NOT LISTED FOR SALE

7232 Park Ave Summit, IL 60501

7 Beds
4 Baths
-- Sq Ft
4,356 Sq Ft Lot

Last Sold August 28, 2020

Last sale price $251,000

8 Days on Market

About This Home

As of August 2020

ALL BRICK BUILDING IN GOOD CONDITION AND VIRTUALLY MAINTENANCE FREE. SOME NEW WINDOWS, EXCELLENT RENTAL INCOME AND VERY MOTIVATED SELLER. EXCELENT LOCATION

Last Agent to Sell the Property

Sam Tayabali

1st Choice Real Property License #471002369 Listed on: 07/03/2020

Last Buyer's Agent

Kevin Kwit

Realty Executives Elite License #475145693

Realty Executives Elite

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,062

Year Built

  • Built in 1963 | Remodeled in 2017

Lot Details

  • 4,356 Sq Ft Lot
  • Lot Dimensions are 25x125

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Asphalt Roof
  • Concrete Perimeter Foundation

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 7 Potential Bedrooms
  • 4 Bathrooms

Parking

  • 4 Parking Spaces
  • Uncovered Parking
  • Parking Space is Owned
  • Unassigned Parking

Utilities

  • Heating System Uses Natural Gas
  • Lake Michigan Water

Community Details

Overview

  • 4 Units
  • H Flat

Building Details

  • Fuel Expense $2,400
  • Insurance Expense $1,500
  • Trash Expense $720
  • Water Sewer Expense $1,800
  • Gross Income $40,000
  • Net Operating Income $25,800

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,062

Year Built

Built in 1963 | Remodeled in 2017

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1963
  • Age: 51-60 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2017
  • ResoPropertyType: ResidentialIncome
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2017

Interior Features

  • Basement: None
  • Total Bathrooms: 4
  • Total Bedrooms: 7
  • Basement Description: Slab
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Window Air Conditioner
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Window Air Conditioner
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Window Air Conditioner
  • AppliancesAndFeatures: Stove,Refrigerator,Window Air Conditioner

Exterior Features

  • Foundation Details: Concrete Perimeter
  • Roof: Asphalt
  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • Parking Features: Unassigned
  • ParkingTotal: 4
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas
  • Water Source: Lake Michigan

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks, Street Lights

Fee Information

  • Trash Expense: 720
  • Water Sewer Expenses: 1800

Lot Info

  • Lot Size Acres: 0.1
  • Lot Dimensions: 25X125
  • Zoning: MULTI
  • Lot Size: Less Than .25 Acre
  • Special Assessments: U

Rental Info

  • Board Number: 10
  • TenantPays: Electric,Gas

Multi Family

  • Net Operating Income: 25800
  • Fuel Expense: 2400
  • Insurance Expense: 1500
  • GrossIncome: 40000
  • Units in Building: 4
  • Three Bedroom Number of Units: No
  • Type-Multi: 4 Flat

Tax Info

  • Tax Annual Amount: 9062.06
  • Tax Year: 2018
  • Tax Exemptions: None
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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
08/28/2020 08/28/20 Sold $251,000 0.0% --
07/11/2020 07/11/20 Pending -- -- --
07/09/2020 07/09/20 Off Market $251,000 -- --
07/09/2020 07/09/20 Price Changed $259,900 +4.0% --
07/03/2020 07/03/20 For Sale $249,900 -- --
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 $10,653 $30,405 $3,412 $26,993
2024 $10,653 $30,405 $3,412 $26,993
2023 $8,716 $30,405 $3,412 $26,993
2022 $8,716 $20,202 $2,941 $17,261
2021 $8,482 $20,202 $2,941 $17,261
2020 $8,973 $20,874 $2,941 $17,933
2019 $9,370 $20,382 $2,705 $17,677
2018 $9,062 $20,382 $2,705 $17,677
2017 $9,800 $22,072 $2,705 $19,367
2016 $6,733 $14,257 $2,353 $11,904
2015 $6,525 $14,257 $2,353 $11,904
2014 $6,386 $14,257 $2,353 $11,904
2013 $6,812 $16,935 $2,353 $14,582
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 10769548

Midwest Real Estate Data (MRED)