Waterfront - Fixer Upper
Address
7700 N Eastlake Terrace, Chicago, IL
Price
$ 3,950,000
Property Attributes
  • MLS#11973712
  • TypeContingent
  • CountyCOOK
  • CityChicago
  • AreaCHI - Rogers Park
  • Zip60626
  • StyleMulti-Family
  • Year Built1916
  • Taxes$ 34278
  • Price$ 3,950,000
  • Bedrooms6
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.31 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description

7700 N Eastlake Ter. - 7704 N Eastlake Ter., 7756-58 N Rogers Ave, is located in one of Chicago's Lakefront Neighborhoods, Rogers Park. This corner property consists of 19 residential units and 2 garage parking spaces. The apartment rental mix is comprised of (6) 3 bed/2 bath units, (6) 2 bed/1.5 bath units and (7) 1 bed/1 bath apartments. Each apartment has access to private balconies which overlook a courtyard. This classic Chicago brick, corner building has a premier, East of Sheridan location directly across the street from Lake Michigan, the Rogers Park Beach and the Rogers Beach Park Tennis Courts. The building's unique position on the block gives it an unobstructed view of the Lake, Beach and Park which can be seen from each of the apartments. The land was originally acquired in 1914 and the building constructed by William Sullivan. It has remained in the family and lovingly cared for throughout 4 generations. Take advantage of the first opportunity in the history of the building to become its owner. The investment provides huge upside and value add opportunity as it is occupied by long-term tenants with below market rents. The well-maintained building has had many updates throughout the years. Including vinyl windows, boiler, hot water heater, tuckpointing, roof silver coating, garage roof, rear decks/stairs and some electrical/plumbing. The building has 7 floorplans; all of which are large and boast front sunrooms, fireplaces, separate dining rooms, pantries and large bedrooms. The rear of the building consists of large balconies, a courtyard and a 2 car garage. 7700-06 N Eastlake Ter./7756-58 N Rogers Ave sits in in a coveted East of Sheridan, Rogers Park Location. It's a short walk to the CTA Howard Train Stop (Red/Purple/Yellow), Buses and easy driving access to Evanston and other shopping, groceries and restaurants within the City of Chicago. AS-IS. Owner doesn't warrant legality of Garden Unit.

Price History
2/5/2024 Listed $4,400,000
2/24/2024 11% - $3,950,000

General Features

Cooling None
Zoning MULTI
Association Fee Includes None
Construction Materials Brick
Year Built 1916
Electric Circuit Breakers
Tenant Pays Electricity
Stories 3
Township Rogers Park
Tax Year 2022
Current Use Multi-Family
Gross Income 323100
County Cook
Net Operating Income 169396
Operating Expense 115165
Insurance Expense 17139
Property Type Commercial Sale
Contingency Attorney/Inspection
MaintenanceExpense 24468
Possible Use Condominium,Multi-Family
Status Contingent
Directions North on Sheridan,South on Eastlake Ter. - Corner of Eastlake Ter. & Rogers Ave.
City Chicago
Total Units 19
MLS Area CHI - Rogers Park
Lot Size Square Feet 13703
Street Name Eastlake
Tax Annual Amount 34278
Electric Expense 2945
Fuel Expense 44375
Trash Expense 3948
Water Sewer Expense 10545
Additional Parcels Y/N No
Days on Market 45
Standard Status Active Under Contract
Property Type Multi Family 5+

Interior Features

Street Suffix Terrace
Basement Partially Finished,Exterior Access,Bathroom Rough-In,Storage Space

Exterior Features

Lot Dimensions PER SURVEY
Lot Size Acres 0.31
Frontage Type City Street,Alley Access
Exterior Brick

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 60626

Price
AVG $300K
$3.95M
Taxes
AVG $3,732
$34,278
Visits
AVG 68
142
Data Provided by Inside Real Estate®
Year Built
AVG 1930
1916

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