NOT LISTED FOR SALE

5156 N Ashland Ave Chicago, IL 60640

Ravenswood Neighborhood

Estimated Value: $1,069,000 - $1,092,061

18 Beds
6 Baths
7,404 Sq Ft
$146/Sq Ft Est. Value

Last Sold October 02, 2024

Last sale price $1,000,000 $135 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $7,432/month

7 Days on Market

About This Home

As of October 2024

First time on the market in over 50 years! Great investment opportunity awaits in the heart of the highly desired Andersonville neighborhood! This is a corner mixed-use building located on two very busy streets Foster and Ashland, with great foot traffic and close to public transportation, shops, and restaurants. The building currently has 2 office retail spaces on the 1st floor and 4 apartments on the second and third floors, and an unfinished basement. Each office has a kitchen and half bathroom and each apartment upstairs has 3 bedrooms, a kitchen, and one bathroom. There are 7 separate electric meters in the basement. The heating is gas and the gas boiler was replaced in 2020. The back staircases and porches were replaced in 2007. The roof was replaced in 2014. The law firm that's on the 1st floor will be vacating the building before closing so the building will be delivered fully empty and ready for your remodeling ideas and the opportunity to turn the two offices into apartments if you prefer to do so. Second-floor units will need more work than the 3rd floor units. Sold As Is!

Last Agent to Sell the Property

Lora Vasileva

Cedar Realty License #475179441 Listed on: 05/30/2024

Co-Listed By

David Labunski

Cedar Realty License #471012509

Last Buyer's Agent

Martin Kalachev

@properties Christie's International Real Estate License #475181730

@properties Christie's International Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $20,773

Year Built

  • Built in 1908

Lot Details

  • 3,055 Sq Ft Lot

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 3-Story Property
  • Carbon Monoxide Detectors

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 6 Bathrooms

Utilities

  • Window Unit Cooling System
  • Radiator
  • Heating System Uses Gas

Community Details

  • 6 Units

Listing and Financial Details

  • Tenant pays for electricity

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$20,773

Year Built

Built in 1908

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 3
  • Year Built: 1908
  • Built Before 1978 (Y/N): Yes
  • Information: None
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 18
  • Possible Use: Multi-Family, Retail
  • Fire Protection: Carbon Monoxide Detector(s)
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Exterior Building Type: Brick

Utilities

  • Cooling: Window Unit(s)
  • Electric: Other
  • Heat/Ventilation: Gas,Radiators

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 0.0701
  • Lot Size Sq Ft: 3055
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Multi Family

  • NumberOfUnitsTotal: 6
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 20773
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 30, 2024
Closed on
Oct 1, 2024
Sold by
Ralla Klepak Performing Arts Foundation
Bought by
Lwl Property Management Llc
Seller's Agent
Lora Vasileva
Cedar Realty
Buyer's Agent
Martin Kalachev
@properties Christie's International Real Estate
List Price
$1,100,000
Sold Price
$1,000,000
Premium/Discount to List
-$100,000
-9.09%
Views
11
Current Estimated Value
$1,080,531

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$80,531
Avg. Annual Appreciation
7.51%
Original Mortgage
$800,000
Outstanding Balance
$672,747
Interest Rate
6.75%
Mortgage Type
Credit Line Revolving
Estimated Equity
$407,784
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Lwl Property Management Llc $1,000,000 Chicago Title
Lwl Property Management Llc $1,000,000 Chicago Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lwl Property Management Llc $800,000
Closed Lwl Property Management Llc $800,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/02/2024 10/02/24 Sold $1,000,000 -9.1% $135 / Sq Ft
06/07/2024 06/07/24 Pending -- -- --
05/30/2024 05/30/24 For Sale $1,100,000 -- $149 / Sq Ft
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 $21,310 $112,729 $30,397 $82,332
2023 $20,774 $101,000 $24,440 $76,560
2022 $20,774 $101,000 $24,440 $76,560
2021 $20,310 $101,000 $24,440 $76,560
2020 $18,755 $84,189 $14,664 $69,525
2019 $19,005 $94,595 $14,664 $79,931
2018 $18,686 $94,595 $14,664 $79,931
2017 $15,803 $73,408 $12,831 $60,577
2016 $14,703 $73,408 $12,831 $60,577
2015 $13,452 $73,408 $12,831 $60,577
2014 $11,754 $63,353 $9,776 $53,577
2013 $11,522 $63,353 $9,776 $53,577
Source: Public Records

Agents Affiliated with this Home

  • Lora Vasileva

    Seller's Agent in 2024

    Lora Vasileva

    Cedar Realty

    (312) 967-4388

    1 in this area

    11 Total Sales

    Lora Vasileva
    Section Image
  • David Labunski

    Seller Co-Listing Agent in 2024

    David Labunski

    Cedar Realty

    (773) 617-7201

    1 in this area

    5 Total Sales

    David Labunski
    Section Image
  • Martin Kalachev

    Buyer's Agent in 2024

    Martin Kalachev

    @ Properties

    (773) 600-6523

    1 in this area

    80 Total Sales

    Martin Kalachev
    Section Image
  • Bella Sansak

    Buyer Co-Listing Agent in 2024

    Bella Sansak

    @ Properties

    (773) 844-3327

    1 in this area

    79 Total Sales

    Bella Sansak
    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12069945

Midwest Real Estate Data (MRED)

APN: 14-07-404-042-0000

Illinois Cook County Chicago 60640 Ravenswood

5156 N Ashland Ave, Chicago, IL

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