NOT LISTED FOR SALE

7345 Archer Ave Summit, IL 60501

8 Beds
3 Baths
-- Sq Ft
3,485 Sq Ft Lot

Last Sold June 15, 2018

Last sale price $315,000

185 Days on Market

Highlights

  • 2 Car Detached Garage
  • Forced Air Heating System
  • Ceiling Fan
  • Argo Community High School Rated A-

About This Home

As of June 2018

Solid brick legal 3-flat with 2-car brick garage. Property in excellent condition. Large apartments and bedrooms with hardwood floors. Spacious, modern kitchens with huge dinettes. New windows in November 2017 (except living rooms). New roof in October 2017. Enclosed porches, additional storage in shed. Garden level with coin-op laundry. Circuit breakers, 3 central air conditioners, 3 hot water heaters and separate water meters, coin-op washer and dryer. Tenant pays all utilities. Huge monthly income and easy to rent; Lots of upside rent potential - similar 3-bedroom units nearby rent for $1100 - $1200. Expenses: Scavenger: $73/mo Insurance: $78/mo Taxes: $461/mo Serious buyers only. SOLD AS-IS.

Last Agent to Sell the Property

Robert Wessel

R. C. Wessel & Associates, Ltd License #471002351 Listed on: 11/06/2017

Last Buyer's Agent

Amy Kite

Keller Williams Infinity License #475132989

Keller Williams Infinity

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,536

Year Built

  • Built in 1955

Lot Details

  • 3,485 Sq Ft Lot
  • Lot Dimensions are 30 x 125

Parking

  • 2 Car Detached Garage
  • Parking Included in Price

Home Design

  • Brick Exterior Construction
  • Asphalt Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • Ceiling Fan
  • Finished Basement
  • Basement Fills Entire Space Under The House
  • Carbon Monoxide Detectors

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Potential Bedrooms
  • 3 Bathrooms

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Individual Controls for Heating
  • Lake Michigan Water

Listing and Financial Details

  • Homeowner Tax Exemptions

Community Details

Overview

  • 3 Units

Building Details

  • Gross Income $30,720
  • Net Operating Income $27,860

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,536

Year Built

Built in 1955

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1955
  • Age: 61-70 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: School Bus Service,Commuter Bus
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • ResoPropertyType: ResidentialIncome
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Total Bathrooms: 3
  • Total Bedrooms: 8
  • Other Equipment: CO Detectors, Ceiling Fan(s)
  • Basement Description: Finished
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Central Air Conditioner,Garage/Space
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Central Air Conditioner,Hardwood Floors
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Central Air Conditioner,Hardwood Floors

Exterior Features

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

Garage/Parking

  • Garage Spaces: 2
  • ParkingTotal: 2
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer, Sewer-Storm
  • Heating: Natural Gas, Forced Air, Indv Controls
  • Water Source: Lake Michigan, Public

Fee Information

  • Other Expenses $: 2860

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.08
  • Lot Dimensions: 30 X 125
  • Zoning: MULTI
  • Lot Size: .25-.49 Acre
  • Special Assessments: U

Rental Info

  • Board Number: 10
  • Is Parking Included in Price: Yes

Multi Family

  • Net Operating Income: 27860
  • GrossIncome: 30720
  • Units in Building: 3
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 3 Flat

Tax Info

  • Tax Annual Amount: 5536.08
  • Tax Year: 2016
  • Tax Exemptions: Homeowner
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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
06/15/2018 06/15/18 Sold $315,000 0.0% --
06/06/2018 06/06/18 Off Market $315,000 -- --
05/10/2018 05/10/18 Pending -- -- --
11/06/2017 11/06/17 For Sale $319,900 -- --
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 $11,212 $32,000 $2,675 $29,325
2024 $11,212 $32,000 $2,675 $29,325
2023 $8,509 $32,000 $2,675 $29,325
2022 $8,509 $19,721 $2,306 $17,415
2021 $8,280 $19,721 $2,306 $17,415
2020 $8,478 $19,721 $2,306 $17,415
2019 $8,251 $17,947 $2,121 $15,826
2018 $6,452 $17,947 $2,121 $15,826
2017 $6,470 $17,947 $2,121 $15,826
2016 $5,536 $14,219 $1,845 $12,374
2015 $6,042 $15,823 $1,845 $13,978
2014 $5,115 $15,823 $1,845 $13,978
2013 $5,630 $16,625 $1,845 $14,780
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 09794658

Midwest Real Estate Data (MRED)
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