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$725,000   Price Analysis
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1401 Marengo Ave
Forest Park, IL 60130
Unknown bed 2 bath unknown SqFt ($0/SqFt)
5,166SqFt lot. Built 1962
Listed 2024-04-05, Taxes $19,048
Ⓧ USDA Ineligible
due to location

near Forest Park

Welcome to the heartbeat of Forest Park!

* Has Contingent Offer *

Nestled in this vibrant, hipster haven moments from downtown Chicago, this 6-flat investment property embodies convenience and community charm. Built in 1961, this sturdy brick building houses 5 active tenants across its 6 well-maintained units. Boasting a total of 8 bedrooms and 6 full baths, this property offers a diverse layout, featuring four two-bedroom apartments and two cozy one-bedroom garden units. Most of the bathrooms have been updated since 2018 with new tile, updated porcelain, new vanity in a bright and upbeat well-lit bathroom.

Most of the kitchens have been updated since 2018 with new sinks, appliances, newly painted cabinetry and flooring. Positioned on a corner lot, this property surprises with its spaciousness, showcasing expansive grassy ares between the sidewalk and curb. Convenience meets comfort with shared amenities including low-cost laundry in the basement, ensuring an easy, hassle-free living experience for tenants. There is dedicated outdoor parking for each unit. Forest Park is more than a location; it's a lifestyle-a place where live, work, play, dine and shop converge seamlessly amidst a backdrop of year-round festivals and family events. Don't miss this opportunity to invest in the beating heart of a community that embodies the essence of modern living.


Presented by Marty Dunne at
Berkshire Hathaway HomeServices Chicago.
Listing Agent Photo

Property MLS #12021824 from MRED

Full Bathrooms: 2

Lot Size Acres: 0.118595
Lot Size Dimensions: 41X126
Lot Size Square Feet: 5166

Association: No
Calculated Total Monthly Association Fees: 0

Number of Units: 6
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Full Bathrooms in Unit-1: 1
Full Bathrooms in Unit-2: 1
Total Rooms in Unit-1: 5
Total Rooms in Unit-2: 4

Tenant Pays: Electricity

Annual Tax Amount: 19548.00
Source Listing Status: Active Under Contract
County: Cook
Current Use: Multi-Family
Directions: From Harlem, go west on 13th to Marengo. Go South to address.
Tax Year: 2021
Source Property Type: Multi-Family
Parcel Number: 15242100660000
Property Subtype: Multi Family 5+
Source System Name: C2C

YearAssessments
Building + Land
Total
Tax
2020$54,561 + $2,857
$57,418
$19,048
2019$45,998 + $2,609
$48,607
$17,114
2018$45,998 + $2,609
$48,607
$16,762
2017$45,998 + $2,609
$48,607
$16,393
2016$36,416 + $2,360
$38,776
$13,895
2015$36,416 + $2,360
$38,776
$13,678
2014$36,416 + $2,360
$38,776
$13,419
2013$32,647 + $2,360
$35,007
$11,321
2012$32,647 + $2,360
$35,007
$10,980
2011$32,647 + $2,360
$35,007
$10,839
2010$38,357 + $2,360
$40,717
$11,739
2009$38,357 + $2,360
$40,717
$11,354
2007$39,820 + $2,981
$42,801
$10,755
2006$39,820 + $2,981
$42,801
$10,433

Listing removed 2024-04-06
$0
MRED
Listed 2024-04-05
$725,000
MRED
Price Changed 2024-02-23
$725,000
MRED
Listed 2024-01-23
$749,900
MRED
Listing removed 2024-01-22
$799,000
MRED
Listing removed 2024-01-13
$0
MRED
Relisted 2024-01-12
$799,000
MRED
Listing removed 2023-12-28
$0
MRED
Relisted 2023-12-27
$799,000
MRED
Listing removed 2023-12-12
$0
MRED
Listed 2023-12-11
$799,000
MRED

Net Operating Income: 50000

Year Built: 1962
Property Age: 62
Levels or Stories: 2

Betsy Ross Elementary School is a public elementary school located approximately 0.1 miles away.
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Forest Park Middle School is a public middle school located approximately 0.6 miles away.
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Proviso East High School is a public high school located approximately 1.9 miles away.
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Lectura Montessori School is a private elementary school located approximately 0.7 miles away.
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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.