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7550 S Kingston Avenue, Chicago, IL 60649
$450,000
7550 S Kingston Avenue, Chicago, IL 60649View this property at 7550 S Kingston Avenue, Chicago, IL 60649
7550 S Kingston AvenueChicagoIL60649
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Property Description
This Beautiful 17 units features (3) 3bed 2bath Units (9) 2bed 2bath Units (3) 2bed 1bath Units (1) 1bed 1bath (1) Studio with 1bath apartment. The first 12 units are abnormally large with living room, dining room, plenty of closet space and a separate kitchen. Based on completion numbers, the property should generate $23,050/mo after renovation. Thats $276,600 per year. If you put in individual furnaces & individual hot water tanks, conservatively, you would have a back end value of $2.3 million with a cap rate of 9%. Property needs full gut renovation with plans and permits to be city compliant. Numbers are ProForma. Court case present, plans and permits required.
Full Property Details
Full Property Details for 7550 S Kingston Ave
General
- Sold For: $450,000
- Taxes: $20,512 (2021)
- Status: Closed
- Type: Commercial
- MLS ID: 11822872
- Added to Site: 316 day(s) ago
Interior
- Interior Features: Storage Inside
Additional Information
- Security/Safety: Fire Extinguisher(s), Smoke or Fire Protectors
Location
- Area: CHI - South Shore
- County: Cook
- Driving Directions: Take South Shore Drive to 75th Street. West to Kingston, south to building.
Heating & Cooling
- Heating Type: Steam
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Stories/Levels: 3
- Current Bldg. Use: Multi-Family
- Year Built: 1920
- Built Before 1978: Yes
Lot Features
- Lot Dimensions: 100 x 125
- Potential Use: Commercial, Multi-Family
- Zoning: MULTI
Financial Considerations
- Operating Expenses: $65,542
- Security Deposit: Fire Extinguisher/s, Smoke or Fire Protectors
- Assessment Year: 1920
- Tax Amount: $20,512
- Tax Year: 2021
- Tenant Pays: Electricity, Other
Disclosures and Reports
- Property ID: 21303020160000
Listed and Sold by Blue Door Dave Inc
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Schools
Schools serving 7550 S Kingston Ave
School District:Chicago Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
7736 S Burnham Ave, Chicago, IL 60649 | PK-8 | 0.4 mi | |
2100 E 87th St, Chicago, IL 60617 | 9-12 | 1.5 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 7550 S Kingston Ave
Date
Details
Price
Change
Source
12/01/2023
Sold
$450,000
-10%
MLS
7/05/2023
Listed
$500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
7550 S Kingston Avenue, Chicago, IL 60649 (MLS# 11822872) is a Commercial property that was sold at $450,000 on December 01, 2023. Want to learn more about 7550 S Kingston Avenue? 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.