Seller's Agent in 2025
Michael Reyes
Showcase Chicago Realty
(312) 880-9409
1 in this area
44 Total Sales
2857 W 71st St Chicago, IL 60629
Marquette Park Neighborhood
--
Bed
--
Bath
--
Sq Ft
1958
Built
About This Home
As of August 2025Attention Investors, Rehabbers, Developers! Exceptional value-add opportunity in the heart of Chicago's Marquette Park neighborhood. This solid 12-unit multifamily building features a desirable unit mix: 8 two-bedroom units, 2 one-bedroom units, and 2 studios, all served by a hydronic radiant floor heating system. With existing rents well below market, the property offers substantial upside through lease-up, rental repositioning, and renovation. Located directly across from the expansive Marquette Park-featuring walking trails, a lagoon, golf course, sports fields, and year-round recreational amenities-this location is well-suited to attract and retain long-term tenants. On-site parking for 7-8 vehicles (currently unassigned) adds further convenience and value. Estimated at a 9 cap rate with room for growth, this is a compelling opportunity for investors seeking to unlock value in a well-located multifamily asset.
Last Agent to Sell the Property
Showcase Chicago Realty License #471022452 Listed on: 07/24/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $14,150
Year Built
- Built in 1958
Parking
- 6 to 12 Parking Spaces
Utilities
- No Cooling
- Radiant Heating System
Additional Features
- 2-Story Property
- Additional Parcels
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 12 Units
Building Details
- Electric Expense $1,553
- Fuel Expense $9,365
- Insurance Expense $3,275
- Trash Expense $11,379
- Water Sewer Expense $5,874
- Operating Expense $48,722
- Gross Income $63,900
- Net Operating Income $15,178
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/21/2025 08/21/25 | Sold | $630,000 | -10.0% | -- |
| 07/29/2025 07/29/25 | Pending | -- | -- | -- |
| 07/24/2025 07/24/25 | For Sale | $699,900 | -- | -- |
Source: Midwest Real Estate Data (MRED)
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 |
|---|---|---|---|---|
| 2025 | $7,825 | $43,914 | $4,221 | $39,693 |
| 2024 | $7,825 | $43,914 | $4,221 | $39,693 |
| 2023 | $7,628 | $37,088 | $3,799 | $33,289 |
| 2022 | $7,628 | $37,088 | $3,799 | $33,289 |
| 2021 | $7,458 | $37,086 | $3,798 | $33,288 |
| 2020 | $7,420 | $33,309 | $3,798 | $29,511 |
| 2019 | $6,692 | $33,309 | $3,798 | $29,511 |
| 2018 | $6,580 | $33,309 | $3,798 | $29,511 |
| 2017 | $6,868 | $30,204 | $3,482 | $26,722 |
| 2016 | $6,379 | $30,204 | $3,482 | $26,722 |
| 2015 | $5,848 | $30,204 | $3,482 | $26,722 |
| 2014 | $5,654 | $28,784 | $3,482 | $25,302 |
| 2013 | $5,549 | $28,784 | $3,482 | $25,302 |
Source: Public Records
Agents Affiliated with this Home
-
Michael Reyes
-
Vanessa Villalva
Buyer's Agent in 2025
Vanessa Villalva
MIDWEST HOMES OF IL LLC
(773) 954-0417
4 in this area
84 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12425932
APN: 19251060010000
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Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID
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