7436 S Colfax Avenue
Chicago, IL 60649

Status: Active Under Contract
Multi Family
8 beds
0 baths
0 sq.ft
Listing Price: $395,000

About this home

Seize a prime investment opportunity in Chicago's historic South Shore neighborhood with this large, beautiful 3-flat building, minutes from the lakefront and the anticipated Obama Presidential Center. Ideal for investors or first-time home buyers looking to occupy one unit and rent the others, this property combines functionality with potential. The building features huge units equipped with stainless steel appliances, with the top two boasting granite countertops and tile backsplashes, blending practicality with style. High quality, low maintenance and modern touches make it an excellent investment. Separate utilities for heating and electricity ensure ease of management and individual cost control. The potential to duplex the first floor with basement offers additional versatility for enhancing living space or capture additional rental income. With attractive financing options, including new loan programs with as little as 5% down and grants for first-time homebuyers, ownership is within reach. Priced to sell, this property is a smart choice for those looking to invest in a neighborhood known for its community spirit and historical value. Don't miss your chance to own in South Shore!!

Property details

Virtual Tour, Parking / Garage, Exterior Features, Multi-Unit Information
Age 100+ Years
3 Bedroom Unit in Building Yes
Approx Year Built 1920
Exterior Building Type Brick
Parking None
Rehab Year 2017
MRD Virtual Tour None
School / Neighborhood, Utilities, Financing, Location Details
Area Major CHI - South Shore
Zoning Type MULTI
Corporate Limits Chicago
Directions 75th E or W to Colfax, N to 7436
Elementary Sch Dist 299
Heat/Fuel Natural Gas
High Sch Dist 299
Sewer Public Sewer
Water Lake Michigan, Public
Jr High/Middle Dist 299
Township Hyde Park
Interior Features
Basement Description Unfinished
Basement Full
Bedrooms Count 8
Bedrooms Possible 8
Baths Count 3
Full Baths in Building Count 3
Total Rooms 17
Units
unit 1
Beds Total 2
Baths Total 1
Actual Rent 1100
Appliances And Features Stove, Refrigerator
Full Baths Total 1
Lease Expiration Date MTM
Rooms Total 5
Tenant Pays Electric, Gas, Heat
Floor Number 1
Square Feet 1200
unit 2
Beds Total 3
Baths Total 1
Actual Rent 1300
Appliances And Features Stove, Refrigerator
Full Baths Total 1
Lease Expiration Date MTM
Rooms Total 6
Tenant Pays Electric, Gas, Heat
Floor Number 2
Square Feet 1400
unit 3
Beds Total 3
Baths Total 1
Actual Rent 1400
Appliances And Features Stove, Refrigerator
Full Baths Total 1
Lease Expiration Date MTM
Rooms Total 6
Security Deposit 1400
Tenant Pays Electric, Gas, Heat
Floor Number 3
Property / Lot Details
Lot Dimensions 34 X 117
Lot Size Less Than .25 Acre
Ownership Fee Simple
Type Unit 3 Flat, 3 Story Unit/s
Number Of Units in Building 3
Property Type Two to Four Units

Financials

Investment Profile Residential Income

Tax/Assessments/Liens

PIN 21301180120000
Special Assessments N
Taxes $2,999
Tax Exemptions None
Tax Year 2022
$395,000 Listing Price:
MLS # 12006879
Investment Profile Residential Income
Listing Market Time 39 days
Basement Full
Type Unit 3 Flat, 3 Story Unit/s
Number of Units in Building 3
Parking None
List Date 03/22/2024
Year Built 1920
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