NOT LISTED FOR SALE

8211 S Ada St Chicago, IL 60620

Auburn Gresham Neighborhood
6 Beds
7 Baths
5,805 Sq Ft
4,356 Sq Ft Lot

Last Sold August 04, 2021

Last sale price $390,000 $67 Per Sq Ft

55 Days on Market

About This Home

As of August 2021

- 10.5% In-Place Cap Rate - Gross Income (w/ 5% vacancy): $68,731 - NOI: $43,662 Kiser Group is pleased to exclusively offer for purchase the sale of 8211 S. Ada, a beautifully updated, center entranced seven (7) unit building located in the Auburn Gresham neighborhood of Chicago's South Side. The building sits on an incredibly quiet, tree lined, one way street nestled amongst an abundance of single family residences. Additionally, the property sits just blocks away from Foster Park, one of Chicago's premier parks featuring an indoor pool, fitness center, and an outdoor water playground. 8211 S. Ada has a unique unit mix comprised solely of six (6) one bedroom units, along with a seventh garden level studio. All of the above ground units, however, boast over 1,000 square feet of living space and include an incredibly spacious living room along with separate dining rooms. Additionally, they are all configured in a way which easily allow for either the living room or dining room to be walled-off and converted into an additional bedroom. In addition to updated kitchens and baths, recent improvements to the building include, but not limited to, recently and updated tuck pointing (2019-2020), porch repairs to comply with most recent code (2020), newer windows, along with a modern Peerless boiler. The building is also equipped with an updated and functional two car garage, which is currently being used by the owner and not being capitalized on financially. 8211 S. Ada presents an investor a unique opportunity to acquire a positive, incredibly strong cash flowing asset with an in place cap rate over 10.5% along with a cash return of nearly 26%. Although the building has incredibly strong and long term tenant base, rents currently range from $800 to $1,050. Solely by stabilizing the rent roll to what is currently being achieved in the building, there is an opportunity to attain over a 13% cap rate. Furthermore, these figures can be even further improved should a new owner decide to convert the one bedroom units to two bedroom units.

Last Agent to Sell the Property

Aaron Sklar

Kiser Group Realty Inc License #475161507 Listed on: 01/27/2021

Co-Listed By

Noah Birk

Kiser Group Realty Inc License #475125864

Last Buyer's Agent

Sarah Langum

@properties Christie's International Real Estate License #475158233

@properties Christie's International Real Estate

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,381

Year Built

  • Built in 1929

Lot Details

  • 4,356 Sq Ft Lot
  • Lot Dimensions are 32' x 125'

Home Design

  • Garden Apartment

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 7 Bathrooms

Additional Features

  • 3-Story Property
  • Radiator

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 7 Units

Building Details

  • Electric Expense $1,560
  • Fuel Expense $3,500
  • Insurance Expense $3,216
  • Maintenance Expense $2,275
  • Manager Expense $3,408
  • Other Expense $1,600
  • Trash Expense $1,800
  • Water Sewer Expense $2,500
  • Operating Expense $25,069
  • Gross Income $72,348
  • Net Operating Income $43,121

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,381

Year Built

Built in 1929

Lot Details

0

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Property Sub-Type: Garden Complex
  • Stories: 3
  • Year Built: 1929
  • 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: 7
  • Total Bedrooms: 6
  • Room: 0
  • Room: 0
  • Room: 0

Exterior Features

  • List Price: 415000

Garage/Parking

  • Indoor Parking: 1-5 Spaces

Utilities

  • Heat/Ventilation: Radiators

Condo/Co-op/Association

  • Manager Expense: 3408

Fee Information

  • Trash Expense: 1800
  • Water Sewer Expenses: 2500
  • Janitor Expense: 1800

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.1
  • Lot Dimensions: 32' X 125'

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Multi Family

  • Net Operating Income: 43121
  • Fuel Expense: 3500
  • Insurance Expense: 3216
  • ElectricExpense: 1560
  • GrossIncome: 72348
  • Maintenance Expense: 2275
  • NumberOfUnitsTotal: 7
  • OperatingExpense: 25069
  • Type Multi-Family: Garden Complex

Tax Info

  • Tax Annual Amount: 3381
  • Tax Year: 2019

Range of Values:

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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 Change Sq Ft Price
08/04/2021 08/04/21 Sold $390,000 -6.0% $67 / Sq Ft
03/23/2021 03/23/21 Pending -- -- --
01/27/2021 01/27/21 For Sale $415,000 -- $71 / 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
  • Sarah Langum

    Buyer's Agent in 2021

    Sarah Langum

    @ Properties

    (312) 933-0045

    1 in this area

    35 Total Sales

    Sarah Langum
    Section Image
See All Agents

Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 10981693

Midwest Real Estate Data (MRED)

APN: 20321290030000

Illinois Cook County Chicago 60620 Auburn Gresham

8211 S Ada St, Chicago, IL

This home is located at 8211 S Ada St, Chicago, IL 60620 since 27 January 2021. This property was built in 1929. 8211 S Ada St is a home located in Cook County with nearby schools including Cuffe Math-Sci Tech Elementary Academy, Emil G. Hirsch Metropolitan High School, and LEARN Hunter Perkins.

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