NOT LISTED FOR SALE

5000 W Monroe St Chicago, IL 60644

Austin Neighborhood
36 Beds
15 Baths
-- Sq Ft
9,583 Sq Ft Lot

Last Sold June 23, 2021

Last sale price $1,020,000

64 Days on Market

About This Home

As of June 2021

Pleased to exclusively offer for purchase 5000 W. Monroe, a fifteen (15) unit walk-up located in Chicago's historic Austin neighborhood. The property sits just one block away from Madison St. and Cicero Ave, which both feature an abundance of public transit and retail options. 5000 W. Monroe has an incredibly desirable unit mix which is comprised of nine (9) 2bd/1ba units and six (6) 3bd/1ba, exceptionally spacious units. Furthermore, all of the units feature updated kitchens and baths, and original hardwood flooring throughout. Recent capital improvements to the building consist of, but not limited to: new tuckpointing (2017), new windows, newer individual furnaces, newer hot water heaters (2013 & 2017), new electrical with in-unit breaker boxes, as well as, updated copper plumbing as needed. 5000 W. Monroe provides an investor with the unique opportunity to acquire a true turn key asset. From day one, its next owner will realize an in place cap rate of 8.03% and a cash return of nearly 15%. Furthermore, through improved leasing, management and bringing current rents to market rate levels, an owner could realize a cap rate of 9.21% and a cash-on-cash return of 19.64%.

Last Agent to Sell the Property

Jack Petrando

Kiser Group Realty Inc License #475185949 Listed on: 01/14/2021

Co-Listed By

Noah Birk

Kiser Group Realty Inc License #475125864

Last Buyer's Agent

Martina Krstic

MK Home LLC License #471020254

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,899

Year Built

  • Built in 1916

Lot Details

  • 9,583 Sq Ft Lot
  • Lot Dimensions are 78' x 126'

Home Design

  • Garden Apartment

Bedrooms and Bathrooms

  • 36 Bedrooms
  • 15 Bathrooms

Additional Features

  • 3-Story Property
  • Central Heating

Listing and Financial Details

  • Tenant pays for electricity, heat

Community Details

Overview

  • 15 Units

Building Details

  • Electric Expense $2,577
  • Fuel Expense $5,095
  • Insurance Expense $6,071
  • Maintenance Expense $4,875
  • Manager Expense $7,959
  • Other Expense $2,500
  • Trash Expense $4,761
  • Water Sewer Expense $11,685
  • Operating Expense $62,922
  • Gross Income $167,568
  • Net Operating Income $96,342

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,899

Year Built

Built in 1916

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Garden Complex
  • Stories: 3
  • Year Built: 1916
  • 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: 15
  • Total Bedrooms: 36
  • Room: 0

Utilities

  • Heat/Ventilation: Central Heat/Indiv Controls

Condo/Co-op/Association

  • Manager Expense: 7959

Fee Information

  • Trash Expense: 4761
  • Water Sewer Expenses: 11685

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.22
  • Lot Dimensions: 78' X 126'

Rental Info

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

Multi Family

  • Net Operating Income: 96342
  • Fuel Expense: 5095
  • Insurance Expense: 6071
  • ElectricExpense: 2577
  • GrossIncome: 167568
  • Maintenance Expense: 4875
  • NumberOfUnitsTotal: 15
  • OperatingExpense: 62922
  • Type Multi-Family: Garden Complex

Tax Info

  • Tax Annual Amount: 14899
  • Tax Year: 2019

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

Property History

Date Event Price List to Sale Price per Sq Ft
06/23/2021 06/23/21 Sold $1,020,000 -15.0% --
03/19/2021 03/19/21 Pending -- -- --
01/14/2021 01/14/21 For Sale $1,200,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2021

    Jack Petrando

    Kiser Group Realty Inc

    Section Image

  • N

    Seller Co-Listing Agent in 2021

    Noah Birk

    Kiser Group Realty Inc

    Section Image
  • Martina Krstic

    Buyer's Agent in 2021

    Martina Krstic

    MK Home LLC

    (312) 508-0508

    1 in this area

    50 Total Sales

    Martina Krstic
    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 10971906

Midwest Real Estate Data (MRED)

APN: 16162010410000

Illinois Cook County Chicago 60644 Austin

5000 W Monroe St, Chicago, IL

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