NOT LISTED FOR SALE

5407 S Drexel Ave Chicago, IL 60615

Hyde Park Neighborhood
14 Beds
8 Baths
1,200 Sq Ft
1920 Built

Sale Details

Date Sold: July 23, 2024

Last sale price $1,450,000 $1,208 Per Sq Ft

1 Day on Market

Highlights

  • Heating System Uses Steam
  • Walk-Up Access
  • 2-minute walk to Coleman (Bessie) Park
  • Kenwood Academy High School Rated A-

About This Home

As of July 2024

ALL BRICK SOLID MULTI UNITS IN THE HEART OF HYDEPARK. TOTAL 8 UNITS. MAKE IT YOUR SOLID & GREAT INVESTMENT OPPORTUNITY FOR LONG TERM INVESTMENT IN THE UNIVERSITY OF CHICAGO AREA. FEATURES TOTAL OF 6 OF THE 2 BEDROOMS, 1 FULL BATH UNIT WITH 1300SF/UNIT. 2 OF THE GARDEN 1 BEDROOM 1 BATH UNIT. ORGINAL HARDWOOD FLOORS, STAINLESS STEEL APPLIANCES (MOST OF THEM NEWER), IN UNIT WASHER & DRYER AND PUBLIC WASHWER & DRYER AS WELL. IN UNIT LAUNDRY & COMMON SHARE LAUNDRY UNIT IN THE BASEMENT. 1 WATER HEATING SYSTEM & HOT WATER SUPPLIES TO ALL UNITS, TENANT PAYS FOR COOKING GAS AND ELETRIC. WINDOW AIR CONDITIONING, BRAND NEW TEAR OFF FLAT ROOF IN 2021, 8 PARKING SPACES & FENCE COMPLETED IN 2022, MOST OF APPLIANCES ARE STAINLESS STEEL. GOOD AND STABLE TENANTS. RENT BELOW MARKET. ALL UNITS CURRENT ON LEASE EXPIRES IN THE SUMMER TIME, FULLY RENTED ONLY 1 UNIT VACANT FOR SHOWING. WALKING DISTANCE TO University of Chicago Hospital and School. PREAPPROVED INVESTOR ONLY. This opportunity won't last long.

Last Agent to Sell the Property

Tanni Wong

Lakeside Properties Group, LLC License #471001865 Listed on: 03/31/2024

Last Buyer's Agent

Michael Walton

Century 21 Advisors License #07610010207

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,000

Year Built

  • Built in 1920

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction
  • Tar and Gravel Roof
  • Concrete Perimeter Foundation

Bedrooms and Bathrooms

  • 14 Bedrooms
  • 8 Bathrooms

Finished Basement

  • Walk-Up Access
  • Basement Window Egress

Utilities

  • No Cooling
  • Radiator
  • Heating System Uses Steam
  • Heating System Uses Gas

Additional Features

  • 3-Story Property
  • Lot Dimensions are 50' x 100'

Listing and Financial Details

  • Tenant pays for air conditioning, electricity

Community Details

Overview

  • 8 Units

Building Details

  • Electric Expense $800
  • Fuel Expense $8,000
  • Insurance Expense $900
  • Trash Expense $1,200
  • Water Sewer Expense $4,800
  • Operating Expense $7,000
  • Gross Income $125,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,000

Year Built

Built in 1920

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Flats
  • Stories: 3
  • Year Built: 1920
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required,List Broker Must Accompany
  • Estimated Age: Older
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 8
  • Total Bedrooms: 14
  • Basement Description: Finished,Egress Window,Walk-Up Access
  • Fireplaces: 1
  • Dishwashers: 4
  • Refrigerators: 8
  • Ranges: 8
  • Number of Washers: 1
  • Room: 0

Exterior Features

  • Construction Materials: Brick, Block
  • Foundation Details: Concrete Perimeter
  • Roof: Tar and Gravel
  • Exterior Building Type: Brick
  • Roof Structure: Flat

Utilities

  • Cooling: None
  • Heat/Ventilation: Gas,Radiators,Steam
  • Leased Washer Dryer YN: No

Condo/Co-op/Association

  • Unincorporated (Y/N): No

Fee Information

  • Trash Expense: 1200
  • Water Sewer Expenses: 4800

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 50' X 100'
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Air Conditioning, Electricity
  • Board Number: 8
  • Tenancy Type: Leases

Building Info

  • Building Unit Info: Smoke/Alarm Detector

Multi Family

  • Fuel Expense: 8000
  • Insurance Expense: 900
  • ElectricExpense: 800
  • GrossIncome: 125400
  • NumberOfUnitsTotal: 8
  • OperatingExpense: 7000
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 15000
  • Tax Year: 2022

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
May 1, 2024
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,700,000
Interest Rate
0.0695%
Mortgage Type
Construction

Purchase Details

Closed on
Dec 4, 2013
Sold by
Bought by

Purchase Details

Closed on
Jul 11, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$837,000
Interest Rate
0.0662%
Mortgage Type
Commercial
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,450,000 Chicago Title
$1,175,000 Multiple
$890,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Closed $1,700,000
Closed $837,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
07/23/2024 07/23/24 Sold $1,450,000 0.0% $1,208 / Sq Ft
04/02/2024 04/02/24 Pending -- -- --
03/31/2024 03/31/24 For Sale $1,450,000 -- $1,208 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2025 $14,467 $98,000 $32,240 $65,760
2024 $14,467 $98,000 $32,240 $65,760
2023 $14,053 $68,324 $7,800 $60,524
2022 $14,053 $68,324 $7,800 $60,524
2021 $13,739 $68,323 $7,800 $60,523
2020 $13,332 $59,846 $7,800 $52,046
2019 $12,024 $59,846 $7,800 $52,046
2018 $11,822 $59,846 $7,800 $52,046
2017 $12,445 $57,809 $6,240 $51,569
2016 $11,578 $57,809 $6,240 $51,569
2015 $10,593 $57,809 $6,240 $51,569
2014 $8,758 $47,201 $3,900 $43,301
2013 $8,585 $47,201 $3,900 $43,301
Source: Public Records

Agents Affiliated with this Home

  • Tanni Wong

    Seller's Agent in 2024

    Tanni Wong

    Lakeside Properties Group, LLC

    (312) 388-1792

    1 in this area

    39 Total Sales

    Tanni Wong
    Section Image

  • M

    Buyer's Agent in 2024

    Michael Walton

    Century 21 Advisors

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11999188

Midwest Real Estate Data (MRED)
Illinois Cook County Chicago 60615 Hyde Park

5407 S Drexel Ave, Chicago, IL

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Midwest Real Estate Data (MRED) All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID

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