A
Seller's Agent in 2022
Aaron Sklar
Kiser Group Realty Inc
6348 S Artesian Ave Chicago, IL 60629
Marquette Park Neighborhood
9
Beds
6
Baths
6,720
Sq Ft
3,485
Sq Ft Lot
About This Home
As of April 20226348 S. Artesian is a charming six (6) unit, center-entranced walkup located in the Chicago Lawn neighborhood of Chicago's south side. Maintaining its vintage charm, the building is ideally situated on a quiet, tree lined street just north east for the neighborhoods Marquette Park. Conveniently, the property sits just two (2) blocks west of Western Avenue which provides an abundance of retail and grocery options. 6348 S. Artesian has its original configuration consisting of both one and two bedroom apartment units. The building is currently comprised of three (3) 2b/1ba units and three (3) 1b/1ba units. All of which, however, feature incredibly large sparate living and separate dining rooms, and still maintains much of the buildings original crown molding. In addition to the buildings strong tenant base, recent improvements to the building consist of, but not limited to: an updated and modern Peerless Boiler, an updated and newer (2019) hot water storage and heating tank, updated windows, as well as a flat rubber roof. The building features an enclosed porch along with a laundry facility in the lower level of the building. Although currently not being capitalized, the building also features a two car brick-garage in the rear that is currently being used as additional storage. 6348 S. Artesian provides an investor the opportunity to acquire a cash-flowing asset with an in incredibly low cost basis. In its current state with its long term tenants, the building performs at an 8% cap rate. However, solely through improved leasing and management and bringing rents up to market rate levels, there is an opportunity for an investor to realize a cap rate far north of 10% and cash-on-cash return exceeding industry standards, as well.
Last Agent to Sell the Property
Aaron Sklar
Kiser Group Realty Inc License #475161507 Listed on: 10/27/2021
Co-Listed By
Noah Birk
Kiser Group Realty Inc License #475125864
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,238
Year Built
- Built in 1929
Lot Details
- 3,485 Sq Ft Lot
- Lot Dimensions are 25x125
Interior Spaces
- 3-Story Property
Bedrooms and Bathrooms
- 9 Bedrooms
- 6 Bathrooms
Utilities
- Central Heating
- Radiator
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 6 Units
Building Details
- Electric Expense $900
- Fuel Expense $8,500
- Insurance Expense $3,725
- Maintenance Expense $2,000
- Manager Expense $2,778
- Other Expense $1,000
- Trash Expense $1,194
- Water Sewer Expense $3,700
- Operating Expense $27,562
- Gross Income $58,500
- Net Operating Income $28,013
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/14/2022 04/14/22 | Sold | $330,000 | -5.7% | $49 / Sq Ft | |
| 01/20/2022 01/20/22 | Pending | -- | -- | -- | |
| 10/27/2021 10/27/21 | For Sale | $350,000 | +105.9% | $52 / Sq Ft | |
| 09/29/2017 09/29/17 | Sold | $170,000 | +0.3% | -- | View Prior Sale |
| 08/05/2017 08/05/17 | Pending | -- | -- | -- | |
| 08/02/2017 08/02/17 | For Sale | $169,500 | 0.0% | -- | |
| 07/27/2017 07/27/17 | Pending | -- | -- | -- | |
| 07/22/2017 07/22/17 | For Sale | $169,500 | -- | -- |
Source: Midwest Real Estate Data (MRED)
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 | $4,455 | $32,000 | $1,875 | $30,125 |
| 2024 | $4,455 | $32,000 | $1,875 | $30,125 |
| 2023 | $4,344 | $21,000 | $3,000 | $18,000 |
| 2022 | $4,344 | $21,000 | $3,000 | $18,000 |
| 2021 | $4,223 | $21,000 | $3,000 | $18,000 |
| 2020 | $3,238 | $14,441 | $3,000 | $11,441 |
| 2019 | $3,395 | $16,792 | $3,000 | $13,792 |
| 2018 | $3,339 | $16,792 | $3,000 | $13,792 |
| 2017 | $5,694 | $26,279 | $2,625 | $23,654 |
| 2016 | $5,298 | $26,279 | $2,625 | $23,654 |
| 2015 | $5,271 | $28,559 | $2,625 | $25,934 |
| 2014 | $4,979 | $26,629 | $2,437 | $24,192 |
| 2013 | $4,882 | $26,629 | $2,437 | $24,192 |
Source: Public Records
Agents Affiliated with this Home
-
-
N
Seller Co-Listing Agent in 2022
Noah Birk
Kiser Group Realty Inc
-
David Johnson
Buyer's Agent in 2022
David Johnson
Kale Realty
(773) 979-7107
1 in this area
31 Total Sales
-
L
Seller's Agent in 2017
Lawrence Dolan
New Home Star of Chicago, LLC
-
Marcin Kania
M
Buyer's Agent in 2017
Marcin Kania
Exterplexy Real Estate and Management
(773) 420-8570
1 in this area
7 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11256984
APN: 19242060320000
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.
Based on information submitted to the MLS GRID. 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.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked.
Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
The DMCA requires that your notice of alleged copyright infringement include the following information:
(1) description of the copyrighted work that is the subject of claimed infringement;
(2) description of the alleged infringing content and information sufficient to permit us to locate the content;
(3) contact information for you, including your address, telephone number and email address;
(4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law;
(5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and
(6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
Nearby Homes
- 6402 S Claremont Ave
- 6458 S Claremont Ave
- 6355 S Oakley Ave
- 6221 S Campbell Ave
- 6550 S Claremont Ave
- 6221 S Talman Ave
- 6445 S Washtenaw Ave
- 6607 S Oakley Ave
- 6424 S Washtenaw Ave
- 6608 S Bell Ave
- 6101 S Maplewood Ave
- 6543 S Washtenaw Ave
- 6525 S Fairfield Ave
- 6423 S Hoyne Ave
- 6715 S Claremont Ave
- 6545 S Hamilton Ave
- 6441 S Hoyne Ave
- 6722 S Oakley Ave
- 6049 S Talman Ave
- 6716 S Bell Ave
- 6344 S Artesian Ave
- 6350 S Artesian Ave
- 6342 S Artesian Ave
- 6358 S Artesian Ave
- 6358 S Artesian Ave Unit 1
- 6338 S Artesian Ave
- 6336 S Artesian Ave
- 6336 S Artesian Ave
- 2438 W 64th St Unit 1
- 6332 S Artesian Ave
- 6332 S Artesian Ave Unit 1
- 6332 S Artesian Ave Unit 2
- 6349 S Campbell Ave
- 6347 S Campbell Ave
- 6347 S Campbell Ave
- 6351 S Campbell Ave
- 6351 S Campbell Ave
- 6351 S Campbell Ave Unit 2
- 6351 S Campbell Ave Unit 1
- 6349 S Artesian Ave