NOT LISTED FOR SALE

7448 S Cottage Grove Ave Chicago, IL 60619

Park Manor Neighborhood
8 Beds
4 Baths
-- Sq Ft
1920 Built

Last Sold November 28, 2022

Last sale price $244,900

58 Days on Market

About This Home

As of November 2022

7448 S. Cottage Grove, originally a 2-unit mixed-use property (Retail + residential up) was long ago converted to 100% residential use and is composed of 2 jumbo 4BR/2BA apartments that generate $30,336 in annual income, with an in-place cap rate of 9%. These apartments are BIG and this operator fully renovated the building several years ago shifting the utility burden to the tenants, which means very low operating expenses! Hungry? There's plenty of restaurant options along 75th St. & Cottage Grove. Need to get downtown? The CTA #4 Bus is right out front and the Metra Cottage Grove station is only a short walk. Need to get out of Dodge? The Chicago Skyway is just down the block. Considering early retirement? Leak & Sons funeral home is around the corner and a short hearse ride down Cottage! Please note: The asset is being sold as part of a larger 7 building 58-unit package. Please check under the Additional Information tab. PROPERTIES ARE AVAILABLE INDIVIDUALLY!

Last Agent to Sell the Property

Scott Siegel

Chicago Real Estate Authority License #471011328 Listed on: 08/23/2022

Last Buyer's Agent

Elijah Reese

Serene Realty, Inc. License #471019825

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,833

Year Built

  • Built in 1920 | Remodeled in 2005

Home Design

  • Brick Exterior Construction

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Potential Bedrooms
  • 4 Bathrooms

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Lake Michigan Water

Additional Features

  • Basement Fills Entire Space Under The House
  • Lot Dimensions are 25 x 125

Community Details

Overview

  • 2 Units

Building Details

  • Water Sewer Expense $2,100
  • Gross Income $30,336
  • Net Operating Income $22,874

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,833

Year Built

Built in 1920 | Remodeled in 2005

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1920
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2005
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2005

Interior Features

  • Basement: Full
  • Total Bathrooms: 4
  • Total Bedrooms: 8
  • Basement Description: Finished
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 4
  • Half Bathrooms in Building: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Dishwasher
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Dishwasher

Exterior Features

  • List Price: 244900
  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • Number of Cars: 0
  • Parking: None

Utilities

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

Fee Information

  • Water Sewer Expenses: 2100

Schools

  • Middle/Junior School District: 299

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 25 X 125
  • Zoning: COMMR
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 8

Multi Family

  • Net Operating Income: 22874
  • GrossIncome: 30336
  • Units in Building: 2
  • Three Bedroom Number of Units: No
  • Type-Multi: 2 Flat

Tax Info

  • Tax Annual Amount: 2833
  • Tax Year: 2020

Range of Values:

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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
11/28/2022 11/28/22 Sold $244,900 0.0% --
10/21/2022 10/21/22 Pending -- -- --
10/19/2022 10/19/22 For Sale $244,900 0.0% --
10/03/2022 10/03/22 Pending -- -- --
08/23/2022 08/23/22 For Sale $244,900 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11611326

Midwest Real Estate Data (MRED)