Seller's Agent in 2022
Matthew Fritzshall
Triton Realty Group LLC
(952) 607-9570
4 in this area
19 Total Sales
6331 N Wayne Ave Chicago, IL 60660
Edgewater Neighborhood
24
Beds
15
Baths
1,500
Sq Ft
1927
Built
About This Home
As of November 2022No stone left unturned on this stunning renovation of a classic center entrance eight (8) unit apartment building. 6331-33 N. Wayne is a turnkey investment property located in the desirable Edgewater neighborhood and is essentially on-campus to Loyola University. This high-end renovation offers an incredible investment return and is priced to sell at over a 7% cap on actual rents. The building was gut renovated and completed in 2022. The building is now fully occupied with solid tenants paying over $21,000 per month in rent. These jumbo apartments cater to both the local Edgewater population and to the Loyola University student population. 6331-33 N. Wayne is comprised of seven (7) 3 bedroom 2 bathroom units, one (1) 3 bedroom 1 bathroom unit and four (4) garage spaces. All apartments feature oversized layouts with designer styled chef kitchens, bathrooms with high end finishes, master suites, abundant, private outdoor space, and modern floor plans. Unique designer touches also include built in breakfast nooks, streak free graphite appliances with beautiful Quartz counter tops and classy hardwood floors. All new electric service, plumbing, central HVAC systems, water main, flood control systems, and in-unit W/D in all units. There is a new exterior porch with large balconies offering residents a private and ample outdoor space. A new owner has the rare opportunity to acquire a stabilized multifamily asset with a nice cash-on-cash return upon acquisition.
Last Agent to Sell the Property
Triton Realty Group LLC License #471016941 Listed on: 08/08/2022
Last Buyer's Agent
Triton Realty Group LLC License #471016941 Listed on: 08/08/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $19,507
Year Built
- Built in 1927
Home Design
- Brick Exterior Construction
- Concrete Perimeter Foundation
Bedrooms and Bathrooms
- 24 Bedrooms
- 15 Bathrooms
Additional Features
- 3-Story Property
- Central Heating and Cooling System
Listing and Financial Details
- Tenant pays for air conditioning, electricity, heat, hot water
Community Details
Overview
- 8 Units
Building Details
- Electric Expense $2,400
- Insurance Expense $6,000
- Maintenance Expense $2,800
- Manager Expense $13,186
- Other Expense $6,799
- Trash Expense $2,400
- Water Sewer Expense $4,000
- Operating Expense $57,092
- Gross Income $268,872
- Net Operating Income $203,859
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/28/2022 11/28/22 | Sold | $2,765,000 | -4.7% | $1,843 / Sq Ft |
| 08/18/2022 08/18/22 | Pending | -- | -- | -- |
| 08/09/2022 08/09/22 | For Sale | $2,900,000 | -- | $1,933 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2025 | $20,255 | $160,900 | $59,700 | $101,200 |
| 2024 | $20,255 | $160,900 | $59,700 | $101,200 |
| 2023 | $19,745 | $96,000 | $48,000 | $48,000 |
| 2022 | $19,745 | $96,000 | $48,000 | $48,000 |
| 2021 | $18,099 | $96,000 | $48,000 | $48,000 |
| 2020 | $19,507 | $93,148 | $27,600 | $65,548 |
| 2019 | $20,026 | $105,850 | $27,600 | $78,250 |
| 2018 | $21,165 | $113,328 | $27,600 | $85,728 |
| 2017 | $16,149 | $81,091 | $24,000 | $57,091 |
| 2016 | $16,042 | $84,374 | $24,000 | $60,374 |
| 2015 | $14,637 | $84,374 | $24,000 | $60,374 |
| 2014 | $12,015 | $69,163 | $18,000 | $51,163 |
| 2013 | $11,759 | $69,163 | $18,000 | $51,163 |
Source: Public Records
Agents Affiliated with this Home
-
Matthew Fritzshall
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11487324
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