Seller's Agent in 2024
Svitlana Creadon
Compass
(773) 225-9027
2 in this area
68 Total Sales
8355 Oconnor Dr River Grove, IL 60171
9
Beds
6
Baths
4,914
Sq Ft
6,125
Sq Ft Lot
About This Home
As of March 2024Amazing investment opportunity! This all masonry 6-unit rental building is located in the highly coveted neighborhood of River Grove. It has spacious 3 units with 2 Bed/ 1 bath and 3 units with - 1 Bed/ 1 bath. Perfectly located on a quiet residential street, close to Metra Station and stores. Great opportunity for an investor with lots of rental comps in the area starting at $1,100 for 1 Bed/ 1 Bath (new development starting at $1,600) and $1,350 for 2 bed/ 1 Bath (new development starting at $2,100). Windows were replaced 01/2018. Roof was replaced 6/2022. Coin laundry provides an additional income (approximately $350-$400 per month). 4-car garage parking (projected $150 per month rent) with plenty of storage space and lots of street parking. Private fenced yard with patio. Majority of the units are rented to a long time renters for a below market price (1 bed/ 1bath at $975- $1,200 and 2 bed/ 1bath - $1,000-$1,225). Current rental income is $6,600; after some TLC projects $9,300- $10,150 per month in rental income (over $120,000 in annual rental income). This property is perfect for an owner or investment property, offering everything you need for comfortable living. This is a true gem and won't last long on the market.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $16,590
Year Built
- Built in 1969
Lot Details
- 6,125 Sq Ft Lot
- Lot Dimensions are 49 x 124
Home Design
- Brick Exterior Construction
Interior Spaces
- 4,914 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 9 Bedrooms
- 6 Bathrooms
Utilities
- Cooling System Mounted In Outer Wall Opening
- Central Heating
- Hot Water Heating System
Listing and Financial Details
- Tenant pays for electricity
Community Details
Overview
- 6 Units
Building Details
- Electric Expense $484
- Fuel Expense $3,469
- Insurance Expense $2,100
- Trash Expense $1,860
- Water Sewer Expense $4,388
- Operating Expense $25,037
- Gross Income $79,200
- Net Operating Income $52,963
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/28/2024 03/28/24 | Sold | $870,000 | -2.8% | $177 / Sq Ft |
| 02/01/2024 02/01/24 | Pending | -- | -- | -- |
| 12/14/2023 12/14/23 | For Sale | $895,000 | -- | $182 / Sq Ft |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Svitlana Creadon
-
Oleg Baliuk
Buyer's Agent in 2024
Oleg Baliuk
KOMAR
(312) 900-9797
6 in this area
199 Total Sales
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: 11946938
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