NOT LISTED FOR SALE

7240 Park Ave Summit, IL 60501

7 Beds
4 Baths
-- Sq Ft
7,405 Sq Ft Lot

Last Sold October 27, 2022

Last sale price $330,000

8 Days on Market

About This Home

As of October 2022

A chance for a great investment! This brick 4 unit building is fully occupied. The roof, windows, and water heater have all been changed in the last 2 years. The entry is freshly painted with new carpet is being installed. Not far from Harlem and Archer Ave. as well as I-55. Property has parking in rear for 4 vehicles. It has a bonus lot behind the parking that is fenced in as well. There is nice income potential with this property!

Last Agent to Sell the Property

Naim Dabeca

N D Realty License #471007909 Listed on: 09/09/2022

Last Buyer's Agent

John Palomo

Coldwell Banker Realty License #475141680

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,556

Year Built

  • Built in 1963

Lot Details

  • 7,405

Home Design

  • Brick Exterior Construction

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 7 Potential Bedrooms
  • 4 Bathrooms

Parking

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

Schools

  • Argo Community High School

Utilities

  • Heating System Uses Natural Gas
  • Lake Michigan Water

Community Details

  • 4 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,556

Year Built

Built in 1963

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: Interstate Access
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • Actual Status: Closed
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • ParkingTotal: 4
  • Number of Cars: 4
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

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

Schools

  • High School: Argo Community High School

Lot Info

  • Lot Dimensions: .17
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 10
  • TenantPays: Electric,Gas

Tax Info

  • Tax Annual Amount: 9556.04
  • Tax Year: 2020

Multi Family

  • Units in Building: 4
  • Three Bedroom Number of Units: No
  • Type-Multi: 4 Flat
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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
10/27/2022 10/27/22 Sold $330,000 -2.7% --
09/18/2022 09/18/22 Pending -- -- --
09/09/2022 09/09/22 For Sale $339,000 -- --
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 $11,212 $32,001 $5,425 $26,576
2024 $11,212 $32,001 $5,425 $26,576
2023 $9,591 $32,001 $5,425 $26,576
2022 $9,591 $22,230 $4,676 $17,554
2021 $9,334 $22,230 $4,676 $17,554
2020 $9,556 $22,230 $4,676 $17,554
2019 $11,372 $24,736 $4,302 $20,434
2018 $10,998 $24,736 $4,302 $20,434
2017 $10,982 $24,736 $4,302 $20,434
2016 $8,159 $17,275 $3,741 $13,534
2015 $7,907 $17,275 $3,741 $13,534
2014 $7,738 $17,275 $3,741 $13,534
2013 $7,472 $18,575 $3,741 $14,834
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11625810

Midwest Real Estate Data (MRED)