NOT LISTED FOR SALE

6444 S Vernon Ave Chicago, IL 60637

West Woodlawn Neighborhood
5 Beds
2 Baths
2,272 Sq Ft
1905 Built

Last Sold July 13, 2023

Last sale price $109,000 $48 Per Sq Ft

9 Days on Market

About This Home

As of July 2023

Woodlawn is one of the fastest appreciating neighborhoods in the entire nation! This Greystone 2-unit is available for an absolute steal! There is so much upside for an investor looking to make a large profit or a homeowner looking to plant their feet in an area that will continue to aggressively appreciate for years to come! This Greystone 2-flat includes two large residential units, a full walkout basement and a private enclosed back yard! Unit #1 has 2-bedrooms, and 1 full bathroom which can easily be converted into a 3-bedroom by compromising the dining room. Unit #2 has 3-bedrooms and 1 full bathroom. Updated 3-bedroom apartments can rent for $1,700+ per month in this neighborhood! The strategy that will yield the maximum equity or profit margin will be achieved by improving this 2-unit into a legal 3-unit by converting the large unfinished basement into a legal dwelling unit and cooperating with the city of Chicago to improve the zoning from a 2 to 3-unit residential property. This strategy was effective at 6235 S. Eberhart which was sold in December of 2022 for $585,000. The after-repair-value for non-new construction 3-units or 2-units with legal garden apartments is $523,000, based on comparable sales within the past 6 months within a half mile radius of the subject property! With the right construction strategy there is an approximate $150,000+ profit margin available! In 2020 the city of Chicago passed the Additional Dwelling Unit Ordinance which provides owners of multi-units with up to $35,000 in funds in the form of a forgivable loan to create additional living space in the basement! For more ambitious investors, there is also potential to build a coach house in the back yard which the ADU ordinance also supports in the effort to achieve an even higher valuation ($550,000+). There are a plethora of new construction projects in this area which speaks to the future of this neighborhood and high consumer confidence! Minutes from the Lakefront, proximity to The University of Chicago, the Obama Presidential Library, Dan Ryan, Red Line and Jackson Park! Priced to sell so please act swiftly! ***This property is already hard money approved with our lender that requires 7% down and will finance 100% of the renovation***

Last Agent to Sell the Property

D'Andre Daye

eXp Realty License #475185030 Listed on: 06/11/2023

eXp Realty

Co-Listed By

Michael Applegate

Straight-A Realty, LLC License #471020131

Last Buyer's Agent

Dana Jones

Century 21 IMPACT License #475180516

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,614

Year Built

  • Built in 1905

Parking

  • 2 Car Detached Garage
  • Parking Included in Price

Home Design

  • Flat Roof Shape

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Potential Bedrooms
  • 2 Bathrooms

Additional Features

  • Basement Fills Entire Space Under The House
  • Lot Dimensions are 25x125
  • Radiator

Community Details

  • 2 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,614

Year Built

Built in 1905

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1905
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Total Bathrooms: 2
  • Total Bedrooms: 5
  • Basement Description: Unfinished
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 2
  • Half Bathrooms in Building: 0
  • MRD_AppliancesAndFeatures: Hardwood Floors
  • MRD_AppliancesAndFeatures: Hardwood Floors

Exterior Features

  • List Price: 109900
  • Roof: Flat
  • Waterfront: No
  • Exterior Building Type: Brick,Stone,Brick/Stone Msn Pred

Garage/Parking

  • Garage Spaces: 2
  • Number of Cars: 2
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer
  • Heating: Radiator(s)
  • Water Source: Public

Schools

  • Middle/Junior School District: 299

Lot Info

  • Lot Dimensions: 25X125
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 10
  • Is Parking Included in Price: Yes

Tax Info

  • Tax Annual Amount: 2614.17
  • Tax Year: 2021

Multi Family

  • Units in Building: 2
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 2 Flat

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/13/2023 07/13/23 Sold $109,000 -0.8% $48 / Sq Ft
06/21/2023 06/21/23 Pending -- -- --
06/11/2023 06/11/23 For Sale $109,900 -- $48 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2023

    D'Andre Daye

    eXp Realty

    (888) 574-9405

    4 in this area

    62 Total Sales

    Section Image
  • Michael Applegate

    Seller Co-Listing Agent in 2023

    Michael Applegate

    Straight-A Realty, LLC

    (630) 288-2446

    3 in this area

    80 Total Sales

    Section Image
  • Dana Jones

    Buyer's Agent in 2023

    Dana Jones

    Century 21 IMPACT

    (773) 495-3659

    2 in this area

    121 Total Sales

    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11805318

Midwest Real Estate Data (MRED)

APN: 20222080290000

Illinois Cook County Chicago 60637 West Woodlawn

6444 S Vernon Ave, Chicago, IL

This home is located at 6444 S Vernon Ave, Chicago, IL 60637 since 11 June 2023. This property was built in 1905. 6444 S Vernon Ave is a home located in Cook County with nearby schools including Dulles Elementary School, Hyde Park Academy High School, and CICS Washington Park.

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