NOT LISTED FOR SALE

7840 S Phillips Ave Chicago, IL 60649

South Shore Neighborhood
9 Beds
3 Baths
-- Sq Ft
1924 Built

Last Sold April 30, 2021

Last sale price $405,000

28 Days on Market

Highlights

  • Fenced Yard
  • Garage ceiling height seven feet or more
  • Ceiling Fan
  • 3 Car Detached Garage
  • Forced Air Heating System
  • Paved or Partially Paved Lot

About This Home

As of April 2021

Positive cash flow in HOT south shore area. Well maintained brick 3-flat. Gut rehabbed in 2013 and fully rented with 3 long-term tenants. FL1 tenant since Aug 2015. FLoors 2, 3 since Oct 2017 and April 2018. Rents have not been raised and can be higher. Full rehab included new plumbing / electrical, new individual HVAC units in each unit, new hot water heaters, new windows, new roof, new kitchens, baths were updated. Each unit is spacious and includes refinished hardwood floors throughout and separate living and dining areas. Original trim-work was kept in the units and refinished and stained, adding character to the units. This includes the original 1924 refinished and stained hallway cabinets. The building has a Coin-op Laundry in the basement for additional monthly income, a steel back porch and a 3 car garage. The property is securely fenced and security cameras surround the building, providing peace of mind for the tenants (and the landlord). Basement was more than 1/2 finished for 3 bedrooms -- a potential 4th unit for future income. This is a true money-making opportunity for the savvy investor!!!

Last Agent to Sell the Property

Noel Baker

HomeSmart Connect LLC License #475129174 Listed on: 12/18/2020

HomeSmart Connect LLC

Last Buyer's Agent

Brittney Wilkinson

Realty of America, LLC License #475177348

Realty of America, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,922

Year Built

  • Built in 1924 | Remodeled in 2013

Lot Details

  • Fenced Yard
  • Paved or Partially Paved Lot

Parking

  • 3 Car Detached Garage
  • Garage ceiling height seven feet or more
  • Garage Transmitter
  • Garage Door Opener
  • Parking Included in Price

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction
  • Concrete Perimeter Foundation

Interior Spaces

  • Ceiling Fan
  • Carbon Monoxide Detectors

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 9 Potential Bedrooms
  • 3 Bathrooms

Partially Finished Basement

  • Basement Fills Entire Space Under The House
  • Sump Pump

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas

Community Details

Overview

  • 3 Units
  • 3 Flat

Building Details

  • Gross Income $34,308

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,922

Year Built

Built in 1924 | Remodeled in 2013

Lot Details

0

Parking

3

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • ArchitecturalStyle: Other
  • New Construction: No
  • Year Built: 1924
  • Age: 91-100 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2013
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2013

Interior Features

  • Basement: Full
  • Total Bathrooms: 3
  • Total Bedrooms: 9
  • Other Equipment: CO Detectors, Ceiling Fan(s), Sump Pump
  • Basement Description: Partially Finished
  • Below Grade Bedrooms: 0
  • Full Bathrooms in Building: 3
  • Half Bathrooms in Building: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Range Hood,Hardwood Floors,Walk-In Closet
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Range Hood,Hardwood Floors,Walk-In Closet
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Range Hood,Hardwood Floors,Walk-In Closet

Exterior Features

  • Foundation Details: Concrete Perimeter
  • List Price: 389900
  • Lot Features: Fenced Yard
  • Roof: Flat
  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • Garage Spaces: 3
  • ParkingTotal: 3
  • Garage Details: Garage Door Opener(s),Transmitter(s),7 Foot or more high garage door
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage

Utilities

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

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks, Street Lights, Street Paved

Schools

  • Middle/Junior School District: 299

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 3720
  • Zoning: MULTI
  • Lot Size: Oversized Chicago Lot
  • Special Assessments: N

Rental Info

  • Board Number: 8
  • Is Parking Included in Price: Yes

Multi Family

  • GrossIncome: 34308
  • Units in Building: 3
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 3 Flat

Tax Info

  • Tax Annual Amount: 3921.58
  • Tax Year: 2019
  • Tax Exemptions: None

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 Change Sq Ft Price
04/30/2021 04/30/21 Sold $405,000 +3.9% --
01/15/2021 01/15/21 Pending -- -- --
01/11/2021 01/11/21 For Sale $389,900 0.0% --
12/23/2020 12/23/20 Pending -- -- --
12/18/2020 12/18/20 For Sale $389,900 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Noel Baker

    Seller's Agent in 2021

    Noel Baker

    The McDonald Group

    (847) 530-6253

    1 in this area

    14 Total Sales

    Section Image
  • Brittney Wilkinson

    Buyer's Agent in 2021

    Brittney Wilkinson

    Realty of America, LLC

    (708) 983-4714

    2 in this area

    30 Total Sales

    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 10956769

Midwest Real Estate Data (MRED)

Illinois Cook County Chicago 60649 South Shore

7840 S Phillips Ave, Chicago, IL

This home is located at 7840 S Phillips Ave, Chicago, IL 60649 since 18 December 2020. This property was built in 1924. 7840 S Phillips Ave is a home located in Cook County with nearby schools including Bradwell Community Arts & Sci Elementary School and Great Lakes Academy.

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