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6947 S Jeffery Boulevard, Chicago, IL 60649
$1,200,000
6947 S Jeffery Boulevard, Chicago, IL 60649View this property at 6947 S Jeffery Boulevard, Chicago, IL 60649
6947 S Jeffery BoulevardChicagoIL60649
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Property Description
6749 S. Jeffery is a twelve (12) unit walk-up on one of Jackson Park's premier boulevards. The asset is ideally situated directly off the Lake Shore Drive's Jeffery exit, and it's nestled in the heart of Chicago's Jackson Park just blocks away from the developing Obama Presidential Library. Furthermore, 6947 S. Jeffery sits just two (2) blocks south of the Jackson Park Golf Course and is just walking distance from the Lakefront Trail on 67th Street. 6947 S. Jeffery has a unique unit composition which currently includes both one bedroom and two bedroom units. Of the twelve (12) existing units, there are nine (9) 1b/1ba units and three (3) 2b/1ba units. Eleven (11) of the which, however, feature updated flooring, newer kitchens and baths along with stone countertops, and are equipped with modern, stainless steel appliances. The remaining unit, however, has long term renters and has not been modernized within the past seven years. Recent improvements to the building consist of, but not limited to: individual and separate furnaces, updated copper plumbing, newer windows, an updated roof, steel porches, and an efficient hot water boiler. 6947 S. Jeffery presents an incredibly unique opportunity to acquire a property on Chicago's premier Jeffery Boulevard. With the area ever improving, coupled with the finite amount of assets located between 67th Street and 71st, the building is poised for additional and future growth and appreciation. Furthermore, the asset provides a new owner immediate cash flow from day one, and an incredible value add proposition by updating the remaining units as tenants move out, further improving the cap rate significantly.
Full Property Details
Full Property Details for 6947 S Jeffery Blvd
General
- Price: $1,200,000
- HOA FEE: $3,500
- Taxes: $9,383 (2022)
- Status: Active
- Type: Commercial
- MLS ID: 12031569
- Updated: 5/13/2024
- Added to Site: 51 day(s) ago
Location
- Area: CHI - South Shore
- County: Cook
- Driving Directions: From Lake Shore Dr, continue south onto Jeffery Blvd to 6947.
Heating & Cooling
- Heating Type: Individual Furnaces
Utilities
- Trash: 6650
Structural Information
- Stories/Levels: 3
- Year Built: 1961
- Built Before 1978: Yes
Lot Features
- Lot Dimensions: 50' x 100'
Financial Considerations
- Maint. Fee: $3,500
- Insurance Fee: $7,218
- Operating Expenses: $43,718
- Assessment Year: 1961
- Tax Amount: $9,383
- Tax Year: 2022
- Tenant Pays: Air Conditioning, Electricity, Heat
- Pays Electric: 753
- Pays Trash: 6650
Disclosures and Reports
- Property ID: 20244140100000
Listed by Kiser Group Realty Inc
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Schools
Schools serving 6947 S Jeffery Blvd
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
6940 S Merrill Ave, Chicago, IL 60649 | PK-8 | 0.2 mi | |
2100 E 87th St, Chicago, IL 60617 | 9-12 | 2.1 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 6947 S Jeffery Blvd
Date
Details
Price
Change
Source
4/16/2024
Listed
$1,200,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 6947 S Jeffery Blvd
Year
Property Taxes
Change
Tax Assessment
Change
2022
$9,383
2%
$45,619
—
2021
$9,174
-34%
$45,619
-27%
2020
$13,837
11%
$62,112
—
2019
$12,479
2%
$62,112
—
2018
$12,269
27%
$62,112
38%
2017
$9,687
7%
$44,999
—
2016
$9,013
9%
$44,999
—
2015
$8,246
-17%
$45,000
-16%
2014
$9,994
79%
$53,865
75%
2013
$5,596
6%
$30,769
5%
2012
$5,266
—
$29,343
—
Disclaimer: Historical tax 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 6947 S Jeffery Blvd
6947 S Jeffery Boulevard, Chicago, IL 60649 (MLS# 12031569) is a Commercial property. 6947 S Jeffery Boulevard is currently listed for $1,200,000 and was received on April 16, 2024. Want to learn more about 6947 S Jeffery Boulevard? Do you have questions about finding other Commercial real estate for sale in South Shore? You can browse all South Shore real estate or contact a Coldwell Banker agent to request more information.