D
Seller's Agent in 2024
D'Andre Daye
eXp Realty
(888) 574-9405
4 in this area
62 Total Sales
8000 S Phillips Ave Unit 2N Chicago, IL 60617
South Chicago NeighborhoodEstimated Value: $83,000 - $115,249
3
Beds
2
Baths
1,700
Sq Ft
$350/mo
HOA Fee
Highlights
- Wood Flooring
- Laundry Room
- Family Room
- Den
- Combination Dining and Living Room
- 4-minute walk to Eckersall (Walter Herbert) Park
About This Home
As of October 2024Unmatched Investment Opportunity: 3-Bed/2-Bath Condo in South Shore - Cash Investors Take Note! + $5,000 seller concession! Welcome to 8000 S Phillips Ave Unit 2N, Chicago, IL 60617-a premier investment in the rapidly appreciating South Shore neighborhood. This expansive 3-bedroom, 2-bathroom condo spans approximately 1,700 sq ft, offering a bright, open layout with high ceilings and gleaming hardwood floors, making it a perfect candidate for immediate cash flow. Currently tenant-occupied at $1,300/month and is current, this property is a turnkey opportunity for savvy investors. The condo features a spacious master suite, two modern bathrooms, a sunlit living and dining area, and a kitchen outfitted with stainless steel appliances and granite countertops. In addition, the owners are proactively installing a new central air condenser, ensuring the AC remains in peak condition for years to come-an added value for any future owner. Now, let's address the financial details that make this property a standout for the right buyer: The homeowners' association (HOA) has extremely limited reserves, with uncertainties surrounding the actual reserve balance. The 2024 budget indicates a $4,000 reserve, yet conflicting documents reveal an undated figure of "-10,000," raising questions about a potential negative balance. The final figures for the reserves remain unclear. Additionally, the HOA appears to be inactive and not in good standing with the Secretary of State, meaning this is strictly an all-cash transaction. Moreover, the 2024 annual meeting minutes suggest a $21,000 garage repair is on the horizon, likely requiring a special assessment. Whether this cost will be spread among all condo owners or only those with garage units remains unclear, making this an opportunity for investors with the financial capacity to manage potential future expenses. Despite these uncertainties, this condo is priced well below market value, presenting an incredible opportunity for significant appreciation. Positioned minutes from Lake Michigan, the soon-to-be-completed Obama Presidential Library, and a host of local amenities, this property is primed for growth. With minor upgrades, the rental potential could easily rise to $1,600/month, driving even more impressive returns. For the seasoned investor who can see the potential beyond the surface, this is a rare and lucrative opportunity. The property is sold "as is, where is," making this a straightforward transaction for those ready to capitalize on the untapped potential. **Seller also will be providing a $5000 concession to an end buyer**
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $502
Year Built
- Built in 1924
Lot Details
- 8,668
HOA Fees
- $350 Monthly HOA Fees
Parking
- Parking Included in Price
Home Design
- Brick Exterior Construction
Interior Spaces
- 1,700 Sq Ft Home
- 3-Story Property
- Family Room
- Combination Dining and Living Room
- Den
- Laundry Room
Kitchen
- Range
- Microwave
Flooring
- Wood
- Ceramic Tile
- Vinyl
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Potential Bedrooms
- 2 Full Bathrooms
Utilities
- No Cooling
- Heating System Uses Natural Gas
- Lake Michigan Water
Community Details
Overview
- 6 Units
Amenities
- Laundry Facilities
Pet Policy
- No Pets Allowed
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Mar 24, 2025
Sold by
Nguyen Kim
Bought by
Nguyen Chicago Realty Llc
Current Estimated Value
Purchase Details
Listed on
Jun 21, 2024
Closed on
Oct 8, 2024
Sold by
Rg Super Investments Pty Ltd and Aft Rg Superannuation Fund
Bought by
Nguyen Kim
Seller's Agent
D'Andre Daye
eXp Realty
Buyer's Agent
Daniel Ellington
Infiniti Properties, Inc.
