Lot Info

  • Lot Dimensions: 3906
  • Lot Description: Fenced Yard
  • Parcel Identification Number: 19124290200000

Tax Info

  • Taxes: 2490.45

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 31, 2020
Sold by
Mg Property Investment Llc
Bought by
Gomez Pedro Villagomez
Current Estimated Value
$281,321

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$185,250
Interest Rate
2.99%
Mortgage Type
New Conventional

Purchase Details

Listed on
May 27, 2018
Closed on
Nov 21, 2018
Sold by
Gomez Marcelo
Bought by
Mg Property Investment Llc
Seller's Agent
Matthew Alter
Lake Street Realty Group LLC
Buyer's Agent
Jose Nunez
35th Street Realty Inc
List Price
$70,000
Sold Price
$50,000
Premium/Discount to List
-$20,000
-28.57%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
27.39%
Original Mortgage
$85,000
Interest Rate
4.8%
Mortgage Type
Balloon

Purchase Details

Listed on
May 27, 2018
Closed on
Aug 31, 2018
Sold by
Semper Fidelis Llc
Bought by
Gomez Marcelo
Seller's Agent
Matthew Alter
Lake Street Realty Group LLC
Buyer's Agent
Jose Nunez
35th Street Realty Inc
List Price
$70,000
Sold Price
$50,000
Premium/Discount to List
-$20,000
-28.57%

Purchase Details

Listed on
May 27, 2018
Closed on
Aug 9, 2018
Sold by
Viramontes Rosa Maria L
Bought by
Semper Fidelis Llc
Seller's Agent
Matthew Alter
Lake Street Realty Group LLC
Buyer's Agent
Jose Nunez
35th Street Realty Inc
List Price
$70,000
Sold Price
$50,000
Premium/Discount to List
-$20,000
-28.57%
Source: Public Records

Range of Values:

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Average Value
Not Available
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

Purchase History

Date Buyer Sale Price Title Company
Gomez Pedro Villagomez $195,000 Fidelity National Title
Mg Property Investment Llc -- Fidelity National Title
Gomez Marcelo $50,000 Old Republic Title
Semper Fidelis Llc $1,500 Old Republic Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Gomez Pedro Villagomez $185,250
Previous Owner Mg Property Investment Llc $171,090
Previous Owner Mg Property Investment Llc $85,000
Previous Owner Viramontes Rosa Maria L $25,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/26/2018 09/26/18 Sold $50,000 -16.5% $29 / Sq Ft
08/09/2018 08/09/18 Pending -- -- --
06/15/2018 06/15/18 Price Changed $59,900 -7.7% $35 / Sq Ft
06/06/2018 06/06/18 Price Changed $64,900 -7.3% $38 / Sq Ft
05/27/2018 05/27/18 For Sale $70,000 -- $41 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Tax History

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
2024 $2,758 $16,000 $1,953 $14,047
2023 $2,689 $13,000 $3,320 $9,680
2022 $2,689 $13,000 $3,320 $9,680
2021 $2,614 $12,999 $3,320 $9,679
2020 $3,069 $13,686 $3,320 $10,366
2019 $3,109 $15,378 $3,320 $12,058
2018 $2,374 $15,378 $3,320 $12,058
2017 $2,486 $14,850 $2,929 $11,921
2016 $2,490 $14,850 $2,929 $11,921
2015 $2,257 $14,850 $2,929 $11,921
2014 $2,039 $13,471 $2,734 $10,737
2013 $1,988 $13,471 $2,734 $10,737
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2018

    Matthew Alter

    Lake Street Realty Group LLC

    Section Image

  • J

    Buyer's Agent in 2018

    Jose Nunez

    35th Street Realty Inc

    (708) 656-9900

    25 Total Sales

    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: MRD09964333

Midwest Real Estate Data (MRED)

APN: 19-12-429-020-0000

Illinois Cook County Chicago 60629 Gage Park

2506 W 55th St, Chicago, IL

This home is located at 2506 W 55th St, Chicago, IL 60632 since 27 May 2018 and is currently estimated at $270,629, approximately $158 per square foot. This property was built in 1883. 2506 W 55th St is a home located in Cook County with nearby schools including Carson Elementary School, Kelly High School, and Horizon Science Academy – Southwest Chicago.

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