Description for
8927 S Muskegon AvenueChicago, IL 60617
((Motivated Sellers just Dropped the price!)) Really Decent looking property with some Good Value Add, (still needs a bit of work)... ((8 unit / But its a Legal 6 unit & There's 2 Buildings on the property)). The property is located in South Chicago directly across the street from Bessemer Park with a great swimming pool and tennis courts and right around the corner from Baker College Prep. Several units have been renovated being unit 1B, 2B, 3A, 3B and the coach house units. All the decks have been updated and are to code. The building has some newer windows that have been installed over the past few years. The property does not have any violations and will pass all inspections. All utilities are separate and paid for by the tenants. The building is sitting at a decent cap rate of 7.14% now and that's with only 4 of the 8 units rented & occupied. If all units are rented & occupied the cap rate would be at least a solid 14% conservatively. ((48 HOURS NOTICE IS REQUIRED FOR ALL SHOWINGS PER ILLINOIS TENANTS RIGHTS))
Price
$345,000
Cook
3,132 (approx)
12034374
Active
Description
((Motivated Sellers just Dropped the price!)) Really Decent looking property with some Good Value Add, (still needs a bit of work)... ((8 unit / But its a Legal 6 unit & There's 2 Buildings on the property)). The property is located in South Chicago directly across the street from Bessemer Park with a great swimming pool and tennis courts and right around the corner from Baker College Prep. Several units have been renovated being unit 1B, 2B, 3A, 3B and the coach house units. All the decks have been updated and are to code. The building has some newer windows that have been installed over the past few years. The property does not have any violations and will pass all inspections. All utilities are separate and paid for by the tenants. The building is sitting at a decent cap rate of 7.14% now and that's with only 4 of the 8 units rented & occupied. If all units are rented & occupied the cap rate would be at least a solid 14% conservatively. ((48 HOURS NOTICE IS REQUIRED FOR ALL SHOWINGS PER ILLINOIS TENANTS RIGHTS))
Listing Information
Property Type: Multi-Family, Business Opportunities, 3+ Story
0.07 Acres
3,132 (approx)
1888
3
Aluminum siding,Vinyl siding
Multi-Family
Lake//
Concrete Perimeter
Public
8 Total
Multi-Family
Neighborhood
Room Information
Interior Features
Window Unit(s)
Exterior / Lot Features
Vinyl, Aluminum
Fiberglass
25X125
MULTI
Driving Directions
SOUTH CHICAGO TO MUSKEGON THEN NORTH TO PROPERTY WHICH WILL BE ON THE RIGHT SIDE ACROSS FROM PARK
Financial Considerations
26062140120000
$2,807
Listing Price History
Chicago Real Estate
Chicago is located in Illinois.
Chicago, Illinois 60617 has a population of 2,781,445.
The median household income in Chicago, Illinois 60617 is
$42,814.
The median household income for the surrounding county is $68,916
compared to the national median of $66,222.
The median age of people living in Chicago 60617 is 38 years.
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Courtesy: Compass
Listings courtesy of MRED as distributed by MLS GRID
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