A
Seller's Agent in 2024
Aaron Sklar
Kiser Group Realty Inc
7363 S Coles Ave Chicago, IL 60649
South Shore Neighborhood
18
Beds
18
Baths
--
Sq Ft
1923
Built
About This Home
As of September 20247363 S. Coles is an incredibly Beautiful (9) unit property located in Chicago's South Shore neighborhood. Right off of Lake Michigan and Rainbow Beach Park, the building sits within walking distance of an abundance of public transportation options. Additionally, for quick and convenient transportation, the asset is nearby to Chicago's Lake Shore Drive which provides tenants easy access to Chicago's downtown in roughly fifteen minutes. 7363 S. Coles is currently comprised of nine (9) spacious 2b/1ba units. All units feature hardwood flooring throughout as well as updated tiling and fixtures in the bathroom. Furthermore, additional improvements to the building consist of but are not limited to, updated electric, an updated and newly coated roof, and laundry available to all tenants. Given the location and quality of the units, there is an incredibly large demand for apartments such as these. 7363 S. Coles presents an investor with a unique opportunity to acquire a strong, positive cash-flowing building with an in-place cap rate of over 8.2%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could further improve cash returns.
Last Agent to Sell the Property
Aaron Sklar
Kiser Group Realty Inc License #475161507 Listed on: 02/21/2024
Co-Listed By
Noah Birk
Kiser Group Realty Inc License #475125864
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $10,490
Year Built
- Built in 1923
Home Design
- Garden Apartment
Bedrooms and Bathrooms
- 18 Bedrooms
- 18 Bathrooms
Additional Features
- 3-Story Property
- Lot Dimensions are 55' x 110'
- Radiator
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 9 Units
Building Details
- Electric Expense $1,200
- Fuel Expense $12,000
- Insurance Expense $5,922
- Maintenance Expense $2,500
- Manager Expense $6,299
- Other Expense $2,500
- Trash Expense $1,500
- Water Sewer Expense $4,000
- Operating Expense $48,411
- Gross Income $132,600
- Net Operating Income $80,059
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 21, 2024
Closed on
Sep 13, 2024
Sold by
Bought by
Seller's Agent
Aaron Sklar
Kiser Group Realty Inc
Buyer's Agent
Lavisse Smith
Oliveros Realty Company
List Price
$975,000
Sold Price
$873,000
Premium/Discount to List
-$102,000
-10.46%
Views
97
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$632,370
Interest Rate
0.065%
Mortgage Type
Credit Line Revolving
Purchase Details
Closed on
Nov 1, 2002
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$355,000
Interest Rate
0.0725%
Mortgage Type
Commercial
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $873,000 | Citywide Title | ||
| $460,000 | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $632,370 | ||
| Previous Owner | $355,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/13/2024 09/13/24 | Sold | $873,000 | -10.5% | -- |
| 06/21/2024 06/21/24 | Pending | -- | -- | -- |
| 02/21/2024 02/21/24 | For Sale | $975,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $10,800 | $74,201 | $7,563 | $66,638 |
| 2024 | $10,800 | $74,201 | $7,563 | $66,638 |
| 2023 | $10,490 | $51,004 | $5,445 | $45,559 |
| 2022 | $10,490 | $51,004 | $5,445 | $45,559 |
| 2021 | $10,256 | $51,003 | $5,445 | $45,558 |
| 2020 | $10,355 | $46,484 | $5,445 | $41,039 |
| 2019 | $9,339 | $46,484 | $5,445 | $41,039 |
| 2018 | $7,293 | $36,922 | $5,445 | $31,477 |
| 2017 | $8,073 | $37,500 | $4,537 | $32,963 |
| 2016 | $8,026 | $40,072 | $4,537 | $35,535 |
| 2015 | $7,343 | $40,072 | $4,537 | $35,535 |
| 2014 | $7,596 | $40,940 | $4,537 | $36,403 |
| 2013 | $7,446 | $40,940 | $4,537 | $36,403 |
Source: Public Records
Agents Affiliated with this Home
-
-
N
Seller Co-Listing Agent in 2024
Noah Birk
Kiser Group Realty Inc
-
Lavisse Smith
Buyer's Agent in 2024
Lavisse Smith
Oliveros Realty Company
(630) 404-7464
1 in this area
2 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11986316
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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