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Listing 19 out of 3,218
$3,275,000 For Sale

4342 South Ellis Avenue
Chicago, IL 60653

40 units | Multi Family Home
9148 sq ft - MLS# 10323065
Property Photo
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Description

Rare opportunity to acquire a gut rehabbed 40-unit multifamily property in Chicago's historic North Kenwood/Bronzeville area. The building unique architectural features on the exterior and interior, including a restored foyer and common area, and beautiful common hallways with hardwood floor. Rehab finishes include click-and-lock laminate flooring where needed or refinishing existing hardwood floors if possible, granite countertops, stainless steel appliances, new kitchen cabinetry, flush mount light fixtures, new bathroom vanities and tile floors. Existing unit finishes consist of formica countertops, a mixture of kitchen appliances along with a mix of carpet and wood flooring The unit mix is as follows: 27 studio units 12 1bed/1bath units 1 2bed/1bath units The property is currently 93% occupied with all three vacant units currently being renovated. The building has a central boiler heating system, one 100-gallon hot water tank and common coin-operated laundry facilities.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family 5+
  • Listing Status: Active
  • County/Area: Cook County
  • Zip Code: 60653
  • Year Built: 1923
  • Sq.Ft.: 27,801 sq ft
  • Units: 40 units
  • Lot Size: 9148 sq ft
  • Zoning: MULTI
  • # Of Bdrms - Unit 1: 2
  • # Of Bdrms - Unit 2: 1
  • # Of Dryers: 3
  • # Of Full Bthrms - Type 1: 1
  • # Of Full Bthrms - Type 2: 1
  • # Of Full Bthrms - Type 3: 1
  • # Of Ranges: 40
  • # Of Refrigs: 40
  • # Of Rooms - Unit 1: 4 Rooms
  • # Of Rooms - Unit 2: 3 Rooms
  • # Of Rooms - Unit 3: 2 Rooms
  • # Of Stories: 4
  • # Of Units - Apt. Type 1: 1
  • # Of Units - Apt. Type 2: 12
  • # Of Units - Apt. Type 3: 27
  • # Of Washers: 3
  • Approximate Age: New Rehab
  • Built Before 1978 (Y/N): Yes
  • Construction: Brick
  • Electricity Expense: $3,000
  • Exterior Building Type: Brick
  • Fuel Expense: $16,674
  • Gross Rent Multiplier: 8.6
  • Heat/Ventilation: Gas
  • Insurance Expense: $13,000
  • Janitor Expense: $2,500
  • Lot Dimensions: 62 X 150
  • Lot Sq Ft: 9267
  • Monthly Income - 1: $950
  • Monthly Income - 2: $825
  • Monthly Income - 3: $625
  • Monthly Income Max - 1: $950
  • Monthly Income Max - 2: $895
  • Monthly Income Max - 3: $750
  • Net Operating Income Year: $2,018
  • Repairs-Decor Expense: $12,000
  • Tax Year: 2017
  • Taxes: $20,974
  • Tenant Pays: Electric
  • Total Annual Exp: 105055
  • Total Annual Income: $380,520
  • Total Monthly Income: $31,710
  • Township: Hyde Park
  • Type Multi-Family: Corridor-Interior Entrance, Flats
  • Water Expense: $14,781
Courtesy of Atlas Asset Management Realty Llc
Daniel And Associates Real Estate
465 East Roosevelt Road
West Chicago, IL 60185

Office:  630-231-8090
Office:  630-393-1700

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