2935 S Throop St Chicago, IL 60608
Bridgeport NeighborhoodEstimated payment $8,458/month
About This Home
Large 7-unit brick apartment building at the coveted corner of Throop Street and 29th Street, offering a rare investment opportunity. This well-maintained property features spacious 1, 2, and 3-bedroom units, recently updated to attract quality tenants while retaining a few long-term residents for stability. With an annual rental income above 110,000, the below-market rents present significant upside potential for immediate revenue growth through strategic increases. Tenant-paid utilities and low operating expenses ensure strong cash flow, making this a low-maintenance, high-yield asset. The building's financial appeal is further enhanced by a successful 2024 tax appeal, resulting in a reduced property tax burden. Its corner location provides excellent visibility and accessibility, ideal for sustained tenant demand. With modern updates already in place and minimal upkeep required, this property is positioned for both short-term gains and long-term appreciation. Don't miss the chance to acquire a turnkey multifamily investment with immediate value-add potential in a thriving rental market.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $15,526
Year Built
- Built in 1920
Lot Details
- 2,863 Sq Ft Lot
- Lot Dimensions are 25x115
Home Design
- Brick Exterior Construction
Interior Spaces
- 6,440 Sq Ft Home
- 3-Story Property
- Exterior Basement Entry
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Gas
- Separate Meters
Community Details
- 7 Units
- Gross Income $110,280
Map
Home Values in the Area
Average Home Value in this Area
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 | $15,526 | $80,632 | $4,275 | $76,357 |
| 2023 | $15,135 | $73,585 | $5,700 | $67,885 |
| 2022 | $15,135 | $73,585 | $5,700 | $67,885 |
| 2021 | $15,761 | $78,377 | $5,700 | $72,677 |
| 2020 | $10,183 | $45,713 | $5,700 | $40,013 |
| 2019 | $9,184 | $45,713 | $5,700 | $40,013 |
| 2018 | $9,030 | $45,713 | $5,700 | $40,013 |
| 2017 | $8,246 | $38,306 | $4,275 | $34,031 |
| 2016 | $7,672 | $38,306 | $4,275 | $34,031 |
| 2015 | $7,019 | $38,306 | $4,275 | $34,031 |
| 2014 | $6,077 | $32,755 | $2,850 | $29,905 |
| 2013 | $5,957 | $32,755 | $2,850 | $29,905 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/20/2025 06/20/25 | For Sale | $1,325,000 | +84.0% | $206 / Sq Ft |
| 12/20/2016 12/20/16 | Sold | $720,000 | -8.7% | -- |
| 09/27/2016 09/27/16 | Pending | -- | -- | -- |
| 09/13/2016 09/13/16 | For Sale | $789,000 | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $545,000 | Commercial | |
| Closed | $250,000 | Commercial |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12399264
APN: 17-29-413-043-0000
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