A
Seller's Agent in 2021
Aaron Sklar
Kiser Group Realty Inc
653 E 90th Place Chicago, IL 60619
Chatham Neighborhood
23
Beds
10
Baths
--
Sq Ft
9,100
Sq Ft Lot
Highlights
- 9,100 Sq Ft lot
- Storage Room
- Floor Furnace
About This Home
As of October 2021-9.05% In Place Cap Rate -Gross Income: $129540 -NOI: $85,929 653 E. 90th Pl is a meticulously maintained and professionally managed ten (10) unit property, located in the desirable Burnside community of Chicago's South Side. Nestled amongst an abundance of single family homes, the building sits on an incredibly quiet tree lined street just one (1) block away from Tuley Park, a community recreational center featuring a gym, auditorium, playgrounds, basketball courts, as well at ten lighted tennis courts. The building also sits just one block west of Cottage Grove's commercial corridor featuring an assortment of retail and grocery options. 653 E. 90th Pl has an incredibly desirable unit mix comprised solely of two and three bedroom apartment units. Currently, the building consists of three (3) 3b/1ba apartments, and seven (7) 2b/1ba apartment. All of which are incredibly spacious and feature an abundance of natural light. Furthermore, the units are all equipped modern kitchens with newer cabinetry and appliances and updated bathrooms. Additionally, all of the units boast resurfaced hardwood flooring throughout. Recent capital improvements to the building consist of, but not limited to, a new roof (2021) along with new gutters, an updated and code compliant porch system, updated plumbing and electric, and individual in-unit furnaces. 653 E. 90th Pl presents an investor with the unique opportunity to acquire a stabilized, cash flowing asset. From day one, an investor will realize an in place cap rate of 9.1% and a cash return of roughly 20%. Furthermore, by increasing rents to levels already being achieved in the building and surrounding area, an investor has the ability to achieve a cap rate over 10% and a cash return of nearly 25%.
Last Agent to Sell the Property
Aaron Sklar
Kiser Group Realty Inc License #475161507 Listed on: 07/07/2021
Co-Listed By
Noah Birk
Kiser Group Realty Inc License #475125864
Last Buyer's Agent
Noah Birk
Kiser Group Realty Inc License #475125864
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $12,605
Year Built
- Built in 1926
Lot Details
- 9,100 Sq Ft Lot
- Lot Dimensions are 40x125
Parking
- Common or Shared Parking
Home Design
- Flat Roof Shape
- Brick Exterior Construction
- Reflective Roof
- Rubber Roof
- Concrete Block And Stucco Construction
- Concrete Perimeter Foundation
Interior Spaces
- 2-Story Property
- Storage Room
Bedrooms and Bathrooms
- 23 Bedrooms
- 10 Bathrooms
Unfinished Basement
- Exterior Basement Entry
- Basement Window Egress
Utilities
- Floor Furnace
- Separate Meters
- 100 Amp Service
Listing and Financial Details
- Tenant pays for electricity, heat
Community Details
Overview
- 10 Units
Building Details
- Electric Expense $2,017
- Fuel Expense $1,642
- Insurance Expense $3,481
- Maintenance Expense $3,250
- Manager Expense $6,283
- Other Expense $1,500
- Trash Expense $1,650
- Water Sewer Expense $4,297
- Operating Expense $39,725
- Gross Income $129,540
- Net Operating Income $85,929
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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 |
|---|---|---|---|---|
| 10/22/2021 10/22/21 | Sold | $920,000 | -3.2% | -- |
| 08/04/2021 08/04/21 | Pending | -- | -- | -- |
| 07/07/2021 07/07/21 | For Sale | $950,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Agents Affiliated with this Home
-
-
N
Seller Co-Listing Agent in 2021
Noah Birk
Kiser Group Realty Inc
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11147818
APN: 25-03-226-019-0000
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