$489,900 Price Analysis    ♡   Chicago, IL 60638 10 bed 4 bath 5,400 SqFt ($90/SqFt) Built 1918 Listed 2024-02-12, Taxes $7,613 | Ⓧ USDA Ineligible due to location near Chicago |
GARFIELD PARK UNIQUE PROPERTY FOR A INVESTOR OR OWNER OCUPIED WITH 3 RENTAL UNITS TO LOWER THE MORTGAGE TO ALMOST NOTHING.
* Has Contingent Offer *THIS PROPERTY HAS 2 BUILDINGS WITH 4 LEGAL UNITS. 1 UNIT IS OWNER OCCUPIED AND HAS BEEN RENOVATED TO 90%. THE MAIN UNIT HAS 4 BEDROOMS 1 BATH WITHE THE 2ND FLOOR BATH ROUGHED IN READY TO BE FINISHED. KITCHEN WAS REMODELED A COUPLE YEARS AGO. THE BASEMENT UNIT IS ABOUT 80% RENOVATED 2 BEDROOM 1 BATH AND COULD BE FINISHED QUICKLY TO RENT OR RELATED LIVING. THE REAR BUILD HAS 2 UNITS WITH SEPARATE ENTRANCES THE UPSTAIRS UNIT IS 90% RENOVATED 2 BEDROOM 1 BATH UNIT AND COULD BE FINISHED QUICKLY TO RENT. THE LOWER UNIT IS ABOUT 50% RENOVATED 2 BEDROOM 1 BATH UNIT.
WITH SOME CREATIVE SWEAT EQUITY THIS 4 UNIT IS A GREAT INVESTMENT ESTIMATES TO FINISH THE 4 UNITS ARE APPROX $70K AND AFTER REMODEL VALUE IS $700K - $750K. THE RENTAL ON THE 3 UNITS SHOULD BE APPROX 4K - 4.5K PER MONTH. ALLL 4 UNITS WOULD BE 7K- 7.5K. ALL UNITS HAVE SEPARATE ELECTRIC AND GAS METERS THE 2 REAR UNITS HAVE SEPARATE HOT WATERS THE FRONT BUILD SHARE THE HOT WATER HEATER IT COULD BE CHANGE TO SEPARATE. ALL WATER IS ON ONE BILL. ALL UNITS HAVE SEPARATE HEATERS NO A/C EXCEPT WINDOW UNITS. THE PROPERTY HAS BEEN OWNED BY THE SAME FAMILY FOR 40 YEARS AND DUE TO HEALTH CANNOT FINISH THE PROJECTS TO BRING T HE UNITS BACK TO RENTABLE CONDITION, THE PROPERTY IS BEING SOLD AS-IS NO FHA OFFERS WILL BE CONSIDERED. CONVENTIONAL 203K OR CASH OFFERS. GREAT LOCATION CLOSE TO SHOPPING AND EXPRESSWAY GREAT RENTAL AREA.
Presented by Phillip Lawrence at
RE/MAX Ultimate Professionals.
Property MLS #11978866 from MRED
Bedrooms Possible: 10
Basement Features: Full
Basement Description: Finished
Full Bathrooms: 4
Deck
Porch
Lot Size Dimensions: 34X128X58X125.6
Calculated Total Monthly Association Fees: 0
Map directions Map directions Map directionsBedrooms in Unit-2: 2
Bedrooms in Unit-3: 2
Bedrooms in Unit-4: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Full Bathrooms in Unit-1: 1
Full Bathrooms in Unit-2: 1
Full Bathrooms in Unit-3: 1
Full Bathrooms in Unit-4: 1
Total Rooms in Unit-1: 7
Total Rooms in Unit-2: 4
Total Rooms in Unit-3: 4
Total Rooms in Unit-4: 4
Unit-1 Square Feet: 2500
Unit-2 Square Feet: 900
Unit-3 Square Feet: 1000
Unit-4 Square Feet: 1000
Unit 2 Total Actual Rent: 1200
Unit 3 Total Actual Rent: 1400
Unit 4 Total Actual Rent: 1400
Source Listing Status: Active Under Contract
County: Cook
Directions: Archer Ave East of Central to Lockwood north 1st House on Left
Tax Year: 2021
Ownership: Fee Simple
Source Property Type: Residential Income
Parcel Number: 19093130230000
Township: Lake
Property Subtype: Two to Four Units
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2020 | $32,178 + $4,882 $37,060 | $7,613 |
| 2019 | $37,463 + $4,882 $42,345 | $7,868 |
| 2018 | $37,463 + $4,882 $42,345 | $7,735 |
| 2017 | $33,620 + $4,393 $38,013 | $7,505 |
| 2016 | $33,620 + $4,393 $38,013 | $7,160 |
| 2015 | $33,620 + $4,393 $38,013 | $6,532 |
| 2014 | $28,716 + $4,149 $32,865 | $5,664 |
| 2013 | $28,716 + $4,149 $32,865 | $5,543 |
| 2012 | $28,716 + $4,149 $32,865 | $5,494 |
| 2011 | $36,817 + $5,370 $42,187 | $6,223 |
| 2010 | $36,817 + $5,370 $42,187 | $6,120 |
| 2009 | $36,817 + $5,370 $42,187 | $5,698 |
| 2007 | $38,637 + $5,077 $43,714 | $4,950 |
| 2006 | $38,637 + $5,077 $43,714 | $4,456 |
$489,900
MRED
Listing removed 2024-02-12
$499,999
MRED
Listed 2023-12-11
$499,999
MRED
Listing removed 2023-12-01
$450,000
MRED
Listed 2023-08-25
$450,000
MRED
Sold 2003-05-19
$124,000
Public Record
Property Age: 106
Roof: Asphalt
Water Source: Lake Michigan
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.