501 W 60th Place Chicago, IL 60621
Englewood NeighborhoodEstimated payment $2,108/month
About This Home
Cash buyer is necessary on this investment. Huge price reduction. Come in an make this the investment of the year. This is a money maker. All units rented. Gross income 82200. Expenses 42541. Final income $39,659. Yes, large cash on cash return. Great opportunity to buy $650,000 investment for $300,000. Five huge 3 bedroom, 2 bath updated condo units with in-unit laundry. 9 units in the association. Association dues are 202/ month. Tenants pay heat and electric. Association has all other expenses. All units have central Air Conditioning. Newer furnaces and AC units. Great condition. Each unit has deeded parking space. There are 5 deeded parking spaces with the units. Plenty of street parking as this is a corner building. 5 minutes to Interstate 94 to downtown. Open spacious land around for future development. Great little money maker. Owner needs to sell fast. He has priced this investment accordingly. Call listing agent for showings.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,066
Year Built
- Built in 1928
Lot Details
- Lot Dimensions are 100x125
- Corner Lot
- Additional Parcels
Parking
- 13 to 18 Parking Spaces
Interior Spaces
- 3-Story Property
- Fire and Smoke Detector
Utilities
- Forced Air Heating and Cooling System
- Floor Furnace
- Heating System Uses Gas
- Separate Meters
Community Details
Overview
- Association fees include water, insurance, exterior maintenance, lawn care, scavenger, snow removal
- 5 Units
Building Details
- Insurance Expense $10,555
- Maintenance Expense $5,000
- Other Expense $19,920
- Operating Expense $42,541
- Gross Income $82,200
- Net Operating Income $44,458
Map
Home Values in the Area
Average Home Value in this Area
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 | $1,160 | $6,899 | $259 | $6,640 |
| 2023 | $1,131 | $5,500 | $561 | $4,939 |
| 2022 | $1,131 | $5,500 | $561 | $4,939 |
| 2021 | $436 | $5,499 | $561 | $4,938 |
| 2020 | $347 | $4,662 | $561 | $4,101 |
| 2019 | $358 | $5,211 | $561 | $4,650 |
| 2018 | $351 | $5,211 | $561 | $4,650 |
| 2017 | $318 | $4,854 | $518 | $4,336 |
| 2016 | $472 | $4,854 | $518 | $4,336 |
| 2015 | $409 | $4,854 | $518 | $4,336 |
| 2014 | $810 | $6,935 | $474 | $6,461 |
| 2013 | $783 | $6,935 | $474 | $6,461 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/11/2025 09/11/25 | Price Changed | $285,000 | -5.0% | -- |
| 08/30/2025 08/30/25 | Price Changed | $299,900 | -14.3% | -- |
| 08/28/2025 08/28/25 | Price Changed | $349,900 | 0.0% | -- |
| 08/28/2025 08/28/25 | For Sale | $349,900 | -6.7% | -- |
| 08/22/2025 08/22/25 | Pending | -- | -- | -- |
| 08/06/2025 08/06/25 | Price Changed | $375,000 | -6.0% | -- |
| 07/11/2025 07/11/25 | Price Changed | $399,000 | -6.1% | -- |
| 06/10/2025 06/10/25 | Price Changed | $425,000 | +6.3% | -- |
| 06/06/2025 06/06/25 | For Sale | $400,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | $25,000 | None Listed On Document | |
| Quit Claim Deed | $26,000 | Attorney | |
| Warranty Deed | $27,500 | Fidelity National Title | |
| Deed | $164,500 | Multiple |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $185,536 | Unknown | |
| Previous Owner | $32,800 | Stand Alone Second | |
| Previous Owner | $131,500 | Adjustable Rate Mortgage/ARM |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12386860
APN: 20-16-313-039-1002
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