Lisa Magidson
North Clybourn Group, Inc.
(888) 367-2916
143 Total Sales
1 in South Shore
$55,000 Price
7816 S Cornell Ave Chicago, IL 60649
South Shore Neighborhood
62
Beds
31
Baths
--
Sq Ft
1921
Built
About This Home
As of June 2019Kiser Group is pleased to exclusively present for purchase, 7816 S. Cornell, a 31-unit courtyard building located in Chicago's historic South Shore neighborhood. 7816 S. Cornell is fully occupied and comprised entirely of 2Bd/1Ba units, all completely rehabbed in 2018. Each apartment features condo-quality finishes with stainless-steel appliances and granite counter-tops. The building has a brand new boiler(2018), newer windows, a newer roof, and newer electric as well as on-site laundry. 7816 S. Cornell presents an investor the opportunity to acquire a fully stabilized and cash-flowing asset. From day one, an investor will realize a cap rate of 9.23% and a cash-on-cash return of 17.58%. Through improved leasing and potentially raising rents to the highest market rates, 7816 S. Cornell's next owner has the opportunity to achieve a cap rate of 10.57% and a cash-on-cash return of 22.95%.
Last Agent to Sell the Property
Aaron Sklar
Kiser Group Realty Inc License #475161507 Listed on: 02/23/2019
Co-Listed By
Noah Birk
Kiser Group Realty Inc License #475125864
Last Buyer's Agent
Noah Birk
Kiser Group Realty Inc License #475125864
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $21,243
Year Built
- Built in 1921
Bedrooms and Bathrooms
- 62 Bedrooms
- 31 Bathrooms
Additional Features
- 3-Story Property
- Courtyard
- Lot Dimensions are 120 x 116
- Radiator
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 31 Units
Building Details
- Electric Expense $2,837
- Fuel Expense $27,900
- Insurance Expense $7,391
- Maintenance Expense $9,000
- Manager Expense $19,060
- Other Expense $3,000
- Trash Expense $2,400
- Water Sewer Expense $20,925
- Operating Expense $120,256
- Gross Income $401,268
- Net Operating Income $262,936
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
Closed on
Dec 1, 2025
Sold by
7816 S Cornell/Sd Llc
Bought by
Purchase Details
Listed on
Feb 23, 2019
Closed on
Jun 14, 2019
Sold by
Southside Property Group Llc
Bought by
7816 S Cornell Sd Llc
Seller's Agent
Aaron Sklar
Kiser Group Realty Inc
Buyer's Agent
Noah Birk
Kiser Group Realty Inc
List Price
$2,850,000
Sold Price
$2,727,000
Premium/Discount to List
-$123,000
-4.32%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,182,000
Interest Rate
4.66%
Mortgage Type
Construction
Purchase Details
Closed on
Oct 6, 2017
Sold by
Mcnaughton Ryan
Bought by
Southside Property Group Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,150,000
Interest Rate
4.5%
Mortgage Type
Construction
Purchase Details
Closed on
Sep 14, 2006
Sold by
7816 South Cornell Llc
Bought by
Chicago Title Land Trust Co and Trust #8002347230
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,063,000
Interest Rate
7.25%
Mortgage Type
Commercial
Purchase Details
Closed on
May 22, 2001
Sold by
Chicago Title Land Trust Company
Bought by
7816 South Cornell Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,340,000
Interest Rate
7.55%
Mortgage Type
Commercial
Purchase Details
Closed on
Mar 17, 2000
Sold by
Lasalle Bank National Assn
Bought by
Chicago Title Landtrust Company #1108301
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$512,000
Interest Rate
8.31%
Mortgage Type
Commercial
Home Values in the Area
Average Home Value in this Area
Agents Specializing in South Shore, IL
-
Lisa Magidson
-
Marsha Green
Marsha Green
Real People Realty
(708) 934-0761
86 Total Sales
2 in South Shore
$140K - $228K Price Range
-
Melanie Miller
Melanie Miller
Keller Williams ONEChicago
(312) 779-6603
198 Total Sales
12 in South Shore
$167K - $560K Price Range
-
Tina Hollins
Tina Hollins
Coldwell Banker Realty
(773) 570-2696
147 Total Sales
2 in South Shore
$295K - $605K Price Range
-
Tanesha Pratt
Tanesha Pratt
Coldwell Banker Realty
(630) 895-7761
73 Total Sales
1 in South Shore
$255,000 Price
-
Michael Kozuchowski
Michael Kozuchowski
Century 21 S.G.R., Inc.
(872) 250-5498
55 Total Sales
1 in South Shore
$325,000 Price
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 |
|---|---|---|---|
| $2,530,000 | Chicago Title | ||
| 7816 S Cornell Sd Llc | $2,727,000 | Prairie Title | |
| Southside Property Group Llc | $675,000 | Near North National Title | |
| Chicago Title Land Trust Co | $1,100,000 | Stewart Title | |
| 7816 South Cornell Llc | $837,500 | -- | |
| Chicago Title Landtrust Company #1108301 | $670,000 | -- |
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 |
|---|---|---|---|
| Previous Owner | $2,182,000 | ||
| Previous Owner | Southside Property Group Llc | $1,150,000 | |
| Previous Owner | Chicago Title Land Trust Co | $1,063,000 | |
| Previous Owner | 7816 South Cornell Llc | $1,340,000 | |
| Previous Owner | Chicago Title Landtrust Company #1108301 | $512,000 |
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 |
|---|---|---|---|---|
| 09/15/2019 09/15/19 | Off Market | $2,727,000 | -- | -- |
| 06/14/2019 06/14/19 | Sold | $2,727,000 | -4.3% | -- |
| 03/27/2019 03/27/19 | Pending | -- | -- | -- |
| 02/23/2019 02/23/19 | For Sale | $2,850,000 | -- | -- |
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 | $37,374 | $185,448 | $17,700 | $167,748 |
| 2024 | $30,500 | $185,448 | $17,700 | $167,748 |
| 2023 | $29,627 | $144,040 | $12,744 | $131,296 |
| 2022 | $29,627 | $144,040 | $12,744 | $131,296 |
| 2021 | $28,965 | $144,040 | $12,744 | $131,296 |
| 2020 | $26,117 | $117,240 | $12,744 | $104,496 |
| 2019 | $23,555 | $117,240 | $12,744 | $104,496 |
| 2018 | $13,334 | $67,500 | $12,744 | $54,756 |
| 2017 | $21,243 | $98,679 | $10,620 | $88,059 |
| 2016 | $16,572 | $82,740 | $10,620 | $72,120 |
| 2015 | $13,744 | $75,001 | $10,620 | $64,381 |
| 2014 | $16,924 | $91,213 | $10,620 | $80,593 |
| 2013 | $14,346 | $78,880 | $10,620 | $68,260 |
Source: Public Records
Agents Affiliated with this Home
-
AS
Seller's Agent in 2019
Aaron Sklar
Kiser Group Realty Inc
-
NB
Seller Co-Listing Agent in 2019
Noah Birk
Kiser Group Realty Inc
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 10291987
APN: 20253240230000
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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