$ 895,000
5428 S Drexel AVE Chicago, IL 60615
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$ 895,000
Est. payment /mo
Active Under Contract
5428 S Drexel AVE Chicago, IL 60615
7 Beds
UPDATED:
09/13/2024 03:02 PM
Key Details
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 12054666
Bedrooms 7
Maintenance Fees $750
Year Built 1913
Annual Tax Amount $9,873
Tax Year 2022
Lot Dimensions 130X24
Property Description
$50K price reduction from $945K to $895K! Completely renovated LEGAL 3 flat 1 block from U of C campus and 2 blocks from the future $815 million University of Chicago Medicine cancer center in Hyde Park. All units have been remodeled which include 3bd/2bath top floor, 2bd/2bath middle floor, and 2Bd/1bath garden unit. $85K of rental income in-place ($7108/mo); with parking (vacant) would be ~$89K. So nearly 10x GRM deal in attractive Hyde Park! Renovations include copper and pvc plumbing, electric (new 200 amp electric service to building), kitchens, bathrooms, and appliances. All NEW pvc sewer line under the building, drain tile system throughout garden, water heaters (3), boilers (2nd and 1st floor), HVAC (garden), side secure metal gate, and rear balcony steel stairs. Garden unit (nearly finished and expected to be done in next couple weeks) has been completely remodeled to the studs with full plans and permits. Seller to close out all paperwork on permits prior to closing. Amazing opportunity for live in owner or investor with strong current rents and long term appreciation in this location. The University of Chicago ranked #12 Nationally in the United States last year and is home to roughly 18,500 students (undergrad and graduate).
Location
State IL
County Cook
Area Chi - Hyde Park
Rooms
Basement Full
Interior
Heating Natural Gas, Forced Air, Steam
Fireplace N
Exterior
Garage Detached
Garage Spaces 2.0
Waterfront false
Roof Type Flat
Building
Lot Description Fenced Yard
Dwelling Type Two to Four Units
Sewer Public Sewer
Water Public
New Construction false
Schools
School District 299 , 299, 299
Others
Ownership Fee Simple
Special Listing Condition List Broker Must Accompany
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Edward Liss • Triton Realty Group LLC