NOT LISTED FOR SALE

Estimated Value: $692,482 - $900,000

7 Beds
4 Baths
-- Sq Ft
3,049 Sq Ft Lot

Last Sold June 05, 2015

Last sale price $431,100

Est. 74% increase in value since last sale

Current estimated payment $4,606/month

3 Days on Market

Highlights

  • Corner Lot
  • Forced Air Heating System
  • Ceiling Fan

About This Home

As of June 2015

Rare opportunity to own this fully rented income generating property in Logan Square. Perfect for new & experienced investors. Great 4 unit corner building with one commercial space featuring original tin ceilings & 5 off street parking spaces. Tenants pay their own gas and electric. Building rents quickly in this trendy neighborhood and has established long-term tenants.

Last Agent to Sell the Property

David Hilgart

Coldwell Banker Realty License #475163729 Listed on: 05/12/2015

Coldwell Banker Realty

Last Buyer's Agent

Allen Paul

Sheffield Group, Inc. License #471009012

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,107

Lot Details

  • Lot Dimensions are 25 x 124
  • Corner Lot
  • Paved or Partially Paved Lot

Home Design

  • Asphalt Roof
  • Vinyl Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • Ceiling Fan
  • Carbon Monoxide Detectors

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 7 Potential Bedrooms
  • 4 Bathrooms

Basement

  • Sump Pump
  • Crawl Space

Parking

  • 5 Parking Spaces
  • Uncovered Parking
  • Off-Street Parking
  • Parking Included in Price
  • Unassigned Parking

Schools

  • Mozart Elementary School
  • Kelvyn Park High School

Utilities

  • Forced Air Heating System
  • Vented Exhaust Fan
  • Heating System Uses Natural Gas
  • Individual Controls for Heating
  • Lake Michigan Water

Community Details

Overview

  • 4 Units
  • Palmer Square Subdivision

Building Details

  • Gross Income $40,200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,107

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Subdivision Name: PALMER SQUARE
  • Age: Unknown
  • Built Before 1978 (Y/N): Yes
  • General Information: Commuter Bus,Commuter Train,Interstate Access
  • Rehab (Y/N): No
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: None
  • Total Bathrooms: 4
  • Total Bedrooms: 7
  • Other Equipment: CO Detectors, Ceiling Fan(s), Fan-Attic Exhaust, Sump Pump
  • Basement Description: Crawl
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 4
  • Half Bathrooms in Building: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Window Air Conditioner,Range Hood,Cathedral Ceilings
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Range Hood
  • MRD_AppliancesAndFeatures: Range Hood
  • AppliancesAndFeatures: Stove,Refrigerator,Range Hood
  • Room: 4

Exterior Features

  • Foundation Details: Concrete Perimeter
  • List Price: 365000
  • Lot Features: Corner Lot
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding

Garage/Parking

  • Parking Features: Unassigned, Off Street
  • ParkingTotal: 5
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas, Forced Air, Indv Controls
  • Water Source: Lake Michigan, Public

Condo/Co-op/Association

  • Community Features: Sidewalks, Street Lights, Street Paved

Fee Information

  • Other Expenses $: 11261

Schools

  • Elementary School: MOZART ELEMENTARY SCHOOL
  • High School: KELVYN PARK HIGH SCHOOL
  • Middle/Junior School: MOZART ELEMENTARY SCHOOL
  • Middle/Junior School District: 299

Lot Info

  • Lot Dimensions: 25 X 124
  • Zoning: OTHER
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 10
  • Is Parking Included in Price: Yes
  • TenantPays: Electric,Gas,Heat

Multi Family

  • GrossIncome: 40200
  • Units in Building: 4
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 4 Flat

Tax Info

  • Tax Annual Amount: 5107.4
  • Tax Year: 2013
  • Tax Exemptions: None

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 2, 2017
Sold by
Ravenswood Management Llc
Bought by
Palmer Management Llc
Current Estimated Value
$749,136

Purchase Details

Listed on
May 12, 2015
Closed on
Aug 3, 2015
Sold by
Ravenswood Management Llc
Bought by
Palmer Management Llc
Seller's Agent
David Hilgart
Coldwell Banker Realty
Buyer's Agent
Allen Paul
Sheffield Group, Inc.
List Price
$365,000
Sold Price
$431,100
Premium/Discount to List
$66,100
18.11%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.94%

Purchase Details

Listed on
May 12, 2015
Closed on
Jun 4, 2015
Sold by
Mugerditchian Mark and Mugerditchian Theresa L
Bought by
Ravenswood Management Llc
Seller's Agent
David Hilgart
Coldwell Banker Realty
Buyer's Agent
Allen Paul
Sheffield Group, Inc.
List Price
$365,000
Sold Price
$431,100
Premium/Discount to List
$66,100
18.11%

Purchase Details

Closed on
Mar 23, 2009
Sold by
Lasalle Bank National Association
Bought by
Mugerditchian Mark

Purchase Details

Closed on
Oct 20, 2008
Sold by
Rivera Carmen A and Rivera Alvarez Carmen A
Bought by
Lasalle Bank Na

Purchase Details

Closed on
Jan 25, 2006
Sold by
Alvarez Hermes and Rivera Carmen A
Bought by
Alvarez Hermes and Rivera Carmen A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$495,000
Interest Rate
8.99%
Mortgage Type
Unknown

Purchase Details

Closed on
Jan 24, 2006
Sold by
Alvarez Hermes
Bought by
Alvarez Hermes and Rivera Carmen A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$495,000
Interest Rate
8.99%
Mortgage Type
Unknown

Purchase Details

Closed on
Sep 11, 2003
Sold by
Justiniano Wilfredo
Bought by
Alvarez Hermes

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$230,600
Interest Rate
8.1%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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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
Palmer Management Llc -- Attorney
Palmer Management Llc -- Attorney
Ravenswood Management Llc $431,500 Chicago Title Insurance Co
Mugerditchian Mark $160,000 First American Title
Lasalle Bank Na -- None Available
Alvarez Hermes -- Northwest Title & Escrow Cor
Alvarez Hermes -- Northwest Title & Escrow Cor
Alvarez Hermes -- Cst
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mugerditchian Mark $202,500
Previous Owner Mugerditchian Mark $210,000
Previous Owner Mugerditchian Mark $200,000
Previous Owner Alvarez Hermes $495,000
Previous Owner Alvarez Hermes $418,000
Previous Owner Alvarez Hermes $300,000
Previous Owner Alvarez Hermes $230,600
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/05/2015 06/05/15 Sold $431,100 +18.1% --
05/15/2015 05/15/15 Pending -- -- --
05/12/2015 05/12/15 For Sale $365,000 -- --
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 $5,625 $43,522 $11,292 $32,230
2023 $5,483 $26,566 $9,156 $17,410
2022 $5,483 $26,566 $9,156 $17,410
2021 $5,360 $26,566 $9,156 $17,410
2020 $5,576 $24,940 $4,425 $20,515
2019 $5,780 $28,667 $4,425 $24,242
2018 $5,663 $28,667 $4,425 $24,242
2017 $7,506 $34,869 $3,967 $30,902
2016 $6,984 $34,869 $3,967 $30,902
2015 $6,390 $34,869 $3,967 $30,902
2014 $5,210 $28,082 $3,662 $24,420
2013 $5,107 $28,082 $3,662 $24,420
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 08919153

Midwest Real Estate Data (MRED)

APN: 13-35-219-015-0000