NOT LISTED FOR SALE

Estimated Value: $993,535

21 Beds
7 Baths
-- Sq Ft
7,884 Sq Ft Lot

Last Sold May 02, 2024

Last sale price $940,000

Est. 6% increase in value since last sale

Current estimated payment $7,070/month

77 Days on Market

About This Home

As of May 2024

Exclusive purchasing opportunity for 6560 s Western Chicago, IL. A charming 15 unit mixed use property situated in Marquette Park, a neighborhood on Chicago's South side.Nestled on a tree lined street this property offers tenants the convenience of quick and easy access to bus lines,restaurants,shopping and more.6560 s Western boast an exceptional unit mix comprised of 8 three bedroom units, 2 two bedroom units, 2 four bedroom units all one bath. 3 commercial Retail storefront units.Beautiful hardwood flooring throughout the residential units.Very well maintained.The true potential lies in the opportunity to increase rental Income, since some rents are below market.By doing so an Investor can attain a remarkable cap rate.This is a rare chance to acquire a well established income generating asset with a strong tenant base and attractive financial prospects. This property offers a solid Investment opportunity.

Last Agent to Sell the Property

Tameka McClellon

Tameka McClellon License #471022512 Listed on: 12/26/2023

Last Buyer's Agent

Sandra Ardon

Su Familia Real Estate Inc License #475178300

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $27,375

Year Built

  • Built in 1923

Lot Details

  • 7,884 Sq Ft Lot
  • Lot Dimensions are 73' x 108'

Interior Spaces

  • 3-Story Property

Bedrooms and Bathrooms

  • 21 Bedrooms
  • 7 Bathrooms

Utilities

  • Central Heating and Cooling System
  • Separate Meters

Listing and Financial Details

  • Tenant pays for electricity, heat

Community Details

Overview

  • 15 Units

Building Details

  • Electric Expense $1,875
  • Fuel Expense $1,875
  • Insurance Expense $7,676
  • Maintenance Expense $801
  • Other Expense $37,000
  • Trash Expense $4,344
  • Water Sewer Expense $12,543
  • Operating Expense $68,472
  • Gross Income $199,596
  • Net Operating Income $131,124

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$27,375

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Other
  • Stories: 3
  • Year Built: 1923
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany,48-Hr Notice Required,Non-Disclosure Agreement
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 7
  • Total Bedrooms: 21
  • Fire Protection: Other
  • Room: 6
  • Room: 6
  • Room: 6

Exterior Features

  • List Price: 999000

Utilities

  • Cooling: Central Individual
  • Electric: Separate Meters
  • Heat/Ventilation: Central Heat/Indiv Controls

Fee Information

  • Trash Expense: 4344
  • Water Sewer Expenses: 12543
  • Janitor Expense: 2128

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 73' X 108'
  • Lot Size Sq Ft: 7884

Rental Info

  • Tenant Pays: Electricity, Heat
  • Board Number: 8

Multi Family

  • Net Operating Income: 131124
  • Fuel Expense: 1875
  • Insurance Expense: 7676
  • ElectricExpense: 1875
  • GrossIncome: 199596
  • Maintenance Expense: 801
  • NumberOfUnitsTotal: 15
  • OperatingExpense: 68472
  • Type Multi-Family: Other

Tax Info

  • Tax Annual Amount: 27375
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 26, 2023
Closed on
Apr 29, 2024
Sold by
Mrjp Ventures Llc
Bought by
1408 Ohio Property Llc
Seller's Agent
Tameka McClellon
Tameka McClellon
Buyer's Agent
Sandra Ardon
Su Familia Real Estate Inc
List Price
$1,000,050
Sold Price
$940,000
Premium/Discount to List
-$60,050
-6%
Views
93
Current Estimated Value
$993,535

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$53,535
Avg. Annual Appreciation
3.84%
Original Mortgage
$790,000
Outstanding Balance
$778,902
Interest Rate
6.87%
Mortgage Type
New Conventional
Estimated Equity
$214,633

Purchase Details

Closed on
Dec 28, 2015
Sold by
Chicago Title Land Trust Company
Bought by
Mrjp Ventures Llc

