NOT LISTED FOR SALE
14 Beds
14 Baths
-- Sq Ft
10,454 Sq Ft Lot

Last Sold November 19, 2021

Last sale price $750,000

14 Days on Market

Highlights

  • 0.24 Acre Lot
  • Courtyard
  • Central Heating

About This Home

As of November 2021

* 9.52% In Place Cap Rate * Gross Income (w/ 5% vacancy) - $115,200 * NOI - $71,304. 3325 W. 61st Place is a recently rehabbed fourteen (14) unit courtyard building in Chicago's historic Chicago Lawn neighborhood. This property is tucked away on a quiet street full of single family homes, yet close to public transportation and minutes away from Chicago Midway International Airport. 3325 W. 61st Pl is comprised of fourteen (14) 1Bd/1Ba units with hardwood flooring throughout, ample sized bedrooms, and updated kitchens and appliances. Recent capital improvements to the building include, but are not limited to, majority copper plumbing, recent tuckpointing, and individual furnaces. 3325 W. 61st Pl. presents an investor with an opportunity to attain a positive cash flowing, turn-key property with an in place cap rate of 9.52% as well as a cash-on-cash return of 21.91%. By raising rents to levels already being achieved in the building, an investor has the ability to achieve a cap rate over 11.7% and a cash-on-cash return over 30.48%.

Last Agent to Sell the Property

Aaron Sklar

Kiser Group Realty Inc License #475161507 Listed on: 08/16/2021

Co-Listed By

Noah Birk

Kiser Group Realty Inc License #475125864

Last Buyer's Agent

Noah Birk

Kiser Group Realty Inc License #475125864

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,763

Year Built

  • Built in 1929

Lot Details

  • 10,454 Sq Ft Lot
  • Lot Dimensions are 84.4' x 123.8'

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 14 Bathrooms

Additional Features

  • 2-Story Property
  • Courtyard
  • Central Heating

Listing and Financial Details

  • Tenant pays for electricity, heat

Community Details

Overview

  • 14 Units

Building Details

  • Electric Expense $2,281
  • Fuel Expense $350
  • Insurance Expense $5,949
  • Maintenance Expense $7,500
  • Manager Expense $5,700
  • Other Expense $1,500
  • Trash Expense $2,651
  • Water Sewer Expense $4,000
  • Operating Expense $43,895
  • Gross Income $120,000
  • Net Operating Income $71,304

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,763

Year Built

Built in 1929

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Courtyard
  • Stories: 2
  • Year Built: 1929
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany,48-Hr Notice Required,Non-Disclosure Agreement
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 14
  • Total Bedrooms: 14
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • List Price: 749000

Garage/Parking

  • Indoor Parking: 6-12 Spaces

Utilities

  • Heat/Ventilation: Central Heat/Indiv Controls

Condo/Co-op/Association

  • Manager Expense: 5700

Fee Information

  • Trash Expense: 2651
  • Water Sewer Expenses: 4000
  • Janitor Expense: 4200

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.24
  • Lot Dimensions: 84.4' X 123.8'

Rental Info

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

Multi Family

  • Net Operating Income: 71304
  • Fuel Expense: 350
  • Insurance Expense: 5949
  • ElectricExpense: 2281
  • GrossIncome: 120000
  • Maintenance Expense: 7500
  • NumberOfUnitsTotal: 14
  • OperatingExpense: 43895
  • Type Multi-Family: Courtyard

Tax Info

  • Tax Annual Amount: 9763.37
  • Tax Year: 2019

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 List to Sale Price per Sq Ft Prior Sale
11/19/2021 11/19/21 Sold $750,000 +0.1% --
08/31/2021 08/31/21 Pending -- -- --
08/16/2021 08/16/21 For Sale $749,000 +130.5% --
09/25/2015 09/25/15 Sold $325,000 -18.7% -- View Prior Sale
08/05/2015 08/05/15 Pending -- -- --
06/16/2014 06/16/14 For Sale $399,900 -- --
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: 11190998

Midwest Real Estate Data (MRED)