List Price
$75,000
Sold Price
$90,000
Premium/Discount to List
$15,000
20%
Views
266
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.96%
Purchase Details
Closed on
Mar 29, 2012
Sold by
Glacier International Consulting Corpora
Bought by
Rg Super Investments Pty Ltd Atf Rg Supe
Purchase Details
Closed on
Jan 17, 2011
Sold by
Glacier International Consulting Corpora
Bought by
Glacier International Consulting Corpora and Dmi Real Estate Group Llc
Purchase Details
Closed on
Nov 30, 2010
Sold by
State Farm Bank
Bought by
Glacier International Consulting Corpora
Purchase Details
Closed on
Jul 6, 2010
Sold by
Hill Joseph
Bought by
State Farm Bank Fsb
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Nguyen Chicago Realty Llc | -- | Stewart Title Guaranty Company | |
| Nguyen Kim | $90,000 | None Listed On Document | |
| Rg Super Investments Pty Ltd Atf Rg Supe | $60,000 | Gmt | |
| Glacier International Consulting Corpora | -- | Fidelity Natl Title Ins Co | |
| Glacier International Consulting Corpora | $31,000 | Fidelity Natl Title Ins Co | |
| State Farm Bank Fsb | -- | None Available |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/23/2024 10/23/24 | Sold | $90,000 | +20.0% | $53 / Sq Ft |
| 09/24/2024 09/24/24 | Pending | -- | -- | -- |
| 07/26/2024 07/26/24 | For Sale | $75,000 | 0.0% | $44 / Sq Ft |
| 07/08/2024 07/08/24 | Pending | -- | -- | -- |
| 06/23/2024 06/23/24 | For Sale | $75,000 | 0.0% | $44 / Sq Ft |
| 11/03/2023 11/03/23 | Rented | $1,300 | 0.0% | -- |
| 10/18/2023 10/18/23 | Under Contract | -- | -- | -- |
| 09/19/2023 09/19/23 | For Rent | $1,300 | +4.0% | -- |
| 12/01/2022 12/01/22 | Rented | $1,250 | 0.0% | -- |
| 11/08/2022 11/08/22 | For Rent | $1,250 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
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 | $527 | $6,826 | $951 | $5,875 |
| 2023 | $514 | $2,500 | $1,250 | $1,250 |
| 2022 | $514 | $2,500 | $1,250 | $1,250 |
| 2021 | $502 | $2,498 | $1,249 | $1,249 |
| 2020 | $1,995 | $8,957 | $1,267 | $7,690 |
| 2019 | $2,249 | $11,196 | $1,267 | $9,929 |
| 2018 | $2,764 | $13,995 | $1,267 | $12,728 |
| 2017 | $2,742 | $12,736 | $1,140 | $11,596 |
| 2016 | $2,551 | $12,736 | $1,140 | $11,596 |
| 2015 | $2,334 | $12,736 | $1,140 | $11,596 |
| 2014 | $2,314 | $12,473 | $855 | $11,618 |
| 2013 | $2,269 | $12,473 | $855 | $11,618 |
Source: Public Records
Agents Affiliated with this Home
-
D'Andre Daye
-
Michael Applegate
Seller Co-Listing Agent in 2024
Michael Applegate
Straight-A Realty, LLC
(630) 288-2446
6 in this area
81 Total Sales
-
Daniel Ellington
Buyer's Agent in 2024
Daniel Ellington
Infiniti Properties, Inc.
(708) 625-8788
1 in this area
11 Total Sales
-
Jon Garrity
Seller's Agent in 2023
Jon Garrity
PIP Realty Group
(773) 233-2301
6 in this area
80 Total Sales
-
Monae Nunnery
M
Seller Co-Listing Agent in 2023
Monae Nunnery
Redfin Corporation
-
W
Buyer's Agent in 2023
Whitni Mungin
Prince Realty Group LLC
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 12091847
APN: 21-31-108-075-1005
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