NOT LISTED FOR SALE

50 W Belmont Ave Franklin Park, IL 60131

20 Beds
12 Baths
4,600 Sq Ft
0.26 Acres

Last Sold August 31, 2023

Last sale price $1,760,000 $383 Per Sq Ft

19 Days on Market

Highlights

  • 0.26 Acre Lot
  • North Elementary School Rated 9+
  • Baseboard Heating

About This Home

As of August 2023

7344 & 7350 W Belmont, twin buildings consisting of 6 units each (12 total) just west of Belmont & Harlem Ave in premier Dunning neighborhood. 7344 was rehabbed this year with modern appliances in the kitchens and bathrooms, new flooring, carpeting, and freshly painted. 7344 also includes two new furnaces and hot water tank. Roofs on both buildings were replaced within the last year. 7350 is fully rented with long-term tenants on outdated leases, potential immediate income increases. Original design features and identical layout. Coin laundry in both buildings with 5 parking spots each (10 total). Owner pays Gas in both buildings. Gross Income is projected as 7344 is currently vacant. Two separate pins (12244280360000 & 12244280350000). Offering Memo uploaded under "Additional Documents". 3D Tour and Drone video also included. Note: Both buildings must be sold together.

Last Agent to Sell the Property

Giancarlo Iannotta

MO2 Brokerage LLC License #475195344 Listed on: 06/08/2023

MO2 Brokerage LLC

Last Buyer's Agent

Artur Tobolski

Chicagoland Brokers Inc. License #475174013

Chicagoland Brokers Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $27,366

Year Built

  • Built in 1960

Lot Details

  • 0.26 Acre Lot
  • Lot Dimensions are 100 x 115
  • Additional Parcels

Parking

  • 6 to 12 Parking Spaces

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 4,600 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 12 Bathrooms

Utilities

  • Window Unit Cooling System
  • Baseboard Heating
  • Hot Water Heating System
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 12 Units

Building Details

  • Electric Expense $2,000
  • Fuel Expense $6,500
  • Insurance Expense $9,000
  • Maintenance Expense $1,200
  • Other Expense $720
  • Trash Expense $2,100
  • Water Sewer Expense $3,900
  • Operating Expense $54,226
  • Gross Income $173,760
  • Net Operating Income $119,534

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$27,366

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Flats
  • Stories: 3
  • Year Built: 1960
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 12
  • Total Bedrooms: 20
  • Fireplaces: 2
  • Refrigerators: 12
  • Number of Windows: 12
  • Number of Washers: 2
  • Room: 3
  • Room: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Foundation Details: Concrete Perimeter
  • List Price: 1774500
  • Roof: Composition
  • Exterior Building Type: Brick
  • Roof Structure: Hip

Garage/Parking

  • Outdoor Parking: 6-12 Spaces

Utilities

  • Cooling: Window Unit(s)
  • Heat/Ventilation: Gas,Hot Water,Baseboard

Condo/Co-op/Association

  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 2100
  • Water Sewer Expenses: 3900
  • Janitor Expense: 1440

Lot Info

  • Additional Parcels: Yes
  • Lot Size Acres: 0.26
  • Lot Dimensions: 100 X 115
  • Lot Size Sq Ft: 10000

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Building Info

  • BuildingAreaTotal: 4600

Multi Family

  • Net Operating Income: 119534
  • Fuel Expense: 6500
  • Insurance Expense: 9000
  • ElectricExpense: 2000
  • GrossIncome: 173760
  • Maintenance Expense: 1200
  • NumberOfUnitsTotal: 12
  • OperatingExpense: 54226
  • Expense Year: 2022
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 27366
  • Tax Year: 2021

Range of Values:

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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

Property History

Date Event Price Change Sq Ft Price
08/31/2023 08/31/23 Sold $1,760,000 -0.8% $383 / Sq Ft
06/28/2023 06/28/23 Pending -- -- --
06/08/2023 06/08/23 For Sale $1,774,500 -- $386 / Sq Ft
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: 11802911

Midwest Real Estate Data (MRED)