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6457-61 N Newark Avenue

Chicago, IL 60631
  • $550,000
  • STATUS: Active Under Contract
  • ON SITE: 307 Days
  • MLS #: 11021498
Under Contract
UPDATED: 44 min ago
$550,000
  • 7
    BEDS
  • N/A
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1902
County:

School Ratings & Info

School District:
299

Description

10% capitalization rate investment opportunity! ( rents far below market by Long time owner). Opportunity knocks for this rare multi-unit Heart of Norwood Park "compound" in a walk to Metra train location, on the edge of Chicago and Niles. Legal nonconforming 4 flat has Zoning Compliance Certification on file. There are three structures on this large corner lot- steps from the park- with a total of four units, and one permanent tax index number; Great Live-in, or Investor opportunity! Live in the detached structure and rent out the other three(3) units; All apartments in clean well-maintained condition. Rents below market. The 6457 structure was converted from commercial(grocery store) to residential with all permits on file- and pending use for a business license to revert back to the future owner. Great access to all forms of transportation; Predominantly single-family detached neighborhood; City Park 1/2 block away; Possible Redevelopment Opportunity!

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© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or @properties. Based on information submitted to the MRED as of 2022-01-17T16:59:30.78 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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 properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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6457-61 N Newark Avenue Chicago, IL 60631

  • Price: $550,000
  • Status: Active Under Contract
  • On Site: 307 Days
  • Updated: 44 min ago
  • MLS #: 11021498
7
Beds
4
Baths
0
½ Baths
N/A
Acres
1902
Built
Neighborhood:
Chi - Norwood Park
County:
Cook
Area:
Chi - Norwood Park
School District:
299
Property Description
10% capitalization rate investment opportunity! ( rents far below market by Long time owner). Opportunity knocks for this rare multi-unit Heart of Norwood Park "compound" in a walk to Metra train location, on the edge of Chicago and Niles. Legal nonconforming 4 flat has Zoning Compliance Certification on file. There are three structures on this large corner lot- steps from the park- with a total of four units, and one permanent tax index number; Great Live-in, or Investor opportunity! Live in the detached structure and rent out the other three(3) units; All apartments in clean well-maintained condition. Rents below market. The 6457 structure was converted from commercial(grocery store) to residential with all permits on file- and pending use for a business license to revert back to the future owner. Great access to all forms of transportation; Predominantly single-family detached neighborhood; City Park 1/2 block away; Possible Redevelopment Opportunity!
Exterior Features

Exterior Building Type Aluminum Siding Exterior Features PatioStorms/Screens Foundation Details Brick/Mortar Is Parking Included In Price Yes Lot Features Corner Lot Lot Size .25-.49 Acre Multi Family Type 4 FlatCoach House Parking None Parking Details None Roof Asphalt Waterfront YN Yes

Interior Features

Basement Unfinished Basement Details Full Bedrooms Below Grade 0 Bedrooms Total 7 Full Baths In Building 4 Half Baths In Building 0 Heating Natural GasForced AirSteamBaseboard Rooms Total 19

Property Features

Additional Parcels YN No Age 100+ Years Built Before1978 YN Yes Contingency Attorney/Inspection Continue To Show Yes Corporate Limits Chicago General Information None Gross Income 4400 New Construction YN No Other Equipment HumidifierCo DetectorsCeiling Fan(S) Ownership Fee Simple Rebuilt YN No Sewer Public Sewer Special Listing Conditions None Tax Annual Amount 10700 Tax Year 2019 Total Numberof Unitsin Building 4 Total Rental Income 4400 Township Jefferson Type Two To Four Units Water Source Lake MichiganPublic Zoning Other

Listing information © 2022 Midwest Real Estate Data LLC.
Listing provided courtesy of Dream Town Realty.


© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or @properties. Based on information submitted to the MRED as of 2022-01-17T16:59:30.78 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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 properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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737 North Michigan Avenue, Suite 1800
Chicago IL, 60611