Last Sold Price
15 beds
1037 W Polk St, Chicago, IL 60607

Description

Centrally located in the Near West side at the heart of the UIC East Campus. Building generates cash flow for any level of investor and is being offered at 7.43 Cap Rate w GRM below 10. This property consists of six apartments with a diverse mix of layouts, including one 1-bedroom, two 2-bedroom, two 3-bedroom, and one 4-bedroom unit. Apartments feature hardwood floors, stainless steel or white kitchen appliances, laminate countertops, central HVAC, and in-unit laundry. Rear units enjoy access to...Centrally located in the Near West side at the heart of the UIC East Campus. Building generates cash flow for any level of investor and is being offered at 7.43 Cap Rate w GRM below 10. This property consists of six apartments with a diverse mix of layouts, including one 1-bedroom, two 2-bedroom, two 3-bedroom, and one 4-bedroom unit. Apartments feature hardwood floors, stainless steel or white kitchen appliances, laminate countertops, central HVAC, and in-unit laundry. Rear units enjoy access to outdoor decks. Recently renovated apartments offer a glimpse of the potential for modern upgrades throughout the building. Investors have the opportunity to significantly increase rental income by making few cosmetic updates if desired. Spacious laundry room in the rear units may present the potential to add a second full bathroom.
LISTING CLOSED: 08/18/2025 12:00 AM

  1. Listed by Michael Masterson • Essex 312, LLC
    P: (312) 961-1054 C: (312) 961-1054 michael@essex312.com

Property Details for 1037 West Polk Street

Status
MLS #
12319625
Days on Market
30
Taxes
$22,865 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Multi Family 5+ / Flats
Year Built
1885
Lot Size
0.06 AC / 2,600 SF
Area
CHI - Near West Side
Air Conditioning Type
Central Air

Location

Add your commute

Building Information for 1037 West Polk Street

Stories3Residences6Year Built1885Building Size-Lot Size0.06 AC / 2,600 SF

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$9,936 per month

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Principal and Interest

$8,031

Property Taxes

$1,905

HOA Dues

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Property Information for 1037 West Polk Street

General Information
Location and General Information
  • Information: List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air
  • Electric: Circuit Breakers, Service - 101 to 200 Amps
  • # Of Washers: 5
  • Heat/Ventilation: Forced Air,Gas
  • # Of Refrigerators: 6
  • Washer/Dryer Lsd: No
  • # Of Dryers: 5
  • # Of Dishwashers: 6
  • Num of Baths: 6.3
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Flats
  • Lot Dimensions: 26' X 100'
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Roof Structure: Flat
  • # Of Ranges: 6
Property and Assessments
  • Public Document Count: 1
  • Document Date: 2025-03-24T19:03:21
  • Photos Count: 36
Miscellaneous
  • Current Use: Multi-Family
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
Income & Expenses
  • Electric Expense: $480.00
  • Fuel Expense: $.00
  • Gross Income: $162,600.00
  • Gross Scheduled Income: $162,600.00
  • Insurance Expense: $3,400.00
  • Maintenance Expense: $2,900.00
  • Manager Expense: $7,959.00
  • Electric Expense Source: Actual
  • Expense Year: 2023
  • Total Annual Expense Source: Combination
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 1200
  • Manager Expense Source: BP
  • Other Expense Source: Broker Projection
  • Repairs-Decor Expense Source: Broker Projection
  • Trash Expense Source: Actual
  • Total Monthly Income: 13550
  • Water Expense Source: Actual
  • Net Operating Income: $118,073.00
  • Operating Expense: $41,104.00
  • Other Expense: $1,700.00
  • Trash Expense: $120.00
  • Water Sewer Expense: $1,680.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 1
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 2
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 2
Unit 4
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 4
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 1
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 1037 West Polk Street

DateEvent & SourcePriceAppreciation
Aug 18, 2025

Sold

MRED #12319625

$1,580,000
Jul 31, 2025

Sold (Public Record)

Public Record #1915310599

$1,580,000
Apr 22, 2025

Pending

MRED #12319625

DateEvent & SourcePrice
08/18/2025

Sold

MRED #12319625

$1,580,000
07/31/2025

Sold (Public Record)

Public Record #1915310599

$1,580,000
04/22/2025

Pending

MRED #12319625

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

Public Records for 1037 West Polk Street

Taxable ValueLand$14,560Additions$103,440Total$118,000
Tax Record2023$22,865 ($1,905 / month)
Home Facts
Baths6Total Finished SqFt5,882 SqFtAbove Grade Finished SqFt5,882 SqFtStories3Lot Size2,600 SqFtStyleMulti-Family Res (5+ Units)Year Built1883Year Renovated1885ZoningRT-4CountyCOOKAPN17-17-420-006-0000

Schools near 1037 West Polk Street

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - K to 8
Public - K to 8
Rating
School
Distance
Smyth J Elementary School
PublicPK to 8

Wells Community Academy High School
Public9 to 12

Chicago World Language Academy
PublicK 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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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Essex 312, LLC

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. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 08/22/2025 03:02 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.