NOT LISTED FOR SALE

7244 W 63rd Place Summit, IL 60501

9 Beds
6 Baths
3,920 Sq Ft
5,082 Sq Ft Lot

Last Sold May 07, 2019

Last sale price $350,000 $89 Per Sq Ft

15 Days on Market

Highlights

  • Hot Water Heating System
  • Argo Community High School Rated A-
  • 5-minute walk to Nottingham Park

About This Home

As of May 2019

LOCATED IN OPPORTUNITY ZONE Divided into six apartments, this 100% leased multi-family building is for sale at a 10.4% cap rate. The property has three one-bedroom units and three two-bedroom units, most of which have private outdoor space. Generating more than $5,000 per month, this property is a solid income producer and a great opportunity. The apartment building is close to schools, shopping and restaurants on Harlem Ave.

Last Agent to Sell the Property

Vinnie Pine

Millennium Properties RE, Inc. License #475183119 Listed on: 02/19/2019

Co-Listed By

Daniel Hyman

Millennium Properties RE, Inc. License #471013658

Last Buyer's Agent

Gary Lucido

Lucid Realty, Inc. License #471004524

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,416

Year Built

  • Built in 1965

Lot Details

  • 5,082

Interior Spaces

  • 3,920 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 6 Bathrooms

Additional Features

  • 5,082 Sq Ft Lot
  • Hot Water Heating System

Community Details

  • 6 Units
  • Net Operating Income $34,860

Listing and Financial Details

  • Tenant pays for air conditioning, electricity

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,416

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 3
  • Year Built: 1965
  • Built Before 1978 (Y/N): Yes
  • Information: 48-Hr Notice Required
  • Estimated Age: 36-50 Years
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 9
  • Room: 0

Exterior Features

  • Misc Outside: Balcony/ies

Utilities

  • Heat/Ventilation: Hot Water

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 5082
  • Lot Size Sq Ft: 5082
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Air Conditioning, Electricity
  • Board Number: 8

Building Info

  • BuildingAreaTotal: 3920

Multi Family

  • Net Operating Income: 34860
  • NumberOfUnitsTotal: 6
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 13416
  • Tax Year: 2017
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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
08/07/2019 08/07/19 Off Market $350,000 -- --
05/07/2019 05/07/19 Sold $350,000 +4.8% $89 / Sq Ft
03/06/2019 03/06/19 Pending -- -- --
02/19/2019 02/19/19 For Sale $334,000 -- $85 / 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 $13,556 $38,692 $3,685 $35,007
2024 $13,556 $38,692 $3,685 $35,007
2023 $9,544 $38,692 $3,685 $35,007
2022 $9,544 $22,121 $3,176 $18,945
2021 $10,040 $23,913 $3,176 $20,737
2020 $10,280 $23,913 $3,176 $20,737
2019 $13,891 $30,216 $2,922 $27,294
2018 $13,434 $30,216 $2,922 $27,294
2017 $13,416 $30,216 $2,922 $27,294
2016 $10,728 $22,715 $2,541 $20,174
2015 $10,397 $22,715 $2,541 $20,174
2014 $10,175 $22,715 $2,541 $20,174
2013 $6,637 $16,500 $2,541 $13,959
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 10276824

Midwest Real Estate Data (MRED)