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1256 S Independence Boulevard, Chicago, IL 60623
$1,999,000
1256 S Independence Boulevard, Chicago, IL 60623View this property at 1256 S Independence Boulevard, Chicago, IL 60623
1256 S Independence BoulevardChicagoIL60623
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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!
Full Property Details
Full Property Details for 1256 S Independence Blvd
General
- Price: $1,999,000
- HOA FEE: $18,000
- Taxes: $24,754 (2022)
- Status: Active
- Type: Commercial
- MLS ID: 11993438
- Updated: 3/7/2024
- Added to Site: 62 day(s) ago
Location
- Area: CHI - North Lawndale
- County: Cook
- Driving Directions: South on Independence Boulevard in North Lawndale neighborhood
Heating & Cooling
- Heating Type: Central Building Heat, Central Heat/Individual Controls, Gas
Utilities
- Trash: 4168
Structural Information
- Stories/Levels: 3
- Year Built: 1909
- Built Before 1978: Yes
Lot Features
- Lot Dimensions: 56 x 158
Financial Considerations
- Maint. Fee: $18,000
- Insurance Fee: $2,661
- Operating Expenses: $70,763
- Other Fee: $600
- Assessment Year: 1909
- Tax Amount: $24,754
- Tax Year: 2022
- Tenant Pays: Air Conditioning, Electricity, Heat
- Pays Electric: 4560
- Pays Trash: 4168
Disclosures and Reports
- Property ID: 16231030330000
Listed by Main Street Real Estate Group
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Schools
Schools serving 1256 S Independence Blvd
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
3711 W Douglas Blvd, Chicago, IL 60623 | PK-8 | 0.2 mi | |
2935 W Polk St, Chicago, IL 60612 | 9-12 | 1.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1256 S Independence Blvd
Date
Details
Price
Change
Source
3/01/2024
Listed
$1,999,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1256 S Independence Blvd
1256 S Independence Boulevard, Chicago, IL 60623 (MLS# 11993438) is a Commercial property. 1256 S Independence Boulevard is currently listed for $1,999,000 and was received on March 01, 2024. Want to learn more about 1256 S Independence Boulevard? Do you have questions about finding other Commercial real estate for sale in North Lawndale? You can browse all North Lawndale real estate or contact a Coldwell Banker agent to request more information.