A
Seller's Agent in 2020
Aaron Sklar
Kiser Group Realty Inc
6711 S Chappel Ave Chicago, IL 60649
South Shore NeighborhoodEstimated Value: $90,000 - $438,000
15
Beds
8
Baths
--
Sq Ft
5,358
Sq Ft Lot
About This Home
As of December 2020* 8% In-Place Cap Rate * Gross Income (w/ 5% vacancy) - $77,700 * NOI - $42,423 Kiser Group is pleased to exclusively offer for purchase 6711 S. Chappel, an eight (8) unit walk up-building located in Chicago's Jackson Park neighborhood, just blocks away from Lake Michigan. Furthermore, 6711 S. Chappel boasts close proximity to the future Presidential Library, as well as the upcoming Tiger Woods developed Golf Course 6711 S. Chappel consists of seven (7) 2b/1ba units and one (1) 1b/1ba units. All the units include spacious layouts and have been well maintained. The building also includes coin operated laundry and five (5) parking spaces for tenant use. 6711 S. Chappel offers a unique opportunity to acquire a cash flowing asset, while also offering a significant value-add opportunity: current rents in the building are significantly lower compared to similar buildings in the area. Additionally, The building currently has eight (8) individual PIN numbers. A new owner could drastically lower their property tax expense by combining the units back to one PIN number.
Last Agent to Sell the Property
Aaron Sklar
Kiser Group Realty Inc License #475161507 Listed on: 06/02/2020
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
- $9,565
Year Built
- Built in 1922
Lot Details
- Lot Dimensions are 42' x 125'
- Additional Parcels
Bedrooms and Bathrooms
- 15 Bedrooms
- 8 Bathrooms
Additional Features
- 3-Story Property
- Radiator
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 8 Units
Building Details
- Electric Expense $841
- Fuel Expense $5,419
- Insurance Expense $2,400
- Maintenance Expense $1,000
- Manager Expense $3,705
- Other Expense $750
- Trash Expense $1,932
- Water Sewer Expense $6,690
- Operating Expense $33,802
- Gross Income $777,000
- Net Operating Income $42,423
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 2, 2020
Closed on
Dec 3, 2020
Sold by
Chappel Llc
Bought by
6711 Chappel Llc
Seller's Agent
Aaron Sklar
Kiser Group Realty Inc
Buyer's Agent
Noah Birk
Kiser Group Realty Inc
List Price
$525,000
Sold Price
$475,000
Premium/Discount to List
-$50,000
-9.52%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$252,333
Avg. Annual Appreciation
-13.20%
Original Mortgage
$356,250
Outstanding Balance
$179,861
Interest Rate
0.39%
Mortgage Type
New Conventional
Estimated Equity
$42,806
Purchase Details
Closed on
Mar 14, 2008
Sold by
Chicago Title Land Trust Co
Bought by
Chappel Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$504,000
Interest Rate
6.25%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 11, 2006
Sold by
Chicago Title Land Trust Co
Bought by
Chicago Title Land Trust Co and Trust #8002347814
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$475,000
Interest Rate
6.36%
Mortgage Type
Commercial
Purchase Details
Closed on
Nov 29, 2005
Sold by
Chicago Title Land Trust Co
Bought by
Chicago Title Land Trust Co and Trust #8002345382
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$395,000
Interest Rate
6.36%
Mortgage Type
Commercial
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
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 6711 Chappel Llc | $475,000 | Citywide Title Corporation | |
| Chappel Llc | $630,000 | Guaranty National Title Co | |
| Chicago Title Land Trust Co | $499,000 | None Available | |
| Chicago Title Land Trust Co | $466,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | 6711 Chappel Llc | $356,250 | |
| Previous Owner | Chappel Llc | $504,000 | |
| Previous Owner | Chicago Title Land Trust Co | $475,000 | |
| Previous Owner | Chicago Title Land Trust Co | $395,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/08/2021 03/08/21 | Off Market | $475,000 | -- | -- |
| 12/07/2020 12/07/20 | Sold | $475,000 | -9.5% | -- |
| 10/04/2020 10/04/20 | Pending | -- | -- | -- |
| 06/02/2020 06/02/20 | For Sale | $525,000 | -- | -- |
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 | $926 | $4,713 | $804 | $3,909 |
| 2024 | $926 | $4,713 | $804 | $3,909 |
| 2023 | $1,440 | $4,375 | $648 | $3,727 |
| 2022 | $1,440 | $7,000 | $648 | $6,352 |
| 2021 | $1,407 | $6,999 | $648 | $6,351 |
| 2020 | $1,040 | $4,667 | $466 | $4,201 |
| 2019 | $938 | $4,667 | $466 | $4,201 |
| 2018 | $922 | $4,667 | $466 | $4,201 |
| 2017 | $1,075 | $4,995 | $389 | $4,606 |
| 2016 | $1,000 | $4,995 | $389 | $4,606 |
| 2015 | $1,015 | $5,537 | $389 | $5,148 |
| 2014 | $960 | $5,176 | $389 | $4,787 |
| 2013 | $941 | $5,176 | $389 | $4,787 |
Source: Public Records
Agents Affiliated with this Home
-
-
N
Seller Co-Listing Agent in 2020
Noah Birk
Kiser Group Realty Inc
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 10736344
APN: 20-24-401-026-1001
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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.
Based on information submitted to the MLS GRID
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