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7646 S Colfax Avenue

Chicago, IL 60649
  • $540,000
  • STATUS: Active Under Contract
  • ON SITE: 46 Days
  • MLS #: 11608969
Under Contract
UPDATED: 20 min ago
$540,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1923
County:

School Ratings & Info

Description

This is a GREAT Investment in a GREAT location! So many changes coming to the area don't miss out on owning a solid property! This building has been owned by the same person for over 30 years and has been kept in good condition. The apartments have nice size bedrooms and spacious living rooms and dining rooms. The total square footage for each apartment is about 1200. There are newer windows and all the lintels were replaced on the front of the building; which also has been tuckpointed. The roof is 9 years old and a new boiler and a hot water tank have all been replaced in the last 5 years. The owner is in the process of revamping two vacancies for rental. The hallway and entrance to the building are being painted. The property has two nice basements and a four-car brick garage. With the Obama center coming and the close proximity to Lake Michigan and easy access to Downtown, this is an area not to be missed for the savvy investor!! Current rents are below the market rate for the area... I see the future and this is an ideal property for condo conversion. SHOW AND SELL! THIS IS THE ONE!

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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 2022-10-05T07:06:23.253 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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7646 S Colfax Avenue Chicago, IL 60649

  • Price: $540,000
  • Status: Active Under Contract
  • On Site: 46 Days
  • Updated: 20 min ago
  • MLS #: 11608969
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1923
Built
Neighborhood:
Chi - South Shore
County:
Cook
Area:
Chi - South Shore
Property Description
This is a GREAT Investment in a GREAT location! So many changes coming to the area don't miss out on owning a solid property! This building has been owned by the same person for over 30 years and has been kept in good condition. The apartments have nice size bedrooms and spacious living rooms and dining rooms. The total square footage for each apartment is about 1200. There are newer windows and all the lintels were replaced on the front of the building; which also has been tuckpointed. The roof is 9 years old and a new boiler and a hot water tank have all been replaced in the last 5 years. The owner is in the process of revamping two vacancies for rental. The hallway and entrance to the building are being painted. The property has two nice basements and a four-car brick garage. With the Obama center coming and the close proximity to Lake Michigan and easy access to Downtown, this is an area not to be missed for the savvy investor!! Current rents are below the market rate for the area... I see the future and this is an ideal property for condo conversion. SHOW AND SELL! THIS IS THE ONE!
Exterior Features

Exterior Building Type Brick Outdoor Parking Other Parking Total 4 Roof Structure Flat

Interior Features

Heat Ventilation Radiators

Property Features

Additional Parcels YN No Approximate Age Older Built Before1978 YN Yes Contingency Financing Continue To Show Yes Current Use Multi-Family Gross Income 57600 Gross Scheduled Income 57600 Insurance Expense 3500 Maintenance Expense 800 Mls Actual Status Contingent Net Operating Income 40051 Operating Expense 17549 Ownership Types Individual Tax Annual Amount 4321 Tax Year 2020 Tenant Pays ElectricityOther Total Monthly Income 4800 Type Multi Family 5+ Zoning Multi

Listing information © 2022 Midwest Real Estate Data LLC.
Listing provided courtesy of Berkshire Hathaway Homeservices Chicago: 312-944-8900.


© 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 2022-10-05T07:06:23.253 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