7900 South Drexel Avenue

Chicago, IL 60619

$839,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Perfect Property For New And Experienced Investors! Don't miss out on this newly remodeled building that features 6 apartments and 8 retail/office storefronts equalling 15 income producing units. The 6 residential units are one 2bed/1bath, and five 1 bed/1bath. 5 apartment units have been renovated with individual gas forced heat and hot water heaters. 8 storefronts also have gas forced heat and central air. Tenant Pays cooking gas, heat, elec. Owner pays ins, tax, water. Conveniently located to...Perfect Property For New And Experienced Investors! Don't miss out on this newly remodeled building that features 6 apartments and 8 retail/office storefronts equalling 15 income producing units. The 6 residential units are one 2bed/1bath, and five 1 bed/1bath. 5 apartment units have been renovated with individual gas forced heat and hot water heaters. 8 storefronts also have gas forced heat and central air. Tenant Pays cooking gas, heat, elec. Owner pays ins, tax, water. Conveniently located to Metra 79th St Station and Interstate. Walk into this deal with equity! Property located in a opportunity zone area so there are many city grants available. There is potential for more income once the 2 vacancies are filled. 2 apartments are vacant. There has been a ton of work and repair done due to the city of Chicago violations. There is still a few repairs and updates the new owner will need to take over which is why we are selling at a discount. please contact me if you have any questions.... we have started the process with attorney to challenge the taxes and get a reduction in yearly taxes.... Opportunity Zone and tons of Equity! buildings are selling for close to 1 million plus attached is the OM with the rent roll and comps
  1. Listed by Candice Payne • 5th Group Corp

Property Details for 7900 South Drexel Avenue

Area
CHI - Chatham
Township
Hyde Park
Zoning
OTHER

Location

Listing Courtesy of 5th Group Corp
Add your commute
LISTING UPDATED: 04/07/2024 12:06 AM

Property Details for 7900 South Drexel Avenue

StatusActive
MLS #12017648
Days on Market75
Taxes$21,875 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1925
Lot Size0.18 AC / 7,841 SF
CountyCook County

Location

Listing Courtesy of 5th Group Corp
Add your commute

Building Information for 7900 South Drexel Avenue

Stories-Residences15Year Built1925Lot Size0.18 AC / 7,841 SF

Payment Calculator

$6,402 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,579

Property Taxes

$1,823

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7900 South Drexel Avenue

General Information
Addtl Parking Information
  • Open Parking Spaces: 0.0
Location and General Information
  • Geographic Locale: Chicago Southwest
  • Information: Show-Courtesy Key
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air, Central Individual
  • Electric: Circuit Breakers
  • Heat/Ventilation: Forced Air,Gas
  • # Of Refrigerators: 6
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 6
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 56 X 125
  • Lot Size Square Feet: 7841.0
  • Stories: 2
  • Exterior Building Type: Brick, Glass
  • Construction: Brick, Steel Siding
  • Roof Type: Rubber
  • Fire Protection: Fire Extinguisher/s
  • Roof Structure: Flat
  • Building Area Total: 9952
  • # Of Offices: 0
  • # Of Ranges: 6
  • # Of Stores: 9
Property and Assessments
  • Possible Use: Commercial, Office and Research, Multi-Family, Retail, Special Use
  • Public Document Count: 0
  • Photos Count: 21
Miscellaneous
  • Current Use: Special Use
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 15
Income & Expenses
  • Electric Expense: $500.00
  • Fuel Expense: $200.00
  • Gross Income: $190,080.00
  • Gross Scheduled Income: $190,080.00
  • Insurance Expense: $14,500.00
  • Electric Expense Source: Owner Projection
  • Total Annual Expense Source: Owner Projection
  • Fuel Expense Source: Owner Projection
  • Insurance Expense Source: Owner Projection
  • Net Operating Income Year: 2023
  • Other Expense Source: Owner Projection
  • Trash Expense Source: Owner Projection
  • Total Monthly Income: 15840
  • Water Expense Source: Owner Projection
  • Net Operating Income: $61,000.00
  • Operating Expense: $62,200.00
  • Other Expense: $1,000.00
  • Trash Expense: $1,200.00
  • Water Sewer Expense: $5,400.00

Property History for 7900 South Drexel Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 7900 South Drexel Avenue

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - 6 to 12
Charter - K to 8
Rating
School
Distance
Ashe Elementary School
PublicPK to 8

Hirsch Metropolitan High School
Public9 to 12

Gary Comer College Prep
Charter6 to 12

CICS Avalon
CharterK 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.

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7900 South Drexel Avenue is a mixed use property for sale in Chicago, IL 60619. This property was listed for sale on April 1, 2024 by 5th Group Corp, it's currently listed at $839,000. It has been on the market for a total of 75 days and was last sold on September 12, 2022. This listing's school district is City Of Chicago School District 299. Nearby schools include Ashe Elementary School, Hirsch Metropolitan High School and Gary Comer College Prep. 7900 South Drexel Avenue is a 0-bed, 0-bath, mixed use property built in 1925.

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 5th Group Corp

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 04/07/2024 12:06 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.