NOT LISTED FOR SALE

8956 S Escanaba Ave Chicago, IL 60617

South Chicago Neighborhood
17 Beds
11 Baths
-- Sq Ft
1964 Built

Sale Details

Date Sold: March 11, 2019

Last sale price $350,000

64 Days on Market

About This Home

As of March 2019

$55k PRICE REDUCTION. Offered at a 13.69% CAP rate. The asset presents an opportunity for an investor who is looking for a stabilized asset consisting of (6) 2 Bedrooms 1 Bath & (5) 1 Bedroom 1 Bath. This mid-1960's building comes fully rehabbed within the last year. There is upside potential with increasing rents and additional untapped income available through parking and adding washer and dryers. Each unit has separate electric. The exterior was tuckpointed and lentils were replaced approximately two years ago. The roof was silver coated within the last year. The property is fully equipped with an HD security system. The building is walking distance to the South Shore train line and the stop is 87th. This property and 2748 E. 83rd St. can be purchased as a package deal; both in South Chicago. An investor could own a total of 19 units within a five minute drive of each building.

Last Agent to Sell the Property

Harrison Cohen

Triton Realty Group LLC License #475177887 Listed on: 10/25/2018

Last Buyer's Agent

Pratap Chudasama

Provident Realty, Inc. License #475171174

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,438

Year Built

  • Built in 1964

Parking

  • 6 to 12 Parking Spaces

Home Design

  • Brick Exterior Construction

Bedrooms and Bathrooms

  • 17 Bedrooms
  • 11 Bathrooms

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Window Unit Cooling System
  • Central Heating
  • Heating System Uses Gas

Additional Features

  • 3-Story Property
  • Lot Dimensions are 30 x 125

Listing and Financial Details

  • Tenant pays for electricity

Community Details

Overview

  • 11 Units

Building Details

  • Electric Expense $2,112
  • Insurance Expense $3,000
  • Maintenance Expense $600
  • Other Expense $1,200
  • Trash Expense $600
  • Water Sewer Expense $1,335
  • Operating Expense $29,985
  • Gross Income $91,620
  • Net Operating Income $61,634

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,438

Year Built

Built in 1964

Listing Details

  • Property Type: Commercial Sale
  • Property Type: Multi Family 5+
  • Current Use: Multi-Family
  • Property Sub-Type: Flats
  • Stories: 3
  • Year Built: 1964
  • Built Before 1978 (Y/N): Yes
  • Information: Show-Lock Box
  • Estimated Age: New Rehab
  • Actual Status: Closed
  • ResoPropertyType: CommercialSale
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bathrooms: 11
  • Total Bedrooms: 17
  • Room: 0

Exterior Features

  • Construction Materials: Brick
  • Exterior Building Type: Brick

Garage/Parking

  • Outdoor Parking: 6-12 Spaces

Utilities

  • Cooling: Wall Sleeve, Window Unit(s)
  • Heat/Ventilation: Central Bldg Heat,Gas

Fee Information

  • Trash Expense: 600
  • Water Sewer Expenses: 1335

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 30 X 125
  • Zoning: MULTI
  • Alternate Phone Number: (847) 624-6639

Rental Info

  • Tenant Pays: Electricity
  • Board Number: 8

Multi Family

  • Net Operating Income: 61634
  • Insurance Expense: 3000
  • ElectricExpense: 2112
  • GrossIncome: 91620
  • Maintenance Expense: 600
  • NumberOfUnitsTotal: 11
  • OperatingExpense: 29985
  • Type Multi-Family: Flats

Tax Info

  • Tax Annual Amount: 11438
  • Tax Year: 2016
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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 Prior Sale
03/11/2019 03/11/19 Sold $350,000 -6.7% --
12/28/2018 12/28/18 Pending -- -- --
12/03/2018 12/03/18 Price Changed $375,000 -6.2% --
11/08/2018 11/08/18 Price Changed $399,999 -7.0% --
10/25/2018 10/25/18 For Sale $429,999 0.0% --
05/18/2018 05/18/18 Rented $650 0.0% --
04/12/2018 04/12/18 For Rent $650 0.0% --
04/10/2018 04/10/18 Rented $650 0.0% --
04/07/2018 04/07/18 Price Changed $650 -13.3% $1 / Sq Ft
01/29/2018 01/29/18 For Rent $750 0.0% --
02/19/2016 02/19/16 Sold $105,000 -25.0% -- View Prior Sale
01/08/2016 01/08/16 Pending -- -- --
08/06/2015 08/06/15 For Sale $140,000 -- --
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 $8,042 $56,200 $9,556 $46,644
2024 $8,042 $56,200 $9,556 $46,644
2023 $7,844 $38,025 $4,205 $33,820
2022 $7,844 $38,025 $4,205 $33,820
2021 $7,668 $38,024 $4,204 $33,820
2020 $13,030 $58,347 $4,204 $54,143
2019 $11,753 $58,347 $4,204 $54,143
2018 $8,863 $44,757 $4,204 $40,553
2017 $2,157 $10,000 $3,440 $6,560
2016 $11,438 $56,974 $3,440 $53,534
2015 $10,466 $56,974 $3,440 $53,534
2014 $10,597 $56,974 $3,440 $53,534
2013 $10,386 $56,974 $3,440 $53,534
Source: Public Records

Agents Affiliated with this Home

  • Harrison Cohen

    Seller's Agent in 2019

    Harrison Cohen

    Triton Realty Group LLC

    21 Total Sales

    Harrison Cohen
    Section Image
  • Pratap Chudasama

    Buyer's Agent in 2019

    Pratap Chudasama

    Provident Realty, Inc.

    (224) 707-0747

    10 Total Sales

    Pratap Chudasama
    Section Image

  • S

    Seller's Agent in 2018

    Sparkle Wilson

    TMT Realty and Management Services LLC

    Section Image
  • Maurice Hampton

    Seller's Agent in 2016

    Maurice Hampton

    Centered International Realty

    (312) 576-4485

    19 Total Sales

    Maurice Hampton
    Section Image
  • Brande Guilmette-Hampton

    Seller Co-Listing Agent in 2016

    Brande Guilmette-Hampton

    Centered International Realty

    (312) 806-3026

    2 in this area

    80 Total Sales

    Brande Guilmette-Hampton
    Section Image
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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 10121287

Midwest Real Estate Data (MRED)

APN: 26062140460000

Illinois Cook County Chicago 60617 South Chicago

8956 S Escanaba Ave, Chicago, IL

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) 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.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID

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