7535 W 58th Place Summit Argo, IL 60501
Estimated payment $3,171/month
Highlights
- Popular Property
- Colonial Architecture
- 4 Car Detached Garage
- Argo Community High School Rated A-
- Workshop
- Paved or Partially Paved Lot
About This Home
Meticulously maintained brick & frame 3-unit building in a quiet neighborhood in Summit, Illinois! Excellent investment opportunity with strong cash flow potential or perfect for owner-occupants. Currently generating $4,031/month (potential of ~ $5,000/mo. due to current below market rents). Current GRM of 8.65. This spacious ~3,300 sq ft multifamily property sits on an oversized 45x125 lot with side yard. The property features a bottom floor having a large 4 bed / 2 bath owner's unit, upstairs units are a 2 bed / 1 bath unit and a 1 bed / 1 bath unit. Recent updates include: Unit 2F fully remodeled (2022), Unit 1 updated (~2017), Unit 2R features new quartz countertop & ducted range hood. Separate circuit breaker panels and gas meters for each unit. One furnace serves the building. Additional highlights include a detached 4-car garage with artist studio (rented out for storage), full basement with Coin Washer & Dryer, and strong rental appeal. Conveniently located near major highways, with a large community park at the end of the block, offering both accessibility and neighborhood charm. PROOF OF FUNDS REQUIRED PRIOR TO SHOWINGS. Broker Owned Interest.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $11,207
Year Built
- Built in 1927 | Remodeled in 2022
Lot Details
- Lot Dimensions are 45x125
- Paved or Partially Paved Lot
Parking
- 4 Car Detached Garage
- Parking Available
Home Design
- Colonial Architecture
- Vinyl Siding
Interior Spaces
- Workshop
- Unfinished Basement
- Basement Fills Entire Space Under The House
Bedrooms and Bathrooms
- 7 Bedrooms
- 7 Potential Bedrooms
- 4 Bathrooms
Schools
- Argo Community High School
Utilities
- Heating System Uses Natural Gas
Community Details
- 3 Units
Map
Home Values in the Area
Average Home Value in this Area
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 | $10,511 | $30,000 | $4,013 | $25,987 |
| 2024 | $10,511 | $30,000 | $4,013 | $25,987 |
| 2023 | $7,669 | $30,000 | $4,013 | $25,987 |
| 2022 | $7,669 | $17,776 | $3,459 | $14,317 |
| 2021 | $7,463 | $17,775 | $3,459 | $14,316 |
| 2020 | $7,641 | $17,775 | $3,459 | $14,316 |
| 2019 | $10,808 | $23,510 | $3,182 | $20,328 |
| 2018 | $10,453 | $23,510 | $3,182 | $20,328 |
| 2017 | $11,546 | $26,006 | $3,182 | $22,824 |
| 2016 | $7,370 | $18,103 | $2,767 | $15,336 |
| 2015 | $7,085 | $18,103 | $2,767 | $15,336 |
| 2014 | $8,224 | $20,928 | $2,767 | $18,161 |
| 2013 | $6,462 | $18,694 | $2,767 | $15,927 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/08/2026 04/08/26 | For Sale | $419,000 | +33.0% | -- | |
| 09/30/2021 09/30/21 | Sold | $315,000 | +5.0% | -- | View Prior Sale |
| 07/06/2021 07/06/21 | Pending | -- | -- | -- | |
| 06/29/2021 06/29/21 | For Sale | $299,900 | -- | -- |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12466230
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Based on information submitted to the MLS GRID. 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.
Based on information submitted to the MLS GRID
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