NOT LISTED FOR SALE

5810 W 87th St Burbank, IL 60459

Burbank Area
20 Beds
12 Baths
-- Sq Ft
1973 Built

Sale Details

Date Sold: December 27, 2023

Last sale price $1,340,000

25 Days on Market

About This Home

As of December 2023

This meticulously maintained 12-unit apartment building epitomizes the essence of a lucrative investment opportunity. Its present success, while impressive, barely scratches the surface of its true potential. The commitment to excellence is evident in every facet of this property, making it a standout option for discerning investors. The building's robust income stream is merely a glimpse of what could be achieved with strategic management. Despite its already impressive financial performance, there exists ample room for growth, positioning this asset as an attractive proposition for those looking to maximize their returns. One of the hallmarks of this property is its recent upgrades, which testify to its commitment to modernity and longevity. The newer windows not only enhance aesthetic appeal but also contribute to energy efficiency, creating a more sustainable and cost-effective living environment for tenants. The resealed roof serves as a testament to the owner's dedication to preserving the building's structural integrity, ensuring its durability for years to come. The commitment to providing a top-tier living experience extends to the practical aspects as well. The parking area, thoughtfully redone in 2022, ensures convenience and safety for residents and their vehicles. The inclusion of a newer furnace and hot water heater, both of which are high-efficiency models installed in 2020, attests to the property's readiness to meet modern energy standards while keeping operating costs in check. Furthermore, the strategic location of this building adds another layer of desirability. Situated near shopping centers and expressways, tenants enjoy unparalleled convenience, making it an ideal place to call home. The proximity to key amenities not only enhances the overall tenant experience but also contributes to tenant retention and demand, ultimately bolstering the property's income potential. In summary, this well-maintained 12-unit apartment building is a remarkable investment opportunity. Its strong income, potential for growth, recent upgrades, efficient systems, and prime location coalesce to create an attractive package that any savvy investor would be wise to consider. This property stands as a testament to the art of real estate investment and management, offering both immediate rewards and a promising future.

Last Agent to Sell the Property

Marek Wyszomirski

Infiniti Properties, Inc. License #471003397 Listed on: 10/19/2023

Infiniti Properties, Inc.

Last Buyer's Agent

Marek Wyszomirski

Infiniti Properties, Inc. License #471003397 Listed on: 10/19/2023

Infiniti Properties, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $22,364

Year Built

  • Built in 1973

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 3-Story Property
  • Fire Suppression System

Bedrooms and Bathrooms

  • 20 Bedrooms
  • 12 Bathrooms

Lot Details

  • Lot Dimensions are 148x125

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Window Unit Cooling System
  • Central Heating
  • Radiator

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 12 Units

Building Details

  • Electric Expense $1,800
  • Fuel Expense $6,000
  • Insurance Expense $5,088
  • Maintenance Expense $2,500
  • Other Expense $960
  • Trash Expense $3,900
  • Water Sewer Expense $4,200
  • Operating Expense $25,448
  • Gross Income $144,000
  • Net Operating Income $118,552

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$22,364

Year Built

Built in 1973

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 3
  • Year Built: 1973
  • Built Before 1978 (Y/N): Yes
  • Information: 48-Hr Notice Required,Highly Confidential
  • Estimated Age: 36-50 Years
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 12
  • Total Bedrooms: 20
  • Fire Protection: Fire Extinguisher/s
  • Fireplaces: 2
  • Refrigerators: 12
  • Ranges: 12
  • Number of Washers: 2
  • Room: 0

Exterior Features

  • Construction Materials: Brick

Utilities

  • Cooling: Wall Sleeve, Window Unit(s)
  • Heat/Ventilation: Central Bldg Heat,Radiators
  • Leased Washer Dryer YN: No

Fee Information

  • Trash Expense: 3900
  • Water Sewer Expenses: 4200

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 148X125

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 10

Multi Family

  • Net Operating Income: 118552
  • Fuel Expense: 6000
  • Insurance Expense: 5088
  • ElectricExpense: 1800
  • GrossIncome: 144000
  • Maintenance Expense: 2500
  • NumberOfUnitsTotal: 12
  • OperatingExpense: 25448
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 22364.1
  • Tax Year: 2021

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
Sep 25, 2024
Sold by
Bought by

Purchase Details

Listed on
Oct 19, 2023
Closed on
Dec 27, 2023
Sold by
Bought by
Seller's Agent
Marek Wyszomirski
Infiniti Properties, Inc.
Buyer's Agent
Marek Wyszomirski
Infiniti Properties, Inc.
List Price
$1,429,000
Sold Price
$1,340,000
Premium/Discount to List
-$89,000
-6.23%
Views
1913

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,050,000
Interest Rate
0.0726%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 28, 2008
Sold by
Bought by

Purchase Details

Closed on
Jun 13, 2003
Sold by
Bought by

Purchase Details

Closed on
Nov 15, 2002
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
$539,000
Interest Rate
0.0625%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 21, 2002
Bought by

Purchase Details

Closed on
Mar 4, 1999
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
$450,000
Interest Rate
0.0793%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 15, 1996
Sold by
Bought by

Purchase Details

Closed on
Mar 1, 1996
Sold by
Bought by

Purchase Details

Closed on
Sep 30, 1993
Sold by
Bought by
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
-- None Listed On Document
$1,340,000 Fidelity National Title
-- None Available
-- --
$718,500 --
$685,000 --
-- --
-- --
$460,000 Attorneys Natl Title Network
-- --
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
Previous Owner $1,050,000
Previous Owner $539,000
Previous Owner $450,000
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
12/27/2023 12/27/23 Sold $1,340,000 -6.2% --
11/14/2023 11/14/23 Pending -- -- --
10/19/2023 10/19/23 For Sale $1,429,000 -- --
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 $32,281 $104,037 $20,392 $83,645
2024 $32,281 $104,037 $20,392 $83,645
2023 $23,372 $104,037 $20,392 $83,645
2022 $23,372 $60,608 $20,392 $40,216
2021 $22,364 $60,607 $20,391 $40,216
2020 $21,576 $60,607 $20,391 $40,216
2019 $19,408 $54,169 $16,684 $37,485
2018 $18,855 $54,169 $16,684 $37,485
2017 $18,231 $54,169 $16,684 $37,485
2016 $18,613 $52,827 $15,757 $37,070
2015 $26,869 $79,207 $15,757 $63,450
2014 $26,061 $79,207 $15,757 $63,450
2013 $23,810 $79,207 $15,757 $63,450
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11912575

Midwest Real Estate Data (MRED)
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