NOT LISTED FOR SALE

3502 W Palmer St Chicago, IL 60647

Logan Square Neighborhood
7 Beds
3 Baths
1,584 Sq Ft
3,049 Sq Ft Lot

Last Sold November 05, 2021

Last sale price $570,000 $360 Per Sq Ft

18 Days on Market

Highlights

  • Deck
  • 2 Car Detached Garage
  • Stamped Concrete Patio
  • Balcony
  • Porch
  • Forced Air Heating System

About This Home

As of November 2021

Beautifully maintained and updated 2 Flat with finished attic and 2 car garage in HOT Logan Square. Building features newer roof on main house and garage, newer windows and exterior doors, newer siding, newer cement walkways, gas forced heat, central air and sump pump/exterior drainage system. 1st floor unit has separate entrance, 3 beds, 1 updated bath, living room, dining room, eat in kitchen w/stainless appliances, private laundry room and access to patio and fenced in yard. 2nd floor owners unit has central AC, 10' ceilings, hardwood floors throughout, 3 beds (WIC in primary bedroom), 1 updated bath, eat in stainless steel kitchen with island, private laundry room and private deck. Finished attic is a great in-law suite with gas heat, 1 bedroom, living room, large kitchen and two additional rooms. Each apartment has separate utilities and there are no common spaces so annual operating expenses are minimal. This turn-key property is a MONEY MAKER! Est Cap Rate of 7.17% and COC of 11.94%. The property is in the ADU zone for Logan Square so new owner can apply for attic to be an ADU.

Last Agent to Sell the Property

Jill Reninger

Compass License #475179594 Listed on: 09/15/2021

Compass

Last Buyer's Agent

Keith Brand

Berkshire Hathaway HomeServices Chicago License #475171462

Berkshire Hathaway HomeServices Chicago

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,486

Year Built

  • Built in 1890

Lot Details

  • 3,049 Sq Ft Lot
  • Lot Dimensions are 25 x 125

Parking

  • 2 Car Detached Garage
  • Garage Door Opener
  • Parking Included in Price

Home Design

  • Asphalt Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • Ceiling Fan
  • Sump Pump
  • Storm Screens

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 7 Potential Bedrooms
  • 3 Bathrooms

Outdoor Features

  • Balcony
  • Deck
  • Stamped Concrete Patio
  • Porch

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Multiple Water Heaters

Listing and Financial Details

  • Homeowner Tax Exemptions

Community Details

Overview

  • 3 Units

Building Details

  • Gross Income $53,400
  • Net Operating Income $40,487

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,486

Year Built

Built in 1890

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1890
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: None
  • Total Bathrooms: 3
  • Total Bedrooms: 7
  • Other Equipment: Ceiling Fan(s), Sump Pump, Multiple Water Heaters
  • Basement Description: None
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 3
  • Half Bathrooms in Building: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Microwave,Window Air Conditioner
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Microwave,Central Air Conditioner,Hardwood Floors,Walk-In Closet
  • MRD_AppliancesAndFeatures: Hardwood Floors,Skylights/Windows

Exterior Features

  • ExteriorFeatures: Balcony, Deck, Patio, Porch, Stamped Concrete Patio, Storms/Screens
  • Foundation Details: Concrete Perimeter
  • List Price: 574900
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding,Frame

Garage/Parking

  • Garage Spaces: 2
  • ParkingTotal: 2
  • Garage Details: Garage Door Opener(s)
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas, Forced Air
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks, Street Lights
  • Conversion YN: N

Schools

  • Middle/Junior School District: 299

Lot Info

  • Lot Size Acres: 0.07
  • Lot Dimensions: 25 X 125
  • Zoning: MULTI
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 8
  • Is Parking Included in Price: Yes

Multi Family

  • Net Operating Income: 40487
  • GrossIncome: 53400
  • Units in Building: 3
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 2 Flat

Tax Info

  • Tax Annual Amount: 4486.41
  • Tax Year: 2020
  • Tax Exemptions: Homeowner

Range of Values:

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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 Change Sq Ft Price
11/05/2021 11/05/21 Sold $570,000 -0.9% $360 / Sq Ft
10/04/2021 10/04/21 Pending -- -- --
09/15/2021 09/15/21 For Sale $574,900 -- $363 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jill Reninger

    Seller's Agent in 2021

    Jill Reninger

    Compass

    (312) 350-1030

    1 in this area

    32 Total Sales

    Jill Reninger
    Section Image
  • Keith Brand

    Buyer's Agent in 2021

    Keith Brand

    Berkshire Hathaway HomeServices Chicago

    (847) 529-1405

    26 in this area

    341 Total Sales

    Keith Brand
    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11219716

Midwest Real Estate Data (MRED)

APN: 13352130260000

Illinois Cook County Chicago 60647 Logan Square

3502 W Palmer St, Chicago, IL

This home is located at 3502 W Palmer St, Chicago, IL 60647 since 15 September 2021. This property was built in 1890. 3502 W Palmer St is a home located in Cook County with nearby schools including Mozart Elementary School, Kelvyn Park High School, and Good Shepherd Christian Academy.

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