NOT LISTED FOR SALE

716 E 81st St Chicago, IL 60619

Chatham Neighborhood
18 Beds
12 Baths
7,800 Sq Ft
7,479 Sq Ft Lot

Last Sold October 03, 2023

Last sale price $700,000 $90 Per Sq Ft

149 Days on Market

About This Home

As of October 2023

HUGE ADD VALUE BY RAISING RENTS! The subject property of 716 E 81st Street is located 11.2 miles south of Chicago's downtown loop area. 1.2 miles east of Chicago Transit Authority (CTA) 79th Street Red Line Train station, .7 miles northwest of the 83rd Street Metra Electric train station, and 500 feet from the CTA"s Cottage grove and 81st Street bus 4 stop. The unit mix for the subject property consists of of six(6) one-bedroom/one-bathroom units that measure 700 SF and six(6) two-bedroom/one-bathroom units that measure 900 SF.

Last Agent to Sell the Property

Paul Proano

Coldwell Banker Commercial NRT License #475170890 Listed on: 11/26/2022

Coldwell Banker Commercial NRT

Last Buyer's Agent

Maikol Akintonde

Real People Realty License #471004463

Real People Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,961

Year Built

  • Built in 1925

Lot Details

  • 7,479 Sq Ft Lot

Home Design

  • Garden Apartment
  • Brick Exterior Construction

Interior Spaces

  • 7,800 Sq Ft Home
  • 3-Story Property
  • Unfinished Basement

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 12 Bathrooms

Utilities

  • Window Unit Cooling System
  • Central Heating
  • Heating System Uses Gas

Listing and Financial Details

  • Tenant pays for air conditioning, electricity

Community Details

Overview

  • 12 Units

Building Details

  • Electric Expense $540
  • Fuel Expense $5,500
  • Insurance Expense $6,000
  • Maintenance Expense $2,400
  • Manager Expense $5,419
  • Other Expense $4,198
  • Trash Expense $1,440
  • Water Sewer Expense $6,500
  • Operating Expense $44,957
  • Gross Income $115,440
  • Net Operating Income $62,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,961

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Garden Complex
  • Stories: 3
  • Year Built: 1925
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required
  • Estimated Age: Older
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 12
  • Total Bedrooms: 18
  • Possible Use: Commercial
  • Basement Description: Unfinished
  • Fireplaces: 0
  • Dishwashers: 0
  • Refrigerators: 12
  • Ranges: 12
  • Number of Washers: 0
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Exterior Building Type: Brick

Utilities

  • Cooling: Window Unit(s)
  • Electric: Circuit Breakers
  • Heat/Ventilation: Central Bldg Heat,Gas

Condo/Co-op/Association

  • Manager Expense: 5419
  • Owners Association (Y/N): No

Fee Information

  • Trash Expense: 1440
  • Water Sewer Expenses: 6500
  • Operating Expense Includes: Maintenance,Supplies

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.17
  • Lot Dimensions: 7479
  • Lot Size Sq Ft: 7479
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Air Conditioning, Electricity
  • Board Number: 20
  • Tenancy Type: Leases

Building Info

  • BuildingAreaTotal: 7800

Multi Family

  • Net Operating Income: 62400
  • Fuel Expense: 5500
  • Insurance Expense: 6000
  • ElectricExpense: 540
  • GrossIncome: 115440
  • Maintenance Expense: 2400
  • NumberOfUnitsTotal: 12
  • OperatingExpense: 44957
  • Type Multi-Family: Garden Complex

Tax Info

  • Tax Annual Amount: 10961
  • Tax Year: 2021

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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 List to Sale Price per Sq Ft
10/03/2023 10/03/23 Sold $700,000 -2.1% $90 / Sq Ft
04/26/2023 04/26/23 Pending -- -- --
04/12/2023 04/12/23 Price Changed $715,000 -1.4% $92 / Sq Ft
11/27/2022 11/27/22 For Sale $725,000 -- $93 / Sq Ft
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
2025 $10,979 $75,201 $11,593 $63,608
2024 $10,979 $75,201 $11,593 $63,608
2023 $10,702 $52,034 $6,731 $45,303
2022 $10,702 $52,034 $6,731 $45,303
2021 $10,464 $52,034 $6,731 $45,303
2020 $10,961 $49,203 $6,731 $42,472
2019 $11,597 $57,720 $6,731 $50,989
2018 $11,402 $57,720 $6,731 $50,989
2017 $8,953 $41,590 $5,609 $35,981
2016 $8,330 $41,590 $5,609 $35,981
2015 $8,296 $45,271 $5,609 $39,662
2014 $7,958 $42,893 $5,609 $37,284
2013 $7,801 $42,893 $5,609 $37,284
Source: Public Records

Agents Affiliated with this Home

  • Paul Proano

    Seller's Agent in 2023

    Paul Proano

    Coldwell Banker Commercial NRT

    (312) 860-4043

    1 in this area

    53 Total Sales

    Paul Proano
    Section Image
  • Maikol Akintonde

    Buyer's Agent in 2023

    Maikol Akintonde

    Real People Realty

    (312) 544-9046

    5 in this area

    81 Total Sales

    Maikol Akintonde
    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11678705

Midwest Real Estate Data (MRED)

APN: 20342140320000

Illinois Cook County Chicago 60619 Chatham

716 E 81st St, Chicago, IL

Not Listed for Sale

MultiFamily

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