NOT LISTED FOR SALE
21 Beds
14 Baths
8,730 Sq Ft
1917 Built

Sale Details

Date Sold: October 16, 2023

Last sale price $2,580,000 $296 Per Sq Ft

53 Days on Market

About This Home

As of October 2023

No stone left unturned on this stunning classic center entrance. 6341-43 N. Wayne is a legal seven (7) unit apartment building in the desirable Edgewater neighborhood. This high-end renovation offers a new owner an incredible stabilized return and is priced to sell at over a 7.0% cap rate. Renovated in 2022-23, all apartments feature oversized layouts with designerstyled chef kitchens, bathrooms with high end finishes, master suites, private outdoor space, and modern floor plans. Unique designer touches also include streak free graphite applianceswith beautiful Quartz counter tops and classy hardwood floors. In addition to its cosmetic updates, ownership has added new electric service, plumbing, central HVAC systems, new watermain, flood control systems, and in-unit W/D in all units. There is also a new exterior porch with large balconies offering residents a private and ample outdoor space. Both the LoyolaUniversity student population and Edgewater residents are attracted to these apartments opening two renter pools. 6341-43 N. Wayne presents a buyer the rare opportunity to acquirestabilized asset in an excellent location providing a solid cash-on-cash return for many years to come.

Last Agent to Sell the Property

Matthew Fritzshall

Triton Realty Group LLC License #471016941 Listed on: 06/19/2023

Co-Listed By

Matthew Buckingham

Triton Realty Group LLC License #475142018

Last Buyer's Agent

Jojo Cui

Citywide Real Estate License #471020232

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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $18,500

Year Built

  • Built in 1917

Home Design

  • Brick Exterior Construction

Bedrooms and Bathrooms

  • 21 Bedrooms
  • 14 Bathrooms

Additional Features

  • 3-Story Property
  • Lot Dimensions are 50x125
  • Central Heating

Listing and Financial Details

  • Tenant pays for air conditioning, electricity, heat, hot water

Community Details

Overview

  • 7 Units

Building Details

  • Electric Expense $600
  • Fuel Expense $600
  • Insurance Expense $6,500
  • Maintenance Expense $3,500
  • Trash Expense $2,400
  • Water Sewer Expense $3,500
  • Operating Expense $53,288
  • Gross Income $247,980
  • Net Operating Income $193,465

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,500

Year Built

Built in 1917

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Flats
  • Stories: 3
  • Year Built: 1917
  • Built Before 1978 (Y/N): Yes
  • Information: Show-Call Listing Office,Show-Key in Listing Office
  • Estimated Age: New Rehab
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 14
  • Total Bedrooms: 21
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Exterior Building Type: Brick

Garage/Parking

  • Outdoor Parking: 1-5 Spaces
  • Indoor Parking: 1-5 Spaces

Utilities

  • Heat/Ventilation: Central Heat/Indiv Controls

Fee Information

  • Trash Expense: 2400
  • Water Sewer Expenses: 3500

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 50X125

Rental Info

  • Tenant Pays: Air Conditioning, Electricity, Heat, Hot Water
  • Board Number: 8

Multi Family

  • Net Operating Income: 193465
  • Fuel Expense: 600
  • Insurance Expense: 6500
  • ElectricExpense: 600
  • GrossIncome: 247980
  • Maintenance Expense: 3500
  • NumberOfUnitsTotal: 7
  • OperatingExpense: 53288
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 18500
  • 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
Jan 15, 2025
Sold by
Bought by

Purchase Details

Listed on
Jun 19, 2023
Closed on
Oct 16, 2023
Sold by
Bought by
Seller's Agent
Matthew Fritzshall
Triton Realty Group LLC
Buyer's Agent
Jojo Cui
Citywide Real Estate
List Price
$2,698,000
Sold Price
$2,580,000
Premium/Discount to List
-$118,000
-4.37%
Views
107

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,710,000
Interest Rate
7.12%
Mortgage Type
FHA

Purchase Details

Closed on
Jul 9, 2021
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
$1,652,000
Interest Rate
2.9%
Mortgage Type
Construction

Purchase Details

Closed on
Sep 22, 2010
Sold by
Bought by

Purchase Details

Closed on
Aug 4, 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
$600,000
Interest Rate
6.5%
Mortgage Type
Commercial
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Edgewater, IL

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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
$2,580,000 Chicago Title
$1,210,000 Chicago Title Insurance Co
$935,000 Cti
-- Cti
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 $1,710,000
Previous Owner $1,652,000
Previous Owner $600,000
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
10/16/2023 10/16/23 Sold $2,580,000 -2.6% $296 / Sq Ft
08/12/2023 08/12/23 Pending -- -- --
07/07/2023 07/07/23 Price Changed $2,648,000 -1.9% $303 / Sq Ft
06/19/2023 06/19/23 For Sale $2,698,000 -- $309 / 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 $23,005 $144,400 $59,700 $84,700
2024 $23,005 $144,400 $59,700 $84,700
2023 $18,923 $109,032 $24,000 $85,032
2022 $18,923 $92,000 $48,000 $44,000
2021 $18,500 $92,000 $48,000 $44,000
2020 $20,505 $92,047 $27,600 $64,447
2019 $21,015 $104,599 $27,600 $76,999
2018 $20,662 $104,599 $27,600 $76,999
2017 $16,799 $78,039 $24,000 $54,039
2016 $15,630 $78,039 $24,000 $54,039
2015 $14,300 $78,039 $24,000 $54,039
2014 $14,262 $76,866 $18,000 $58,866
2013 $13,980 $76,866 $18,000 $58,866
Source: Public Records

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11811805

Midwest Real Estate Data (MRED)

APN: 14051050030000

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