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    8100 S May Street

    Chicago, IL 60620
    • $342,000
    • STATUS: Active Under Contract
    • ON SITE: 50 days
    • MLS #: 10947971
    Under Contract
    UPDATED: 226 min ago
    $342,000
    • 0
      BEDS
    • 0.1
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,344
      SQFT
    • $64
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1933
    County:

    School Ratings & Info

    Description

    This 6-Unit Auburn-Gresham property sits on a wide 35' x 125' parcel. This building is highlighted by a rare multiple brick floor to joist supporting walls. The attractive two-story property features 2, 2-bedroom, 1-bath, and 4, 1-bedroom, 1-bath rental units. Four units have similar finishes as they have each been updated over the past few years. One unit's rehab is 80% complete. One unit needs extensive bathroom and some kitchen repairs. The three remaining units need painting and minor repairs. The property is being sold As-Is. GOOD NEWS! Each unit is separately metered for gas and electric and are served by central water heaters. GREAT NEWS! Each Individual unit has its own gas forced air furnace heating system. The furnaces are 5 years old, the roof is 8 years old and the 12-year-old exterior porches are built to meet city requirements. With a projected Gross Income of $61,200 the projected NOI is $48,000 to $52,000 annualy. This is based on an $800 and $950 monthly rent collected per unit. Extra income can be generated from pay washers and dryers and/or higher rents and storage. Area Cap Rates are 9.5% to 11%.

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    © 2021 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 2021-01-26T18:52:44.593 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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    8100 S May Street Chicago, IL 60620

    • Price: $342,000
    • Status: Active Under Contract
    • Updated: 226 min ago
    • MLS #: 10947971
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.1
    Acres
    5,344
    SQFT
    $64
    $/SQFT
    1933
    Built
    Neighborhood:
    Chi - Auburn Gresham
    County:
    Cook
    Area:
    Chi - Auburn Gresham
    Property Description
    This 6-Unit Auburn-Gresham property sits on a wide 35' x 125' parcel. This building is highlighted by a rare multiple brick floor to joist supporting walls. The attractive two-story property features 2, 2-bedroom, 1-bath, and 4, 1-bedroom, 1-bath rental units. Four units have similar finishes as they have each been updated over the past few years. One unit's rehab is 80% complete. One unit needs extensive bathroom and some kitchen repairs. The three remaining units need painting and minor repairs. The property is being sold As-Is. GOOD NEWS! Each unit is separately metered for gas and electric and are served by central water heaters. GREAT NEWS! Each Individual unit has its own gas forced air furnace heating system. The furnaces are 5 years old, the roof is 8 years old and the 12-year-old exterior porches are built to meet city requirements. With a projected Gross Income of $61,200 the projected NOI is $48,000 to $52,000 annualy. This is based on an $800 and $950 monthly rent collected per unit. Extra income can be generated from pay washers and dryers and/or higher rents and storage. Area Cap Rates are 9.5% to 11%.
    Exterior Features

    Land Amenities Curbs And GuttersSidewalks Location Corner Parking Total 0

    Interior Features

    Basement Description Unfinished Cooling Window Unit(S) Electric 0-100 Amps Fireplaces Total 0 Heat Ventilation Forced Air Number Of Bedrooms Type5 0 Number Of Bedrooms Type6 0 Number Of Bedrooms Unit1 1 Number Of Bedrooms Unit2 2 Number Of Bedrooms Unit3 0 Number Of Bedrooms Unit4 0 Number Of Dishwashers 0 Number Of Disposals 0 Number Of Dryers 0 Number Of Full Bathrooms Type1 1 Number Of Full Bathrooms Type2 1 Number Of Ranges 0 Number Of Refrigs 0 Number Of Rooms Unit Five 0 Number Of Rooms Unit Four 0 Number Of Rooms Unit Six 0 Number Of Rooms Unit1 4 Number Of Rooms Unit2 5 Number Of Rooms Unit3 0 Number Of Rooms Unit7 0 Number Of Units Apt Type1 4 Number Of Units Apt Type2 2 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 0 Number Of Window Ac 0

    Property Features

    Additional Parcels YN No Association Fee Includes None Built Before1978 YN Yes Current Use Multi-Family Electric Expense 750 Expense Year 2019 Fuel Expense 0 Gross Income 7800 Gross Scheduled Income 7800 Insurance Expense 1130 Janitor Expense 2400 Known Encumbrances None Known Lot Size Dimensions 35 X 125 Maintenance Expense 0 Monthly Income Max1 750 Monthly Income Max2 1000 Net Operating Income Year 2019 Operating Expense 11483 Other Expense 0 Owners Assoc YN No Possible Use Multi-Family Tax Annual Amount 3500 Tax Year 2019 Tenant Pays Air ConditioningElectricityHeat Total Monthly Income 650 Trash Expense 0 Type Multi Family Flats Unincorporated YN No Water Sewer Expense 1800 Zoning Multi

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Coldwell Banker Realty.


    © 2021 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 2021-01-26T18:52:44.593 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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