Address
1256 S Independence Boulevard, Chicago, IL
Price
$ 1,999,000
Property Attributes
- MLS#11993438
- TypeContingent
- CountyCOOK
- CityChicago
- AreaCHI - North Lawndale
- NeighborhoodNorth Lawndale
- Zip60623
- Style
- Year Built1909
- Taxes$ 24754
- Price$ 1,999,000
- Bedrooms9
- Full Bathrooms0
- Half Bathrooms0
Data Source:
Midwest Real Estate Data (MRED)
Property Description
This is a fantastic opportunity to acquire a partially gut-rehabbed building located on Independence Boulevard right in the up-and-coming neighborhood of North Lawndale. This 18-unit building offers a great unit mix of 2,3 and 4-bedroom units. All units are individually metered and offer very spacious layouts. The building has 12 units of 2BR/1BA, 3 units of 3BR/1BA and 3 units of 4BR/1BA. The basement has a coin laundry room with 3 washers and 3 dryers. Security cameras have been installed around the building. 8 units have been upgraded in the last year. Each unit has its own gas meter, water heater, and electric meter. For investors looking for a value add, there is space to add 6 more garden units. The current monthly rent roll is over $22,000 with 100% occupancy. At Asking price it's a 10 CAP!
| Price History | |
|---|---|
| 3/1/2024 | Listed $1,999,000 |
General Features
| Year Built | 1909 |
|---|---|
| Tenant Pays | Air Conditioning,Electricity,Heat |
| Stories | 3 |
| Tax Year | 2022 |
| Gross Income | 269916 |
| County | Cook |
| Net Operating Income | 199153 |
| Operating Expense | 70763 |
| Insurance Expense | 2661 |
| Property Type | Commercial Sale |
| Contingency | Attorney/Inspection |
| MaintenanceExpense | 18000 |
| Status | Contingent |
| Directions | South on Independence Boulevard in North Lawndale neighborhood |
| City | Chicago |
| Total Units | 18 |
| MLS Area | CHI - North Lawndale |
| Street Name | Independence |
| Tax Annual Amount | 24754 |
| Electric Expense | 4560 |
| Fuel Expense | 1920 |
| Trash Expense | 4168 |
| Water Sewer Expense | 10800 |
| Additional Parcels Y/N | No |
| Days on Market | 71 |
| Standard Status | Active Under Contract |
| Property Type | Multi Family 5+ |
Interior Features
| Street Suffix | Boulevard |
|---|
Exterior Features
| Lot Dimensions | 56X158 |
|---|
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 60623
Price
Taxes
Visits
Year Built
