7308 Crandon Avenue

    Chicago, IL 60649
    • $1,595,000
    • STATUS: Active
    • ON SITE: 3 days
    • MLS #: 10569588
    New On Site 3 Days Ago
    UPDATED: 60 min ago
    $1,595,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 19,100
      SQFT
    • $84
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1923
    County:

    School Ratings & Info

    Description

    34-unit mixed-use property in Chicago's South Shore neighborhood. The Subject property is a three-story, masonry, corner building that is four blocks away the South Shore Cultural Center, South Shore Golf Course and five blocks from the shores of Lake Michigan. Ownership acquired the Property in July-2016. Since acquisition, ownership has fully renovated six of the apartment units and is in the process of getting the two small (800-SF), vacant commercial spaces rent-ready. Additionally, all new lintels were installed throughout the building, along with a new roof and new rear porch systems. The property is 88% occupied. Currently, there are a total of four vacant units - two residential apartments and two commercial units. All apartment units feature hardwood floors, with tile in the kitchens and baths. There is one commercial tenant which occupies five of the seven commercial units. These units have been combined into one connected space. The commercial tenant has leased the space for seven years. The rear of the property contains a loading/parking area as well as 6 individual garages. Each apartment is separately heated by way of baseboard units. The building has a central hot water tank, located in the building basement area. There are several large, clean, dry basement areas that provide investors with a great opportunity to add value in the form of tenant amenities, such as storage units and laundry facilities.

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    © 2019 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or The Perotti Group | Compass Real Estate. Based on information submitted to the MRED as of 2019-11-12T20:51:29.453 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    www.theperottigroup.com/homes/100674634

    7308 Crandon Avenue Chicago, IL 60649

    • Price: $1,595,000
    • Status: Active
    • Updated: 60 min ago
    • MLS #: 10569588
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    19,100
    SQFT
    $84
    $/SQFT
    1923
    Built
    Neighborhood:
    Chi - South Shore
    County:
    Cook
    Area:
    Chi - South Shore
    Property Description
    34-unit mixed-use property in Chicago's South Shore neighborhood. The Subject property is a three-story, masonry, corner building that is four blocks away the South Shore Cultural Center, South Shore Golf Course and five blocks from the shores of Lake Michigan. Ownership acquired the Property in July-2016. Since acquisition, ownership has fully renovated six of the apartment units and is in the process of getting the two small (800-SF), vacant commercial spaces rent-ready. Additionally, all new lintels were installed throughout the building, along with a new roof and new rear porch systems. The property is 88% occupied. Currently, there are a total of four vacant units - two residential apartments and two commercial units. All apartment units feature hardwood floors, with tile in the kitchens and baths. There is one commercial tenant which occupies five of the seven commercial units. These units have been combined into one connected space. The commercial tenant has leased the space for seven years. The rear of the property contains a loading/parking area as well as 6 individual garages. Each apartment is separately heated by way of baseboard units. The building has a central hot water tank, located in the building basement area. There are several large, clean, dry basement areas that provide investors with a great opportunity to add value in the form of tenant amenities, such as storage units and laundry facilities.
    Exterior Features

    Construction BrickConcrete Foundation Concrete Lot Dimensions 100X125 Lot Sq Ft 12500 Number Of Parking Spaces 6

    Interior Features

    Air Conditioning None Fire Protection None Indoor Parking 6-12 Spaces Number Of Apts 27 Number Of Offices 7 Number Of Stores 0 Number Of Stories 3

    Property Features

    Age Older Built Before1978 YN Yes Electrical Service Circuit Breakers Electricity Expense 12800 Exterior Building Type Brick Fuel Expense 5900 Geographic Locale Chicago South Gross Rental Income Amount 240264 Heat Ventilation Central Bldg HeatSteam Insurance Expense 9450 Other Expenses 14600 Rental Price 0 Tax Year 2018 Taxes 23539 Tenant Pays Electric Total Annual Income 242424 Total Monthly Income 20022 Township Hyde Park Water Expense 6750

    Listing information © 2019 Midwest Real Estate Data LLC.
    Listing provided courtesy of Atlas Asset Management Realty Llc.


    © 2019 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or The Perotti Group | Compass Real Estate. Based on information submitted to the MRED as of 2019-11-12T20:51:29.453 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
    The Perotti Group | Compass Real Estate
    1643 N Milwaukee
    Chicago IL, 60647