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1338 S Springfield Avenue, Chicago, IL 60623
$510,000
1338 S Springfield Avenue, Chicago, IL 60623View this property at 1338 S Springfield Avenue, Chicago, IL 60623
1338 S Springfield AvenueChicagoIL60623
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Property Description
Welcome to this fantastic 10% cap investment opportunity! This brick 6-unit building is a gem for any savvy investor. Situated in a desirable location, this property promises a stable income source and incredible potential for long-term growth. The current tenants are from the Chicago Housing Authority (CHA), ensuring consistent occupancy and reliable rental income. Each unit within this well-maintained building offers a host of attractive features. Hardwood floors throughout provide a timeless and elegant touch, while gas forced air heating ensures comfort and efficiency. The convenience of separate utilities adds to the appeal, making it easier to manage expenses and optimize profitability. The entire building has undergone a thorough gut rehab with meticulous attention to detail, supported by approved plans and permits. This reassures the buyer of the quality and durability of the property, minimizing maintenance and renovation costs in the foreseeable future. With a thoughtfully designed layout, the building comprises three units with 3 bedrooms and 1 bath, and three units with 2 bedrooms and 1 bath. This versatile configuration caters to various tenant needs, appealing to a wide range of potential renters. The current property manager, who has been overseeing the building's operations, is willing to continue working with the new owner. This seamless transition process ensures a hassle-free experience for the buyer, allowing them to focus on maximizing returns and enjoying the benefits of their investment. Don't miss out on this incredible opportunity to add a brick 6-unit building to your investment portfolio. With stable CHA tenants and the support of a reliable property manager, this property is poised to deliver long-term success. Schedule a showing today and discover the potential that awaits you!
Full Property Details
Full Property Details for 1338 S Springfield Ave
General
- Sold For: $510,000
- Taxes: $4,236 (2021)
- Status: Closed
- Type: Commercial
- MLS ID: 11788774
- Added to Site: 369 day(s) ago
Location
- Area: CHI - North Lawndale
- County: Cook
- Driving Directions: Pulaski to Roosevelt then East to Springfield South to property.
Heating & Cooling
- Heating Type: Forced Air, Gas
Structural Information
- Stories/Levels: 3
- Year Built: 1908
- Built Before 1978: Yes
Lot Features
- Lot Dimensions: 30 x 125
- Zoning: MULTI
Financial Considerations
- Operating Expenses: $17,536
- Assessment Year: 1908
- Tax Amount: $4,236.6
- Tax Year: 2021
- Tenant Pays: Electricity, Heat
Disclosures and Reports
- Property ID: 16231080290000
Listed by YBRS Realty Inc.
Sold by McSully Properties LLC
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Schools
Schools serving 1338 S Springfield Ave
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
3711 W Douglas Blvd, Chicago, IL 60623 | PK-8 | 0.3 mi | |
2935 W Polk St, Chicago, IL 60612 | 9-12 | 1.3 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 1338 S Springfield Ave
Date
Details
Price
Change
Source
9/19/2023
Sold
$510,000
-19.05%
MLS
5/21/2023
Listed
$630,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1338 S Springfield Avenue, Chicago, IL 60623 (MLS# 11788774) is a Commercial property that was sold at $510,000 on September 19, 2023. Want to learn more about 1338 S Springfield Avenue? 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.