Purchase Details

Closed on
Aug 31, 2012
Sold by
Lams Investment Group Llc
Bought by
Chicago Title Land Trust Co and Trust Number 8002360102

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$327,000
Interest Rate
3.34%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Jan 14, 2011
Sold by
Delvision West Llc
Bought by
Lams Investment Group Llc

Purchase Details

Closed on
Dec 15, 2010
Sold by
Hmp Properties Inc
Bought by
Delvision West Llc

Purchase Details

Closed on
Dec 2, 2010
Sold by
Hmp Properties Inc
Bought by
Delvision West Llc and 7804 South Maryland Llc

Purchase Details

Closed on
May 19, 2010
Sold by
Porrata Ralph O
Bought by
Hmp Properties Inc

Purchase Details

Closed on
Dec 28, 2005
Sold by
Domenech Gus
Bought by
Porrata Ralph O

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,012,500
Interest Rate
6.4%
Mortgage Type
Commercial

Purchase Details

Closed on
May 19, 2004
Sold by
The Old Second National Bank Of Aurora
Bought by
Domenech Gus

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,040,000
Interest Rate
5.99%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 13, 2001
Sold by
Pellegrino Joe
Bought by
Old Second National Bank Of Aurora and Trust #8545

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$670,000
Interest Rate
7.27%
Mortgage Type
Construction

Purchase Details

Closed on
Oct 31, 2000
Sold by
Schnur Louis B and Schnur Judith
Bought by
Pelligrino Joe

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,000
Interest Rate
7.87%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
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

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
1408 Ohio Property Llc $940,000 None Listed On Document
Mrjp Ventures Llc $530,000 Chicago Title Land Trust Co
Chicago Title Land Trust Co -- Chicago Title Land Trust Com
Lams Investment Group Llc $275,000 Ctic
Delvision West Llc $390,000 Ctic
Delvision West Llc $390,000 Ctic
Hmp Properties Inc -- None Available
Porrata Ralph O -- Cti
Domenech Gus $1,300,000 Ctic
Old Second National Bank Of Aurora $395,000 --
Pelligrino Joe $160,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 1408 Ohio Property Llc $790,000
Previous Owner Chicago Title Land Trust Co $327,000
Previous Owner Porrata Ralph O $1,012,500
Previous Owner Domenech Gus $1,040,000
Previous Owner Old Second National Bank Of Aurora $670,000
Previous Owner Pelligrino Joe $110,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/02/2024 05/02/24 Sold $940,000 -5.9% --
03/13/2024 03/13/24 Pending -- -- --
03/06/2024 03/06/24 Price Changed $999,000 -0.1% --
03/05/2024 03/05/24 Price Changed $1,000,000 0.0% --
02/28/2024 02/28/24 Price Changed $1,000,050 0.0% --
02/17/2024 02/17/24 Price Changed $1,000,025 0.0% --
02/11/2024 02/11/24 Price Changed $1,000,050 0.0% --
02/05/2024 02/05/24 Price Changed $1,000,000 0.0% --
01/29/2024 01/29/24 Price Changed $1,000,050 0.0% --
01/21/2024 01/21/24 Price Changed $1,000,000 0.0% --
01/19/2024 01/19/24 For Sale $1,000,050 0.0% --
01/12/2024 01/12/24 Pending -- -- --
12/26/2023 12/26/23 For Sale $1,000,050 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

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
2024 $21,816 $157,201 $12,149 $145,052
2023 $21,268 $103,401 $11,541 $91,860
2022 $21,268 $103,401 $11,541 $91,860
2021 $20,793 $103,400 $11,541 $91,859
2020 $19,356 $86,888 $11,541 $75,347
2019 $17,457 $86,888 $11,541 $75,347
2018 $17,163 $86,888 $11,541 $75,347
2017 $11,409 $53,000 $10,528 $42,472
2016 $10,615 $53,000 $10,528 $42,472
2015 $7,528 $41,079 $10,528 $30,551
2014 $8,979 $48,393 $10,528 $37,865
2013 $7,698 $42,325 $10,528 $31,797
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11951451

Midwest Real Estate Data (MRED)

APN: 19-24-223-040-0000