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    5324 Kimball Avenue

    Chicago, IL 60625
    • $1,650,000
    • STATUS: Closed
    • ON SITE: 89 days
    • MLS #: 10796299
    Sold - 10/13/2020
    $1,650,000
    SOLD - 10/13/2020
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1931
    County:

    School Ratings & Info

    Description

    The subject property is a 13-unit brick, walk-up building located near the intersection of Kimball Ave. and Foster Ave. in the Albany Park neighborhood of Chicago. The current unit mix consists of Ten (10) - 1 Bed/1 Bath and Three (3) - 2 Bed/1 Bath apartments with separate formal dining rooms. Recently, three of the units were extensively renovated with updates that included new kitchens (cabinetry, countertops, tile work, appliances), updated bathrooms (vanity, sink, faucet, toilet, tile work, and finishes), hardwood flooring throughout and trim work. Additionally, all the windows were replaced, and the rear porches were replaced in 2015. This is an excellent opportunity for an investor to acquire a multifamily property with significant value-add potential. The current rents are averaging at least 20% below market, which offers the opportunity to raise the current rents to market and operate the property as-is. A buyer may also choose to convert the dining rooms into second bedrooms, which would enhance the unit layouts for a significant yield increase.

    Sold by Dream Town Realty.

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    © 2020 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 BNRealty | RE/MAX Rising. Based on information submitted to the MRED as of 2020-10-25T06:54:09.11 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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    5324 Kimball Avenue Chicago, IL 60625

    • Price: $1,675,000
    • Status: Closed
    • Updated: 37 min ago
    • MLS #: 10796299
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1931
    Built
    Neighborhood:
    Chi - North Park
    County:
    Cook
    Area:
    Chi - North Park
    Property Description
    The subject property is a 13-unit brick, walk-up building located near the intersection of Kimball Ave. and Foster Ave. in the Albany Park neighborhood of Chicago. The current unit mix consists of Ten (10) - 1 Bed/1 Bath and Three (3) - 2 Bed/1 Bath apartments with separate formal dining rooms. Recently, three of the units were extensively renovated with updates that included new kitchens (cabinetry, countertops, tile work, appliances), updated bathrooms (vanity, sink, faucet, toilet, tile work, and finishes), hardwood flooring throughout and trim work. Additionally, all the windows were replaced, and the rear porches were replaced in 2015. This is an excellent opportunity for an investor to acquire a multifamily property with significant value-add potential. The current rents are averaging at least 20% below market, which offers the opportunity to raise the current rents to market and operate the property as-is. A buyer may also choose to convert the dining rooms into second bedrooms, which would enhance the unit layouts for a significant yield increase.
    Exterior Features

    Construction Brick Lot Dimensions Common Number Of Parking Spaces 0

    Interior Features

    Number Of Bedrooms Type5 0 Number Of Bedrooms Type6 0 Number Of Bedrooms Type7 0 Number Of Bedrooms Unit1 1 Number Of Bedrooms Unit2 2 Number Of Bedrooms Unit3 0 Number Of Bedrooms Unit4 0 Number Of Dishwashers 3 Number Of Dryers 2 Number Of Full Bathrooms Type1 1 Number Of Full Bathrooms Type2 1 Number Of Ranges 13 Number Of Refrigs 13 Number Of Rooms Unit Five 0 Number Of Rooms Unit Four 0 Number Of Rooms Unit Six 0 Number Of Rooms Unit1 2 Number Of Rooms Unit2 3 Number Of Rooms Unit3 0 Number Of Rooms Unit7 0 Number Of Stories 4 Number Of Units Apt Type1 10 Number Of Units Apt Type2 3 Number Of Units Apt Type3 0 Number Of Units Apt Type4 0 Number Of Units Apt Type5 0 Number Of Units Apt Type6 0 Number Of Units Apt Type7 0 Number Of Washers 2 Repairs Decor Expense 3900

    Property Features

    Age Older Built Before1978 YN Yes Electricity Expense 875 Exterior Building Type Brick Fuel Expense 0 Gross Rental Income Amount 171060 Heat Ventilation Forced AirGas Insurance Expense 1928 Janitor Expense 5200 Monthly Income Max1 1095 Monthly Income Max2 1450 Net Oper Income Amount 100750 Other Expenses 3900 Tax Year 2019 Taxes 15899.4 Tenant Pays ElectricOther Total Annual Exp 64803 Total Annual Income 174267 Total Monthly Income 14255 Type Multi Family Other Water Expense 4240 Zoning Type Multi

    Listing information © 2020 Midwest Real Estate Data LLC.
    Listing provided courtesy of Keller Williams Chicago-Lincoln Park.


    © 2020 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 BNRealty | RE/MAX Rising. Based on information submitted to the MRED as of 2020-10-25T06:54:09.11 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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