NOT LISTED FOR SALE

7925 S Phillips Ave Chicago, IL 60617

South Chicago Neighborhood

Estimated Value: $137,051 - $198,000

13 Beds
26 Baths
-- Sq Ft
2,134 Sq Ft

Last Sold January 27, 2016

Last sale price $450,000

Current estimated payment $880/month

39 Days on Market

About This Home

As of January 2016

AMAZING OPPORTUNITY TO OWN AN OPERATING 26 UNIT BUILDING AT A TRUE 17% CAP RATE. THIS 26 UNIT BUILDING FEATURES 13 ONE BEDROOM UNITS ,13 LARGE STUDIOS , AND 26 PARKING SPACES. LANDLORD PAID HEAT AND COOKING GAS KEEPS THIS UNIQUE PROPERTY AT OVER 95% OCCUPANCY WITH MANY LONG TERM TENANTS. NOI $86,000 WITH NUMBERS RAN AT 20% VACANCY. THIS IS THE BEST DEAL ON THE MARKET IN THE SOUTH SHORE AREA!

Last Agent to Sell the Property

Michael Tolliver

Atlas Asset Management Realty LLC License #471012301 Listed on: 10/23/2015

Last Buyer's Agent

Michael Tolliver

Atlas Asset Management Realty LLC License #471012301 Listed on: 10/23/2015

Property Details

Home Type

  • Multi-Family

Year Built

  • 1960

Lot Details

  • 2,134

Home Design

  • Brick Exterior Construction

Community Details

  • Fuel Expense $20,917
  • Insurance Expense $2,863

Listing and Financial Details

  • Tenant pays for electric

Property Details

Home Type

Multi-Family

Year Built

1960

Lot Details

2,134 Sq Ft Lot

Listing Details

  • Property Type: Multi Family 5+
  • Built Before 1978 (Y/N): Yes
  • Zoning Type: MULTI
  • Estimated Age: 36-50 Years
  • Net Operating Income Year: 2014
  • Net Oper Income: 86870
  • Repairs Decor Expense: 10000
  • Scavenger Expense: 3140
  • Total Annual Exp: 77830
  • Total Annual Income: 164700
  • Total Monthly Income: 13725
  • Number Of Stories: 2
  • Estimated Year Built: 1960
  • Type Multi Family: Garden Complex
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2
  • Year Built: 1960

Exterior Features

  • Exterior Building Type: Brick

Garage/Parking

  • Number Of Parking Spaces: 26

Utilities

  • Heatventilation: Central Bldg Heat
  • Water Expense: 8772

Condo/Co-op/Association

  • Units in Building: 26

Fee Information

  • Electricity Expense: 938
  • Janitor Expense: 1200

Lot Info

  • Lot Dimensions: 20200
  • Parcel Identification Number: 21311010050000

Rental Info

  • Gross Rental Income: 164700
  • Tenant Pays: Electric

Multi Family

  • Expense Year: 2014
  • Fuel Expense: 20917
  • Insurance Expense: 2863
  • Other Expenses: 30000

Tax Info

  • Taxes: 11196

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 2, 2024
Sold by
Peterson Tracy A
Bought by
Jones Jessica
Current Estimated Value
$157,513

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$108,000
Outstanding Balance
$106,410
Interest Rate
5.88%
Mortgage Type
New Conventional
Estimated Equity
$51,103

Purchase Details

Closed on
Nov 9, 2022
Sold by
Addo Alice
Bought by
Addo Alice and Peterson Tracy A

Purchase Details

Closed on
Apr 21, 1999
Sold by
Hud
Bought by
Addo Alice R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$72,350
Interest Rate
7.04%
Mortgage Type
FHA
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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 Buyer Sale Price Title Company
Jones Jessica $135,000 None Listed On Document
Addo Alice -- None Listed On Document
Addo Alice R -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Jones Jessica $108,000
Previous Owner Addo Alice R $72,350
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/27/2016 01/27/16 Sold $450,000 -9.8% --
12/01/2015 12/01/15 Pending -- -- --
10/23/2015 10/23/15 For Sale $499,000 -- --
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 $851 $11,901 $1,601 $10,300
2024 $851 $11,901 $1,601 $10,300
2023 $791 $10,000 $2,134 $7,866
2022 $791 $10,000 $2,134 $7,866
2021 $662 $10,000 $2,134 $7,866
2020 $684 $12,171 $2,134 $10,037
2019 $681 $13,524 $2,134 $11,390
2018 $671 $13,524 $2,134 $11,390
2017 $719 $12,266 $1,920 $10,346
2016 $1,135 $12,266 $1,920 $10,346
2015 $1,091 $12,266 $1,920 $10,346
2014 $1,082 $10,477 $1,493 $8,984
2013 $1,427 $10,477 $1,493 $8,984
Source: Public Records

Agents Affiliated with this Home

  • Michael Tolliver

    Seller's Agent in 2016

    Michael Tolliver

    Atlas Asset Management Realty LLC

    (312) 617-8095

    22 Total Sales

    Michael Tolliver
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: MRD09071424

Midwest Real Estate Data (MRED)

APN: 21-31-100-046-0000

Illinois Cook County Chicago 60617 South Chicago

7925 S Phillips Ave, Chicago, IL

Not Listed for Sale

MultiFamily

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.

Midwest Real Estate Data (MRED) 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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