708 South Grove Avenue

Oak Park, IL 60304

$668,000
Price
5
Beds
3
Baths
1
1/2 Bath
3,250 Sq. Ft.
$206 / Sq. Ft.
3,250
Sq. Ft.
$206
per Sq. Ft.

Description

This property is a rare find - it functions beautifully as an investment property and could also be perfect for multi-generational living. The icing on the cake is the coach house over the garage that currently operates as a successful airbnb that generates approx. $25000/year in additional income! With the growing demand for short-term rentals, capitalize on the opportunity to generate substantial rental income from the Airbnb accommodations while enjoying the stability of long-term tenants in the...This property is a rare find - it functions beautifully as an investment property and could also be perfect for multi-generational living. The icing on the cake is the coach house over the garage that currently operates as a successful airbnb that generates approx. $25000/year in additional income! With the growing demand for short-term rentals, capitalize on the opportunity to generate substantial rental income from the Airbnb accommodations while enjoying the stability of long-term tenants in the main residence. Whether utilized as an Airbnb rental, guest suite, or home office, this versatile space offers endless possibilities. The owner's unit is a large 9 room, 3+ bdrm, 2.1 bath apartment which is duplexed into the basement, It includes a family room and an office/4th bedroom (rent expected to be approx $3,400 per month) . The 2nd floor apartment is a 2 bedroom, 1 bath apartment that has tenants you would love to keep. Heat (gas) is metered separately so each unit pays for their own heat and electric. Both units have been upgraded with newer kitchens and baths. The 1st floor unit has a large primary bedroom with an en-suite bath and walk-in closet). Each unit has its own furnace, central air, and washer & dryer. The home is situated on a generous 50' lot - it has plenty of green space and beautiful gardens as well as a great slate stone patio. Parking available for 4 cars --2 in the over-sized garage and 2 exterior spaces. This property has been lovingly maintained by the current owner-occupants for many years, and they have invested significantly in updates to major systems. Recent improvements include. Pella windows throughout; Stucco replacement/repair, exterior painting, newer roof, newer garage (including concrete pad and parking pad) both furnaces (under 5 yrs old), flood control system, electrical & plumbing updates. All of the heavy-lifting has already been done. This Property is in an ideal location, in an active and fun residential neighborhood, just steps to the Southtown Oak Park Ave Business District, with its many shopping and dining options, and less than 2 blocks to the Blue Line. Don't miss out on this rare chance to own a investment property with dual income potential. Whether you are an investor looking to expand your portfolio or a homeowner seeking supplemental income, this property offers endless possibilities.
  1. Listed by Jane McClelland • RE/MAX In The Village

Property Details for 708 South Grove Avenue

Area
Oak Park
Township
Oak Park
Ownership
Fee Simple
Num Of Garage Spaces
2.0
Num Of Parking Spaces
4.0
Parking Included in Price
Yes
Heat/Fuel
Natural Gas

Location

Listing Courtesy of RE/MAX In The Village
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LISTING UPDATED: 05/21/2024 11:34 AM

Property Details for 708 South Grove Avenue

StatusContingent
MLS #12049915
Days on Market5
Taxes$11,306 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeTwo to Four Units / 2 Flat
Year Built1919
Lot Size0.14 AC / 6,250 SF
CountyCook County

Location

Listing Courtesy of RE/MAX In The Village
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Building Information for 708 South Grove Avenue

Stories-Residences2Year Built1919Building Size-Lot Size0.14 AC / 6,250 SF

Payment Calculator

$4,588 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,646

Property Taxes

$942

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 708 South Grove Avenue

General Information
School Information
  • Elementary School District: 97
  • Elementary School: Abraham Lincoln Elementary Schoo
  • Jr High Middle School: Gwendolyn Brooks Middle School
  • High School District: 200
  • High School: Oak Park & River Forest High Sch
  • Middle Or Junior School District: 97
Addtl Parking Information
  • Garage Details: Garage Door Opener(s), 7 Foot or more high garage door
  • Garage On Site: true
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage, Space/s
  • Parking Details: Off Alley
  • Parking On Site: true
  • Parking Ownership: Owned
  • Open Parking Spaces: 2.0
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Num Of Rooms: 16
  • Bedrooms (Below Grade): 0
  • Basement Type: Full
  • Bedrooms Possible: 5
  • Basement Description: Finished
  • # Full Baths in Building: 3
  • # Half Baths in Building: 1
  • Room Type: Loft, Utility Room-Lower Level
  • Num of Baths: 3.1
Utilities / Equipment
  • Sewer: Sewer-Public
  • Water: Lake Michigan
  • Other Equipment: Humidifier, Central Vacuum, Ceiling Fan(s), Sump Pump
Property/Lot Information
  • Exterior Property Features: Patio
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: Yes
  • Rehab Year: 2015
  • Built Before 1978: Yes
  • Age: 100+ Years
  • Lot Description: Fenced Yard
  • Lot Size: Less Than .25 Acre
  • Lot Dimensions: 50 X 125
  • Total # Units in Building: 2.0
  • Waterfront: No
  • Exterior Building Type: Stucco
  • Roof Type: Asphalt
  • Foundation Details: Concrete Perimeter
  • General Information: Commuter Bus,Commuter Train
  • North Coordinate: 0
  • South Coordinate: 0
  • East Coordinate: 0
  • West Coordinate: 8
  • 3 Br Un In Bldg: Yes
  • Conversion: N
Property and Assessments
  • Buyer Financing: Conventional, FHA, VA
  • Public Document Count: 3
  • Document Date: 2024-05-19T15:37:46
  • Photos Count: 46
  • Deconversion: N
  • OpenHouse Count: 2
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Income & Expenses
  • Gross Income: $49,480.00
  • Insurance Expense: $2,178.00
  • Insurance Expense Source: Actual
  • Other Addl Income: Other
  • Trash Expense Source: Owner Projection
  • Trash Expense Year: 2023
  • Water Sewer Expense: $2,400.00
Unit 1
  • Unit Type Actual Rent: $.00
  • Unit Type Baths Total: 3
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Lease Expiration Date: OWNER
Unit 2
  • Unit Type Actual Rent: $2,040.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Lease Expiration Date: MO/MO

Property History for 708 South Grove Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 708 South Grove Avenue

Taxable ValueLand$6,250Additions$26,613Total$32,863
Tax Record2021$11,051 ($921 / month)
Home Facts
Baths2Total Finished SqFt2,351 SqFtAbove Grade Finished SqFt2,351 SqFtStories2Lot Size6,250 SqFtStyleMulti-Family Res (5+ Units)Year Built1918CountyCOOKAPN16-18-125-003

Schools near 708 South Grove Avenue

This home is within Oak Park - River Forest School District 200.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Private - PK to 8
Rating
School
Distance
Abraham Lincoln Elementary School
PublicK to 5

Gwendolyn Brooks Middle School
Public6 to 8

Oak Park & River Forest High School
Public9 to 12

Ascension
PrivatePK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX In The Village

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 05/21/2024 11:34 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.