NOT LISTED FOR SALE

717 S Oak Park Ave Oak Park, IL 60304

Estimated Value: $583,000 - $639,000

4 Beds
4 Baths
2,049 Sq Ft
$300/Sq Ft Est. Value

Last Sold May 10, 2024

Last sale price $580,000 $283 Per Sq Ft

Est. 6% increase in value since last sale

Current estimated payment $4,707/month

6 Days on Market

Highlights

  • 3 Car Detached Garage
  • Heating System Uses Steam
  • 2-minute walk to Fox Park
  • Abraham Lincoln Elementary School Rated A-

About This Home

As of May 2024

Bursting with curb appeal, this arts and crafts home has been reimagined and redesigned to embody everything you love about living in Oak Park. It captures the beautiful outdoors while living inside and offers ideal outdoor space. Some noteworthy updates within the last three years include a new addition to the rear of the home, new water service with 1.5" service from the main pipe to the house and new copper pipes were added for optimal water pressure. Sellers also added NEW two baths, two electrical panels and upgraded service, a new 3-car garage, new radiators added to the 2nd-floor kitchen and entry, windows, a rear interior staircase, plus front porch and rear balcony. The entire exterior and interior of the home were painted, and the decks were stained. New doors and closets were added. The first floor features spacious living and dining rooms, a new large kitchen with granite counters and stainless appliances, three bedrooms, two full baths, in-unit laundry, and a private covered front deck. A separate private entrance with new wide stairs leads to the 2nd floor, featuring a new kitchen with granite counters and stainless appliances, two bedrooms, two full baths, a dry bar in the living room, and in-unit laundry. The piece-de resistance is the private deck designed with an architect's eye to capture the feeling of sitting in your private tree house. The partially finished basement, with private exterior access, is ideal for converting to an owner's apartment or duplex down from the first floor to create additional family space. The basement has plumbing for a full bath and laundry room. The village redid the sewer and streets in 2020 and the alley with cobblestone in 2023. The extraordinary magic of this home is the beautiful side and back yards, which are ideal for garden lovers, kids playing, etc. This ideal location is steps from Fox Park, restaurants, entertainment, grocery stores, the Blue Line, easy access to I-290, and 1 mile to Metra. An investment opportunity like this doesn't come along often, living quietly among the other single-family homes while generating income. Live in one unit while renting out the other or duplex to create a fantastic owner's suite. Use the basement as storage for both units, or finish renovating the basement and capitalize on your investment by renting out all three units. Create a one-of-a-kind single-family home encompassing separate in-law arrangements or private living. The possibilities are endless and bountiful. The top floor has been rented steadily and furnished for $2,800 a month. The 1st floor has been rented since conception for consecutive years, with long-term tenancy, at $2,650 monthly. The schools include Abraham Lincoln Elementary, Gwendolyn Brooks Middle, and Oak Park River Forest High. See additional information for detailed update sheet. PLEASE READ BROKER REMARKS FOR SHOWING INSTRUCTIONS FIRST FLOOR IS TENANT OCCUPIED. PLEASE DO NOT WALK PROPERTY. Thank you for understanding.

Last Agent to Sell the Property

Tracy Boyce

@properties Christie's International Real Estate License #475126271 Listed on: 04/05/2024

@properties Christie's International Real Estate

Last Buyer's Agent

Swati Saxena

Baird & Warner License #471003778

Baird & Warner

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,228

Year Built

  • Built in 1917 | Remodeled in 2021

Lot Details

  • Lot Dimensions are 50 x 125

Parking

  • 3 Car Detached Garage
  • 4 Open Parking Spaces
  • Alley Access
  • Garage Transmitter
  • Garage Door Opener
  • Parking Space is Owned

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Potential Bedrooms
  • 4 Bathrooms

Partially Finished Basement

  • English Basement
  • Basement Fills Entire Space Under The House

Schools

  • Abraham Lincoln Elementary Schoo
  • Gwendolyn Brooks Middle School
  • Oak Park & River Forest High Sch

Utilities

  • Radiator
  • Heating System Uses Steam

Community Details

Overview

  • 2 Units

Building Details

  • Electric Expense $923
  • Fuel Expense $2,193
  • Insurance Expense $1,295
  • Water Sewer Expense $560
  • Gross Income $65,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,228

Year Built

Built in 1917 | Remodeled in 2021

Lot Details

0

Parking

3

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1917
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: School Bus Service,Commuter Bus,Commuter Train,Interstate Access
  • Rebuilt (Y/N): Yes
  • Rehab (Y/N): Yes
  • Rehab Year: 2021
  • Rebuilt Year: 2021
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2021

Interior Features

  • Basement: Full, English
  • Total Bathrooms: 4
  • Total Bedrooms: 4
  • Basement Description: Partially Finished
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 4
  • Half Bathrooms in Building: 0

Exterior Features

  • List Price: 565000
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding,Stucco

Garage/Parking

  • Garage Spaces: 3
  • OpenParkingSpaces: 4
  • Parking Features: Alley Access
  • ParkingTotal: 7
  • Garage Details: Garage Door Opener(s),Transmitter(s)
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage,Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

