7031 Fairfield Avenue, Chicago Lawn, Chicago, Illinois 60629
$315,000
|
Sold
|
|
| Status: | Closed |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 6 |
| Baths: | 0 |
| Year Built: | 1927 |
| Property Taxes: | $3,582 |
| Days On Market: | 2192 |
| Lot Size: | 0,09 |
Description
- 8.02% In Place Cap Rate - Gross Income (w. 5% vacancy): $39,900 - NOI: $26,623 Kiser Group is pleased to exclusively present for purchase 7031 S. Fairfield, a four (4) unit walk-up building located in one of Chicago's most desirable southwest neighborhoods, Chicago Lawn. This property is tucked away on a quiet, tree lined street adjacent to both St. Adrian Church and Elementary School, and just two blocks west from Marquette Park. Additionally, this asset is steps away from public transportation and Western Avenues commercial corridor. 7031 S. Fairfield is comprised of two (2) 2Bd/1Ba units and two (2) 1Bd/1Ba units with hardwood flooring throughout and ample sized bedrooms and kitchens all heated by individual furnaces. Recent capital improvements to the building consist of, but are not limited to updated individual furnaces, a new roof, updated plumbing and electric, masonry and tuckpointing, along with a full cosmetic update to kitchens and baths. Furthermore, the building is equipped with a laundry facility in the lower level as well as covered garage parking suitable for two (2) vehicles in the back. 7031 S. Fairfield provides an investor with a rare opportunity to acquire a stabilized, strong cash flowing asset in a very desirable pocket of Chicago Lawn. From day one, a new owner will be able to take over a strong, fully occupied tenant base with exceptionally low expenses. With minimal gas and electricity bills, along with the City of Chicago's responsibility for garbage pickup, a new owner will capitalize on a robust in place cape rate in an appreciating neighborhood.
Property Specifics
| Multi-unit | |
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| 1927 | |
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| No | |
| 0.09 |
| Cook | |
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| — / — | |
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| — | |
| 10860044 | |
| 19244220070000 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 22 Dec, 2020 | Sold | $315,000 | MRED MLS |
| 1 Oct, 2020 | Under contract | $332,000 | MRED MLS |
| 15 Sep, 2020 | Listed for sale | $332,000 | MRED MLS |
Room Specifics
Total Bedrooms: 6
Bedrooms Above Ground: 6
Bedrooms Below Ground: 0
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
Dimensions: —
Floor Type: —
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Dimensions: —
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Full Bathrooms: 4
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Basement Description: Partially Finished
Other Specifics
| 2.5 | |
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| — | |
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| 33.5' X 125' | |
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| Not in DB | |
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| — |
Tax History
| Year | Property Taxes |
|---|---|
| 2020 | $3,582 |
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Listing Provided By
Kiser Group Realty Inc
