NOT LISTED FOR SALE

7247 W Wellington Ave Elmwood Park, IL 60707

30 Beds
15 Baths
4,615 Sq Ft
5,813 Sq Ft Lot

Last Sold July 31, 2023

Last sale price $795,000 $172 Per Sq Ft

10 Days on Market

About This Home

As of July 2023

RARELY DO YOU COME ACROSS SUCH A BEAUTIFUL BRICK 5-UNIT APARTMENT BUILDING WITH A 3-CAR BRICK GARAGE. IT IS A PERFECT OPPORTUNITY FOR BOTH INVESTMENT AND LIVING PURPOSES. THE BACKYARD IS SIMPLY GORGEOUS, ADORNED WITH APPLE, PEAR, AND GRAPE TREES, AS WELL AS A PATIO AND A DESIGNATED AREA FOR GARDENING, CREATING A WONDERFUL GARDEN-LIKE ATMOSPHERE. ALL UNITS HAVE BEEN METICULOUSLY MAINTAINED. HARDWOOD FLOORS AND CERAMIC TILE FLOORS IN THE BATHROOMS. IN ADDITION, THERE ARE 6 EXTRA STORAGES AND A COIN-OPERATED LAUNDRY IN THE COMMON AREA. FURTHERMORE, THE HUGE BASEMENT OFFERS ADDITIONAL ROOMS THAT ARE CURRENTLY BEING USED FOR STORAGE. THIS BUILDING IS FULLY OCCUPIED, WITH RENTS KEPT LOW DUE TO THE LONG-TERM TENANTS WHO ARE ON MONTH-TO-MONTH LEASES. IT PRESENTS A GREAT INVESTMENT OPPORTUNITY IN AN AREA WITH EXCELLENT RENTAL POTENTIAL, BOASTING NEARBY SCHOOLS, PARKS, A BUS STOP ON HARLEM AVE AND BELMONT AVE, ALSO VARIOUS SHOPPING OPTIONS. ADDITIONALLY, THE PROXIMITY TO THE METRA ADDS TO THE CONVENIENCE OF THE LOCATION. WITH NUMEROUS IMPROVEMENTS AND SITUATED IN THE FANTASTIC RENTAL LOCATION OF ELMWOOD PARK, THIS BUILDING IS TRULY REMARKABLE.

Last Agent to Sell the Property

Regina Zak Tomas

Chicagoland Brokers, Inc. License #471010143 Listed on: 06/10/2023

Chicagoland Brokers, Inc.

Last Buyer's Agent

Barbara Kieca

Hometown Real Estate License #475153778

Hometown Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,493

Year Built

  • Built in 1955

Lot Details

  • 5,813 Sq Ft Lot

Home Design

  • Brick Exterior Construction
  • Composition Roof

Interior Spaces

  • 4,615 Sq Ft Home
  • 2-Story Property
  • Finished Basement

Bedrooms and Bathrooms

  • 30 Bedrooms
  • 15 Bathrooms

Location

  • Property is near public transit
  • Urban Location

Utilities

  • Window Unit Cooling System
  • Central Heating
  • Radiant Heating System

Listing and Financial Details

  • Tenant pays for air conditioning, electricity

Community Details

Overview

  • 5 Units

Building Details

  • Electric Expense $669
  • Fuel Expense $4,908
  • Insurance Expense $2,453
  • Trash Expense $906
  • Water Sewer Expense $3,944
  • Operating Expense $28,373
  • Gross Income $82,080
  • Net Operating Income $56,227

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,493

Year Built

Built in 1955

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Flats
  • Stories: 2
  • Year Built: 1955
  • Built Before 1978 (Y/N): Yes
  • Information: 24-Hr Notice Required
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 15
  • Total Bedrooms: 30
  • Basement Description: Finished
  • Fireplaces: 1
  • Refrigerators: 4
  • Ranges: 5
  • Number of Windows: 4
  • Number of Washers: 1
  • Room: 5
  • Room: 5
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • List Price: 825000
  • Roof: Composition
  • Exterior Building Type: Brick

Garage/Parking

  • Indoor Parking: 1-5 Spaces

Utilities

  • Cooling: Window Unit(s)
  • Heat/Ventilation: Central Bldg Heat,Radiant
  • Leased Washer Dryer YN: No

Condo/Co-op/Association

  • Unincorporated (Y/N): No
  • Conversion YN: N

Fee Information

  • Trash Expense: 906
  • Water Sewer Expenses: 3944
  • Janitor Expense: 0

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 5,813 SF
  • Lot Size Sq Ft: 5813
  • Zoning: MULTI

Rental Info

  • Tenant Pays: Air Conditioning, Electricity, Other
  • Board Number: 8
  • Tenancy Type: Month To Month

Building Info

  • BuildingAreaTotal: 4615
  • Building Unit Info: Smoke/Alarm Detector,Storage/Locker Area

Multi Family

  • Net Operating Income: 56227
  • Fuel Expense: 4908
  • Insurance Expense: 2453
  • ElectricExpense: 669
  • GrossIncome: 82080
  • NumberOfUnitsTotal: 5
  • OperatingExpense: 28373
  • Expense Year: 2022
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 15493
  • Tax Year: 2021

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

Property History

Date Event Price List to Sale Price per Sq Ft
07/31/2023 07/31/23 Sold $795,000 -3.6% $172 / Sq Ft
06/21/2023 06/21/23 Pending -- -- --
06/15/2023 06/15/23 Price Changed $825,000 -5.7% $179 / Sq Ft
06/10/2023 06/10/23 For Sale $875,000 -- $190 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Regina Zak Tomas

    Seller's Agent in 2023

    Regina Zak Tomas

    Chicagoland Brokers, Inc.

    (773) 520-1522

    4 in this area

    25 Total Sales

    Regina Zak Tomas
    Section Image

  • B

    Buyer's Agent in 2023

    Barbara Kieca

    Hometown Real Estate

    (773) 297-0312

    6 in this area

    74 Total Sales

    Barbara Kieca
    Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11804975

Midwest Real Estate Data (MRED)
Illinois Cook County Elmwood Park 60707

7247 W Wellington Ave, Elmwood Park, IL

This home is located at 7247 W Wellington Ave, Elmwood Park, IL 60707 since 10 June 2023. This property was built in 1955. 7247 W Wellington Ave is a home located in Cook County with nearby schools including John Mills Elementary School, Elm Middle School, and Elmwood Park High School.

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