NOT LISTED FOR SALE

7928 S Indiana Ave Chicago, IL 60619

Chatham Neighborhood
8 Beds
6 Baths
5,898 Sq Ft
6,534 Sq Ft Lot

Last Sold August 26, 2021

Last sale price $470,000 $80 Per Sq Ft

15 Days on Market

About This Home

As of August 2021

- 9.07% In-Place Cap Rate - Gross Income (w/ 5% vacancy): $62,928 - NOI: $43,537 Kiser Group is pleased to exclusively offer for purchase the sale of 7928 S. Indiana, a beautifully updated, six (6) unit building located in Chicago's historic Chatham neighborhood. Located on a quiet, tree-lined street, the building is conveniently situated just two (2) blocks from the 79th Red Line subway-transit stop, as well as easy access to I-94 and Chicago's downtown. 7928 S. Indiana is conveniently comprised of two (2) 2Bd/1Ba and four (4) 1Bd/1Ba units, all of which feature hardwood flooring throughout with separate living and dining rooms. Recent improvements to the building include, but are not limited to, updated kitchens and baths, recent masonry/tuckpointing work, newer windows, and updated/code compliant porches. 7928 S. Indiana presents an investor with the opportunity to acquire a stabilized, cash flowing asset in one of the South Side's most sought after neighborhood: Chatham. From day one, an investor will realize a cap rate over 9% and a cash return over 20%. However, by raising rents to levels already being achieved in the building and surrounding area, 7928 S. Indiana's next owner could achieve a cap rate of 10.3% and a cash return over 25%

Last Agent to Sell the Property

Aaron Sklar

Kiser Group Realty Inc License #475161507 Listed on: 03/17/2021

Co-Listed By

Noah Birk

Kiser Group Realty Inc License #475125864

Last Buyer's Agent

Aaron Sklar

Kiser Group Realty Inc License #475161507 Listed on: 03/17/2021

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,207

Year Built

  • Built in 1930

Lot Details

  • 6,534 Sq Ft Lot
  • Lot Dimensions are 40' x 160'

Interior Spaces

  • 3-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Utilities

  • Central Heating
  • Radiator

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 6 Units

Building Details

  • Electric Expense $487
  • Fuel Expense $636
  • Insurance Expense $2,400
  • Maintenance Expense $2,000
  • Manager Expense $3,146
  • Other Expense $750
  • Trash Expense $1,564
  • Water Sewer Expense $3,001
  • Operating Expense $19,391
  • Gross Income $66,240
  • Net Operating Income $43,537

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,207

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Corridor-Interior Entrance
  • Stories: 3
  • Year Built: 1930
  • Built Before 1978 (Y/N): Yes
  • Information: List Broker Must Accompany,48-Hr Notice Required,Non-Disclosure Agreement
  • Estimated Age: Older
  • ResoPropertyType: CommercialSale
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 6
  • Total Bedrooms: 8
  • Room: 0

Utilities

  • Heat/Ventilation: Central Bldg Heat,Radiators

Condo/Co-op/Association

  • Manager Expense: 3146

Fee Information

  • Trash Expense: 1564
  • Water Sewer Expenses: 3001

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.15
  • Lot Dimensions: 40' X 160'

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Multi Family

  • Net Operating Income: 43537
  • Fuel Expense: 636
  • Insurance Expense: 2400
  • ElectricExpense: 487
  • GrossIncome: 66240
  • Maintenance Expense: 2000
  • NumberOfUnitsTotal: 6
  • OperatingExpense: 19391
  • Type Multi-Family: Corridor-Interior Entrance

Tax Info

  • Tax Annual Amount: 4207
  • Tax Year: 2019

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

Property History

Date Event Price List to Sale Price per Sq Ft
08/26/2021 08/26/21 Sold $470,000 -2.1% $80 / Sq Ft
04/01/2021 04/01/21 Pending -- -- --
03/17/2021 03/17/21 For Sale $480,000 -- $81 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2021

    Aaron Sklar

    Kiser Group Realty Inc

    Section Image

  • N

    Seller Co-Listing Agent in 2021

    Noah Birk

    Kiser Group Realty Inc

    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11024972

Midwest Real Estate Data (MRED)

APN: 20341020290000

Illinois Cook County Chicago 60619 Chatham

7928 S Indiana Ave, Chicago, IL

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