NOT LISTED FOR SALE
6 Beds
3 Baths
2,268 Sq Ft
1885 Built

Last Sold May 26, 2023

Last sale price $480,000 $212 Per Sq Ft

40 Days on Market

About This Home

As of May 2023

Don't miss out on this well maintained Brick, Legal 3 flat building with immediate cash flow. Each unit features 2 bedrooms, 1 bath, spacious kitchen, living room, an enclosed porch and private balcony. Exterior features a beautiful front yard and a 2 car parking slab in the rear for additional income. Recent updates includes: 1st flr unit Kitchen, bath and flooring, new fence in the rear, spot tuck pointed, 2 new motors for furnaces, drain piper behind kitchen wall replaced from top to bottom. Individual gas-forced air furnaces units, individual A/C, and newer appliances. Newer front and rear porches. Full walk-in attic perfect for storage or converting the third floor into a duplex-up unit. Tenant pays utilities. Oversized 25x150 lot. Great location for IIT, UIC students and Loop commuters. Owner has never had a problem getting high quality tenants. This property is ideal for live in-owner or investor looking for a turnkey property with immediate cash-flow.

Last Agent to Sell the Property

Johnny Phan

Baird & Warner License #475167191 Listed on: 03/15/2023

Baird & Warner

Last Buyer's Agent

Wing Ho

Chi Real Estate Group LLC License #471017833

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,771

Year Built

  • Built in 1885 | Remodeled in 2021

Lot Details

  • Lot Dimensions are 25x150

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Potential Bedrooms
  • 3 Bathrooms

Parking

  • 2 Parking Spaces
  • Uncovered Parking
  • Parking Space is Owned

Utilities

  • Heating System Uses Natural Gas
  • Lake Michigan Water

Listing and Financial Details

  • Homeowner Tax Exemptions

Community Details

Overview

  • 3 Units

Building Details

  • Insurance Expense $3,442
  • Water Sewer Expense $1,200
  • Gross Income $30,000
  • Net Operating Income $25,358

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,771

Year Built

Built in 1885 | Remodeled in 2021

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1885
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: None
  • Rebuilt (Y/N): No
  • Rehab (Y/N): Yes
  • Rehab Year: 2021
  • Actual Status: Closed
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Renovated: 2021

Interior Features

  • Basement: None
  • Total Bathrooms: 3
  • Total Bedrooms: 6
  • Basement Description: None
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator
  • MRD_AppliancesAndFeatures: Stove,Refrigerator
  • MRD_AppliancesAndFeatures: Stove,Refrigerator

Exterior Features

  • Waterfront: No
  • Exterior Building Type: Vinyl Siding,Brick

Garage/Parking

  • ParkingTotal: 2
  • Number of Cars: 2
  • Parking: Space/s
  • Parking On-Site: Yes
  • Parking Ownership: Owned

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas
  • Water Source: Lake Michigan

Fee Information

  • Water Sewer Expenses: 1200

Lot Info

  • Lot Dimensions: 25X150
  • Zoning: MULTI
  • Lot Size: Less Than .25 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 8

Multi Family

  • Net Operating Income: 25358
  • Insurance Expense: 3442
  • GrossIncome: 30000
  • Units in Building: 3
  • Three Bedroom Number of Units: No
  • Type-Multi: 3 Flat

Tax Info

  • Tax Annual Amount: 6770.67
  • Tax Year: 2021
  • Tax Exemptions: Homeowner
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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
05/26/2023 05/26/23 Sold $480,000 -1.0% $212 / Sq Ft
04/25/2023 04/25/23 Pending -- -- --
03/31/2023 03/31/23 Price Changed $485,000 -2.0% $214 / Sq Ft
03/15/2023 03/15/23 For Sale $495,000 +26.9% $218 / Sq Ft
10/20/2016 10/20/16 Sold $390,000 +2.9% $172 / Sq Ft View Prior Sale
09/01/2016 09/01/16 Pending -- -- --
08/28/2016 08/28/16 Price Changed $379,000 -5.0% $167 / Sq Ft
07/22/2016 07/22/16 For Sale $399,000 -- $176 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

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 $7,107 $45,001 $18,068 $26,933
2024 $7,107 $45,001 $18,068 $26,933
2023 $6,907 $37,000 $14,600 $22,400
2022 $6,907 $37,000 $14,600 $22,400
2021 $6,771 $37,000 $14,600 $22,400
2020 $5,137 $26,161 $11,680 $14,481
2019 $5,353 $30,071 $11,680 $18,391
2018 $5,261 $30,071 $11,680 $18,391
2017 $5,890 $27,360 $9,125 $18,235
2016 $5,480 $27,360 $9,125 $18,235
2015 $5,014 $27,360 $9,125 $18,235
2014 $4,035 $21,747 $7,300 $14,447
2013 $3,955 $21,747 $7,300 $14,447
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11738157

Midwest Real Estate Data (MRED)

APN: 17322260170000