Seller's Agent in 2021
Marco Cesario
Jameson Commercial
(312) 315-7173
5 in this area
11 Total Sales
7542 S Colfax Ave Chicago, IL 60649
South Shore Neighborhood
9
Beds
3
Baths
--
Sq Ft
3,485
Sq Ft Lot
About This Home
As of December 20217452 S. Colfax is comprised of (3) 3bd 1ba units boasting approximately 1500 sf of living space. All of the units and building was completed renovated in 2016/2017. All of the in-unit improvements included, but limited to: Kitchen Cabinets, granite Counter Tops & Mosaic Tile Backsplashes, New Engineered Hardwood Floors, Brush Nickel Faucets. GE Appliances, Bathrooms, light fixtures, and ceiling fans. The capital improvements include, but not limited to: new electrical service with GFCI's, plumbing, new windows, HVAC, trim, doors, new porches (2021), and more! This fantastic 3-flat provides an investor the opportunity to acquire their first property or a seasoned investor who wants to add more units with low-density and grow their exiting portfolio. There are two CHA tenants currently in the renting, where CHA pays 100% of the rent. The third tenant is market. The current Gross Scheduled Rent income is $42,600, but in this listing, an estimated 5% vacancy/credit loss is taken into consideration which brings the Gross Operating Income to $40,470. The second option is to purchase this property as an owner-occupied buyer and take advantage of the rents from the other units to cover your mortgage and then some! **NOTE** This property can also be purchased with 7656 S. Colfax (same owner) MLS#1118340 . Call listing agent for more details on all opportunities.
Last Agent to Sell the Property
Jameson Commercial License #475142196 Listed on: 08/12/2021
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,407
Year Built
- Built in 1926 | Remodeled in 2017
Lot Details
- 3,485 Sq Ft Lot
- Lot Dimensions are 30' x 125'
Home Design
- Flat Roof Shape
- Brick Exterior Construction
- Brick Foundation
- Rubber Roof
- Concrete Perimeter Foundation
Bedrooms and Bathrooms
- 9 Bedrooms
- 9 Potential Bedrooms
- 3 Bathrooms
Unfinished Basement
- Basement Fills Entire Space Under The House
Parking
- 3 Parking Spaces
- Uncovered Parking
- Parking Space is Owned
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
- Lake Michigan Water
Community Details
Overview
- 3 Units
Building Details
- Electric Expense $260
- Insurance Expense $2,636
- Maintenance Expense $975
- Manager Expense $2,024
- Professional Management Expense $90
- Water Sewer Expense $1,650
- Gross Income $40,470
- Net Operating Income $25,448
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 12/31/2021 12/31/21 | Off Market | $350,000 | -- | -- | |
| 12/30/2021 12/30/21 | Sold | $350,000 | -17.6% | -- | |
| 10/28/2021 10/28/21 | Pending | -- | -- | -- | |
| 08/13/2021 08/13/21 | For Sale | $425,000 | +1064.4% | -- | |
| 09/30/2014 09/30/14 | Sold | $36,500 | -27.0% | -- | View Prior Sale |
| 08/23/2014 08/23/14 | Pending | -- | -- | -- | |
| 08/13/2014 08/13/14 | For Sale | $49,995 | -- | -- |
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 | $3,600 | $32,100 | $2,790 | $29,310 |
| 2024 | $3,600 | $32,100 | $2,790 | $29,310 |
| 2023 | $3,497 | $17,000 | $4,650 | $12,350 |
| 2022 | $3,497 | $17,000 | $4,650 | $12,350 |
| 2021 | $3,419 | $17,000 | $4,650 | $12,350 |
| 2020 | $5,407 | $24,273 | $3,348 | $20,925 |
| 2019 | $5,542 | $27,583 | $3,348 | $24,235 |
| 2018 | $5,449 | $27,583 | $3,348 | $24,235 |
| 2017 | $1,017 | $4,722 | $2,976 | $1,746 |
| 2016 | $4,094 | $20,440 | $2,976 | $17,464 |
| 2015 | $3,746 | $20,440 | $2,976 | $17,464 |
| 2014 | $3,252 | $20,096 | $2,604 | $17,492 |
| 2013 | $3,177 | $20,096 | $2,604 | $17,492 |
Source: Public Records
Agents Affiliated with this Home
-
Marco Cesario
-
G
Seller's Agent in 2014
Gerald Williams
Allpoints Realty Group Inc
-
Sunny Lamba
Buyer's Agent in 2014
Sunny Lamba
Publix Realty, Inc.
(773) 780-7717
3 in this area
111 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11188329
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Based on information submitted to the MLS GRID. 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.
Based on information submitted to the MLS GRID
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