ClosedPrice Reduced

$665,000

$705,000
7301 Michigan Avenue, Chicago, IL 60619
199 days
7301 Michigan Avenue·Chicago, IL 60619
1925Year Built
About This Home

Everybody wants Chatham, but only a few properties come up for sale that are in the heart of Chatham between State and King Drive. This 8-unit gem has been owned by one family since 1956. Has spacious units with dining rooms and large kitchens. There are 4 - 2 bedroom units and 4- 1bdrm units. Most units have dining rooms. Not found in the average commercial buildings. This property was built for family living. Has 4 car garage and ample rear yard for those lazy summer outdoor activities. Let's talk... This is a great building for a family or for an investor looking to get maximum return on investment. Cause everybody want to live in a community that shows the pride of ownership. Let's be clear, the current rents do not reflect earning potential because of long term tenants. The heirs have decided to give another owner the experience and pleasure of Chatham ownership. A Quiet block, close to schools, shopping and transportation. This is the heart of Chatham. A great place to raise a family or spend your retirement. No problem getting good tenants in this area. Come and see why Chatham is the most desirable far southside community in Chicago. This is an area with long term tenants and owners where neighbors really know each other. Buyers must be pre-qualified. No offer accepted without lender approval . This is not your typical apartment building. This property has been lovingly cared for by one family for more than sixty years. Roof was recently re-coated as part of regular maintenance program. Got a big family? This building is the answer to a prayer. This could be your ticket to generational wealth building.

MLS# 12192590Listed October 19, 2024Commercial Sale
Property Details

Beds & Baths

Size & Structure

Year Built1925
Lot Size60X125

Location

CountyCook
TownshipHyde Park
Zip Code60619

Financial

List Price$665,000
Original Price$705,000
Annual Taxes (2023)$9,327
Monthly Tax Est.$777
Parcel #20271140330000
Interior Features

Cooling

None

Basement

Unfinished
Exterior & Lot

Construction

Brick

Roof

Rubber

Foundation

Concrete Perimeter
Utilities & Parking

Water Source

Municipal Water

Electric

Circuit BreakersService - 101 to 200 Amps
Tax & Financial
Annual Taxes
$9,327
Tax Year 2023
Monthly Tax Est.
$777
per month
Price Reduced by $40,000
Original list price: $705,000
Property Location

7301 Michigan Avenue, Chicago, IL 60619 — Cook County

$665,000
7301 Michigan Avenue
VL
Vittoria Logli
Top Glenview Agent

IL License 475.178467 · (847) 810-8438

Quick Facts
199 days on market
60X125
$9,327/yr taxes
Price reduced $40,000
$4,272
estimated monthly payment
Principal & Interest
$3,495/mo
Property Tax
$777/mo
$665,000
20% — $133,000
3%50%
6.875%
3%12%
Loan Amount
$532,000
Down Payment
$133,000

* Estimated payment only. Actual rates, taxes, and insurance may vary. Contact a lender for a personalized quote.

Listed by
J.A. Gibson & Associates, Ltd.
Agent: Joyce Gibson
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