NOT LISTED FOR SALE
8 Beds
4 Baths
-- Sq Ft
1951 Built

Sale Details

Date Sold: September 21, 2016

Last sale price $480,000

44 Days on Market

Highlights

  • Landscaped Professionally
  • Den
  • Forced Air Heating System
  • Niles North High School Rated A+
  • Enclosed Patio or Porch
  • Ceiling Fan

About This Home

As of September 2016

*only backup offers* Price lowered w/ higher rent roll with several recent CapEx improvements made to the building. Large four-flat brick building, identical (4) 2BD+Den/1BA, central HVAC, separated utilities, (4) parking spaces. Long-term owner has kept building fully occupied with very long-term tenants. Tenants pay their heat/gas, electric (1 W/D). 1 newly replaced A/C unit w/ 10YR first-time manufacturer warranty. Upgraded electrical and new windows in 2010. Sewer line repaired, concrete underneath the rear enclosed porches this year. Both sewer lines rodded with the cleaning of the catch basin. Good school districts, easy access to CTA Swift & Buses. Easily achieve a 10% cap rate with pro forma market rents earning $60K/yr. Operating at a 7% cap at one of the lowest list prices on MLS for Skokie 4-units. Great turnkey opportunity for any investor, or an owner occupant. 2015 taxes (paid in 2016) and actual utility costs disclosed in additional information tab above

Last Agent to Sell the Property

Cecil Sabu

ALLURE Real Estate License #471019943 Listed on: 06/28/2016

ALLURE Real Estate

Co-Listed By

Galyna Kurganska

Core Realty & Investments Inc. License #475146782

Last Buyer's Agent

Non Member

NON MEMBER

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,205

Year Built

  • Built in 1951

Home Design

  • Flat Roof Shape
  • Brick Exterior Construction
  • Rubber Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • Ceiling Fan
  • Den
  • Unfinished Basement
  • Basement Fills Entire Space Under The House
  • Carbon Monoxide Detectors

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Potential Bedrooms
  • 4 Bathrooms

Parking

  • 4 Parking Spaces
  • Uncovered Parking
  • Off Alley Parking
  • Parking Included in Price
  • Assigned Parking

Outdoor Features

  • Enclosed Patio or Porch

Lot Details

  • Lot Dimensions are 50x122
  • Landscaped Professionally
  • Paved or Partially Paved Lot
  • Additional Parcels

Schools

  • Devonshire Elementary School
  • Old Orchard Junior High School
  • Niles North High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Lake Michigan Water

Community Details

Overview

  • 4 Units
  • 4 Flat

Building Details

  • Gross Income $48,600
  • Net Operating Income $35,483

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,205

Year Built

Built in 1951

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1951
  • Age: 61-70 Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rehab (Y/N): No
  • ResoPropertyType: ResidentialIncome
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Total Bathrooms: 4
  • Total Bedrooms: 8
  • Other Equipment: CO Detectors, Ceiling Fan(s)
  • Room Type: Den, Enclosed Porch
  • Basement Description: Unfinished
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Central Air Conditioner
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Central Air Conditioner
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Central Air Conditioner
  • AppliancesAndFeatures: Stove,Refrigerator,Central Air Conditioner

Exterior Features

  • ExteriorFeatures: Porch
  • Foundation Details: Concrete Perimeter
  • Lot Features: Landscaped
  • Roof: Rubber, Flat
  • Waterfront: No
  • Exterior Building Type: Brick

Garage/Parking

  • Parking Features: Assigned, Off Alley
  • ParkingTotal: 4
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Sewer-Storm
  • Heating: Natural Gas, Forced Air
  • Water Source: Lake Michigan

Condo/Co-op/Association

  • Community Features: Sidewalks, Street Lights, Street Paved

Fee Information

  • Other Expenses $: 13117

Schools

  • Elementary School: DEVONSHIRE ELEMENTARY SCHOOL
  • High School: NILES NORTH HIGH SCHOOL
  • Middle/Junior School: OLD ORCHARD JUNIOR HIGH SCHOOL

Lot Info

  • Additional Parcels: Yes
  • Lot Dimensions: 50X122
  • Zoning: MULTI
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 8
  • Is Parking Included in Price: Yes
  • TenantPays: Electric,Gas,Heat

Multi Family

  • Net Operating Income: 35483
  • GrossIncome: 48600
  • Units in Building: 4
  • Three Bedroom Number of Units: No
  • Type-Multi: 4 Flat

Tax Info

  • Tax Annual Amount: 10205
  • Tax Year: 2015
  • Tax Exemptions: None
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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
09/21/2016 09/21/16 Sold $480,000 -3.8% --
08/11/2016 08/11/16 Pending -- -- --
08/02/2016 08/02/16 Price Changed $499,000 -4.0% --
06/28/2016 06/28/16 For Sale $520,000 -- --
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 $7,094 $36,723 $4,728 $31,995
2024 $7,094 $28,393 $3,965 $24,428
2023 $6,904 $28,393 $3,965 $24,428
2022 $6,904 $28,393 $3,965 $24,428
2021 $5,889 $21,517 $2,440 $19,077
2020 $5,831 $21,517 $2,440 $19,077
2019 $6,084 $24,696 $2,440 $22,256
2018 $5,082 $18,864 $2,211 $16,653
2017 $5,585 $20,583 $2,211 $18,372
2016 $5,340 $20,583 $2,211 $18,372
2015 $5,156 $18,471 $1,906 $16,565
2014 $5,035 $18,471 $1,906 $16,565
2013 $5,024 $18,471 $1,906 $16,565
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 09271618

Midwest Real Estate Data (MRED)
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