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

Fee Information

  • Water Sewer Expenses: 560
  • Trash Expense Year: 329

Schools

  • Elementary School: Abraham Lincoln Elementary Schoo
  • High School: Oak Park & River Forest High Sch
  • Middle/Junior School: Gwendolyn Brooks Middle School
  • Middle/Junior School District: 97

Lot Info

  • Lot Dimensions: 50 X 125
  • Lot Size: Oversized Chicago Lot
  • Special Assessments: N

Rental Info

  • Board Number: 8

Multi Family

  • Fuel Expense: 2193
  • Insurance Expense: 1295
  • ElectricExpense: 923
  • GrossIncome: 65400
  • Units in Building: 2
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 3 Flat

Tax Info

  • Tax Annual Amount: 17228
  • Tax Year: 2021
  • Tax Exemptions: None

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 5, 2024
Closed on
May 8, 2024
Sold by
Siripromsombat Rachit
Bought by
Pezalla Anne and Mazarakos Peter
Seller's Agent
Tracy Boyce
@properties Christie's International Real Estate
Buyer's Agent
Swati Saxena
Baird & Warner
List Price
$565,000
Sold Price
$580,000
Premium/Discount to List
$15,000
2.65%
Views
124
Current Estimated Value
$616,607

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$36,607
Avg. Annual Appreciation
1.22%
Original Mortgage
$435,000
Outstanding Balance
$431,765
Interest Rate
8.13%
Mortgage Type
New Conventional
Estimated Equity
$157,120

Purchase Details

Listed on
Apr 5, 2024
Closed on
Apr 12, 2024
Sold by
Gupta Jeetendra and Siripromsombat Rachit
Bought by
Siripromsombat Rachit
Seller's Agent
Tracy Boyce
@properties Christie's International Real Estate
Buyer's Agent
Swati Saxena
Baird & Warner
List Price
$565,000
Sold Price
$580,000
Premium/Discount to List
$15,000
2.65%
Views
124

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$435,000
Outstanding Balance
$431,765
Interest Rate
8.13%
Mortgage Type
New Conventional
Estimated Equity
$157,120

Purchase Details

Listed on
Aug 29, 2018
Closed on
Feb 8, 2019
Sold by
Jones Daisy Mae
Bought by
Rachit Gupta Jeetendra and Rachit Siripromsombat
Seller's Agent
Milton Martinez
Chicagoland Brokers, Inc.
Buyer's Agent
Tracy Boyce
@properties Christie's International Real Estate
List Price
$399,000
Sold Price
$305,000
Premium/Discount to List
-$94,000
-23.56%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.02%
Original Mortgage
$228,750
Interest Rate
4.87%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 28, 2008
Sold by
Jones Daisy Mae
Bought by
Jones Daisy Mae and Daisy Mae Jones Living Trust
Source: Public Records

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

Purchase History

Date Buyer Sale Price Title Company
Pezalla Anne $580,000 None Listed On Document
Siripromsombat Rachit -- None Listed On Document
Rachit Gupta Jeetendra $305,000 Chicago Title Insu Co
Jones Daisy Mae -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Pezalla Anne $435,000
Previous Owner Rachit Gupta Jeetendra $228,750
Previous Owner Jones Daisy Mae $30,000
Previous Owner Jones Daisy M $100,000
Previous Owner Jones Daisy M $40,000
Previous Owner Jones Daisy M $15,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/10/2024 05/10/24 Sold $580,000 +2.7% $283 / Sq Ft
04/12/2024 04/12/24 Pending -- -- --
04/05/2024 04/05/24 For Sale $565,000 0.0% $276 / Sq Ft
08/02/2021 08/02/21 Rented -- -- --
07/24/2021 07/24/21 For Rent $2,250 0.0% --
02/08/2019 02/08/19 Sold $305,000 -17.5% $149 / Sq Ft
01/11/2019 01/11/19 Pending -- -- --
10/22/2018 10/22/18 Price Changed $369,900 -2.6% $181 / Sq Ft
10/12/2018 10/12/18 Price Changed $379,900 -4.8% $185 / Sq Ft
08/29/2018 08/29/18 For Sale $399,000 -- $195 / 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
2024 $15,974 $52,392 $8,750 $43,642
2023 $17,679 $52,392 $8,750 $43,642
2022 $17,679 $49,431 $6,250 $43,181
2021 $17,228 $46,039 $6,250 $39,789
2020 $16,807 $46,039 $6,250 $39,789
2019 $14,292 $43,424 $5,625 $37,799
2018 $13,752 $43,424 $5,625 $37,799
2017 $13,490 $43,424 $5,625 $37,799
2016 $14,018 $39,110 $4,687 $34,423
2015 $12,482 $39,110 $4,687 $34,423
2014 $11,630 $39,110 $4,687 $34,423
2013 $10,901 $38,004 $4,687 $33,317
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12022036

Midwest Real Estate Data (MRED)

APN: 16-18-125-018-0000