Seller's Agent in 2023
David Thomas
Blue Door Dave Inc
(773) 301-7966
10 in this area
149 Total Sales
7550 S Kingston Ave Chicago, IL 60649
South Shore Neighborhood
34
Beds
29
Baths
--
Sq Ft
1920
Built
About This Home
As of December 2023This Beautiful 17 units features (3) 3bed 2bath Units (9) 2bed 2bath Units (3) 2bed 1bath Units (1) 1bed 1bath (1) Studio with 1bath apartment. The first 12 units are abnormally large with living room, dining room, plenty of closet space and a separate kitchen. Based on completion numbers, the property should generate $23,050/mo after renovation. Thats $276,600 per year. If you put in individual furnaces & individual hot water tanks, conservatively, you would have a back end value of $2.3 million with a cap rate of 9%. Property needs full gut renovation with plans and permits to be city compliant. Numbers are ProForma. Court case present, plans and permits required.
Last Agent to Sell the Property
Blue Door Dave Inc License #471020400 Listed on: 07/05/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $20,512
Year Built
- Built in 1920
Home Design
- Brick Exterior Construction
Interior Spaces
- 3-Story Property
- Storage Room
- Unfinished Basement
- Exterior Basement Entry
Bedrooms and Bathrooms
- 34 Bedrooms
- 29 Bathrooms
Additional Features
- Lot Dimensions are 100 x 125
- Heating System Uses Steam
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 17 Units
Building Details
- Electric Expense $1,200
- Insurance Expense $10,000
- Maintenance Expense $5,000
- Manager Expense $13,830
- Trash Expense $3,000
- Water Sewer Expense $6,000
- Operating Expense $65,542
- Gross Income $276,600
- Net Operating Income $211,058
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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 |
|---|---|---|---|---|
| 12/01/2023 12/01/23 | Sold | $450,000 | -10.0% | -- |
| 10/31/2023 10/31/23 | Pending | -- | -- | -- |
| 07/05/2023 07/05/23 | For Sale | $500,000 | -- | -- |
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 | $21,599 | $148,400 | $14,580 | $133,820 |
| 2024 | $21,599 | $148,400 | $14,580 | $133,820 |
| 2023 | $20,981 | $102,007 | $12,830 | $89,177 |
| 2022 | $20,981 | $102,007 | $12,830 | $89,177 |
| 2021 | $20,512 | $102,006 | $12,830 | $89,176 |
| 2020 | $19,864 | $89,168 | $12,830 | $76,338 |
| 2019 | $25,133 | $125,092 | $12,830 | $112,262 |
| 2018 | $24,710 | $125,092 | $12,830 | $112,262 |
| 2017 | $20,108 | $93,408 | $10,497 | $82,911 |
| 2016 | $18,709 | $93,408 | $10,497 | $82,911 |
| 2015 | $17,117 | $93,408 | $10,497 | $82,911 |
| 2014 | $13,986 | $75,380 | $8,748 | $66,632 |
| 2013 | $13,710 | $75,380 | $8,748 | $66,632 |
Source: Public Records
Agents Affiliated with this Home
-
David Thomas
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11822872
APN: 21303020160000
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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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