$400,000
SOLD DEC 20, 2024
45 Beds
24 Baths
-- Sq Ft
0.26 Acres

Recently Sold

93% Below List Price

187 Days on Market

Highlights

  • 11,484 Sq Ft lot
  • Central Heating and Cooling System
  • 3-minute walk to Cheltenham Station

About This Home

As of December 2024

****THIS BUILDING IS PART OF AN REO PORTFOLIO SALE AND INCLUDES 5 BUILDINGS (118 TOTAL UNITS): (1) 8100-8110 S Paulina St, Chicago IL 60620, (2) 8200 S Paulina St, Chicago IL 60620, (3) 8102 S Maryland Ave, Chicago IL 60619, (4) 7157 S Yale Ave, Chicago IL 60621, (5) 7849 S Escanaba Ave, Chicago IL 60617.******/// 7849 S Escanaba Ave is a 24-unit building in Chicago's South-Lakefront South Shore neighborhood. Property is also located in TIF district. This property has a unit mix of six (6) storefronts, twelve (12) one bed/one bath units, three (3) two bed/one bath units, and nine (9) 3 bed/1 bath units. This beautiful masonry building will require moderate renovation. Built in 1930 and boasting 27,000 sq ft of space, 7849 S Escanaba Ave offers a unique opportunity to contribute to the continued enrichment of the South Shore neighborhood.

Last Agent to Sell the Property

Steve Kehoe

Compass License #475170862 Listed on: 03/19/2024

Compass

Last Buyer's Agent

Steve Kehoe

Compass License #475170862 Listed on: 03/19/2024

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,120

Year Built

  • Built in 1930

Lot Details

  • 0.26 Acre Lot
  • Lot Dimensions are 127' x 87'

Interior Spaces

  • 4-Story Property

Bedrooms and Bathrooms

  • 45 Bedrooms
  • 24 Bathrooms

Utilities

  • Central Heating and Cooling System
  • 200+ Amp Service

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 30 Units

Building Details

  • Electric Expense $3,000
  • Fuel Expense $5,400
  • Insurance Expense $10,000
  • Maintenance Expense $11,000
  • Manager Expense $12,065
  • Trash Expense $1,800
  • Water Sewer Expense $7,500
  • Operating Expense $59,765
  • Gross Income $342,000
  • Net Operating Income $270,284

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,120

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Other
  • Stories: 4
  • Year Built: 1930
  • Built Before 1978 (Y/N): Yes
  • Information: REO/Lender Owned
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 24
  • Total Bedrooms: 45
  • Fire Protection: Other
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • List Price: 5500000

Utilities

  • Cooling: Central Individual
  • Electric: Over 600 Amps
  • Heat/Ventilation: Central Heat/Indiv Controls

Condo/Co-op/Association

  • Manager Expense: 12065

Fee Information

  • Trash Expense: 1800
  • Water Sewer Expenses: 7500
  • Janitor Expense: 9000

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 127' X 87'
  • Lot Size Sq Ft: 11484

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Multi Family

  • Net Operating Income: 270284
  • Fuel Expense: 5400
  • Insurance Expense: 10000
  • ElectricExpense: 3000
  • GrossIncome: 342000
  • Maintenance Expense: 11000
  • NumberOfUnitsTotal: 30
  • OperatingExpense: 59765
  • Type Multi-Family: Other

Tax Info

  • Tax Annual Amount: 7120
  • Tax Year: 2023

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 19, 2024
Closed on
Dec 16, 2024
Sold by
Caf Bridge Reo Borrower Ax Llc
Bought by
Escanaba Exchange Apartments Llc
Seller's Agent
Steve Kehoe
Compass
Buyer's Agent
Steve Kehoe
Compass
List Price
$5,500,000
Sold Price
$400,000
Premium/Discount to List
-$5,100,000
-92.73%
Views
75
Current Estimated Value
$419,256

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$19,256
Avg. Annual Appreciation
0.56%

Purchase Details

Closed on
Feb 12, 2024
Sold by
Caf Reo-2 Llc
Bought by
Caf Bridge Reo Borrower Ax Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$247,500
Interest Rate
7.17%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 5, 2023
Sold by
Judicial Sales Corporation
Bought by
Caf Reo-2 Llc

Purchase Details

Closed on
Jan 27, 2021
Sold by
Inner City Projects Llc
Bought by
7855 S Escanaba Investment Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,452,500
Interest Rate
2.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 20, 2021
Sold by
Moher Properties Fund Iii Llc
Bought by
Inner City Projects Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,452,500
Interest Rate
2.7%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 27, 2018
Sold by
Jw Legacy Llc
Bought by
Moher Properties Fund Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,067,000
Interest Rate
4.9%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 9, 2017
Sold by
First Midwest Bank
Bought by
Jw Legacy Llc

Purchase Details

Closed on
Dec 21, 2004
Sold by
Chicago Title Land Trust Co
Bought by
Standard Bank & Trust and Trust #18601

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,435,000
Interest Rate
5.82%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 12, 2004
Sold by
Harris Trust & Savings Bank
Bought by
Chicago Title Trust Trust #1113461

Purchase Details

Closed on
Mar 18, 2004
Sold by
Chicago Vietnam Veterans & Family Assist
Bought by
Harris Trust & Savings Bank and Trust #Htb 1460

Purchase Details

Closed on
Dec 20, 1995
Sold by
Harris Bank Glencoe Northbrook Na
Bought by
Chicago Vietnam Veterans & Family Assist
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Special Warranty Deed $400,000 Fidelity National Title
Quit Claim Deed -- None Listed On Document
Trustee Deed -- None Listed On Document
Warranty Deed $2,075,000 Chicago Title
Warranty Deed $1,250,000 Chicago Title
Special Warranty Deed $2,800,000 Attorneys Title Guaranty Fun
Deed -- None Available
Deed $770,000 --
Deed $700,000 Lawyers
Warranty Deed $268,000 Lawyers
Trustee Deed -- Republic Title Company
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $247,500 New Conventional
Previous Owner $1,452,500 Commercial
Previous Owner $1,281,673 Commercial
Previous Owner $900,000 Future Advance Clause Open End Mortgage
Previous Owner $2,067,000 Commercial
Previous Owner $5,656,750 Commercial
Previous Owner $340,420 Commercial
Previous Owner $1,435,000 Commercial
Previous Owner $50,000 Commercial
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/20/2024 12/20/24 Sold $400,000 0.0% --
12/19/2024 12/19/24 Off Market $400,000 -- --
09/24/2024 09/24/24 Pending -- -- --
03/20/2024 03/20/24 For Sale $5,500,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

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
2024 $7,120 $238,100 $1,723 $236,377
2023 $6,916 $33,628 $1,550 $32,078
2022 $6,916 $33,628 $1,550 $32,078
2021 $6,762 $33,627 $1,550 $32,077
2020 $5,241 $23,525 $1,550 $21,975
2019 $4,726 $23,525 $1,550 $21,975
2018 $5,263 $23,525 $1,550 $21,975
2017 $4,467 $18,446 $1,291 $17,155
2016 $4,179 $18,446 $1,291 $17,155
2015 $3,860 $18,446 $1,291 $17,155
2014 $2,656 $12,531 $1,291 $11,240
2013 $2,605 $12,531 $1,291 $11,240
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 12007910

Midwest Real Estate Data (MRED)

APN: 21-30-409-007-0000