113 North 16th Avenue

Melrose Park, IL 60160

$330,000
Price
5
Beds
3
Baths
1
1/2 Bath
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Investor's Dream in Prime Melrose Park Location! This meticulously maintained 2-unit building, promises not only immediate returns but also substantial future income. Situated in an excellent location, this property stands as a testament to smart real estate investing. With a strong history of generating revenue. Recent upgrades, including a brand-new electrical system and HVAC, ensure efficiency and cost savings for years to come. Thoughtful remodeling has added a fresh, appealing aesthetic, attracting...Investor's Dream in Prime Melrose Park Location! This meticulously maintained 2-unit building, promises not only immediate returns but also substantial future income. Situated in an excellent location, this property stands as a testament to smart real estate investing. With a strong history of generating revenue. Recent upgrades, including a brand-new electrical system and HVAC, ensure efficiency and cost savings for years to come. Thoughtful remodeling has added a fresh, appealing aesthetic, attracting quality tenants. Each unit enjoys its own separate utility meters, including water, providing convenience and transparency for both landlord and tenants. Situated on a double lot, there's ample room for outdoor parking and amenities. This property is being sold in As Is Condition, presenting an opportunity for investors to capitalize on potential value-add improvements. Nestled in the heart of Melrose Park, this property is surrounded by a thriving community and offers easy access to amenities, schools, and transportation. With its income-generating potential, recent upgrades, and strategic location, this property is poised to be a lucrative addition to any investor's portfolio. Don't miss out on this prime investment opportunity.
  1. Listed by Fernando Arreguin • Alexander Realty LLC

Property Details for 113 North 16th Avenue

Area
Melrose Park
Township
Proviso
Ownership
Fee Simple
Num Of Garage Spaces
2.0
Num Of Parking Spaces
8.0
Heat/Fuel
Natural Gas, Forced Air

Location

Listing Courtesy of Alexander Realty LLC
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LISTING UPDATED: 03/28/2024 03:18 PM

Property Details for 113 North 16th Avenue

StatusContingent
MLS #11921632
Days on Market168
Taxes$8,942 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeTwo to Four Units / 2 Flat
Year Built1882
Lot Size0.15 AC / 6,500 SF
CountyCook County

Location

Listing Courtesy of Alexander Realty LLC
Add your commute

Building Information for 113 North 16th Avenue

Stories-Residences2Year Built1882Building Size-Lot Size0.15 AC / 6,500 SF

Payment Calculator

$2,546 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,801

Property Taxes

$745

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 113 North 16th Avenue

General Information
School Information
  • Elementary School District: 89
  • Elementary School: Melrose Park Elementary School
  • Jr High Middle School: Melrose Park Elementary School
  • High School District: 209
  • High School: Proviso East High School
  • 2nd Alternate High School: Proviso Mathematics and Science Academy
  • Middle Or Junior School District: 89
Addtl Parking Information
  • Garage On Site: true
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage, Space/s
  • Parking On Site: true
  • Parking Ownership: Owned
  • Open Parking Spaces: 6.0
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Num Of Rooms: 12
  • Bedrooms (Below Grade): 0
  • Basement Type: None
  • Bedrooms Possible: 5
  • Basement Description: None
  • Basement Bathrooms: No
  • # Full Baths in Building: 3
  • # Half Baths in Building: 1
  • Num of Baths: 3.1
Utilities / Equipment
  • Sewer: Sewer-Public
  • Water: Public
Property/Lot Information
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: Yes
  • Rehab Year: 2022
  • Built Before 1978: Yes
  • Age: 100+ Years
  • Lot Size: Less Than .25 Acre
  • Lot Dimensions: 52 X 125
  • Total # Units in Building: 2.0
  • Waterfront: No
  • Exterior Building Type: Vinyl Siding
  • General Information: None
  • 3 Br Un In Bldg: No
Property and Assessments
  • Buyer Financing: Conventional, Cash
  • Public Document Count: 1
  • Document Date: 2023-12-14T17:55:29
  • Photos Count: 69
  • OpenHouse Count: 0
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Income & Expenses
  • Gross Income: $31,200.00
Unit 1
  • Unit Type Actual Rent: $1,400.00
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Lease Expiration Date: M/M
Unit 2
  • Unit Type Actual Rent: $1,200.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Lease Expiration Date: M/M

Property History for 113 North 16th 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 113 North 16th Avenue

Taxable ValueLand$2,557Additions$23,985Total$26,542
Tax Record2022$8,179 ($682 / month)
Home Facts
Baths3Total Finished SqFt3,255 SqFtAbove Grade Finished SqFt3,255 SqFtStories3Lot Size3,300 SqFtStyleMulti-Family Res (5+ Units)Year Built1882CountyCOOKAPN15-10-215-013

Schools near 113 North 16th Avenue

This home is within Proviso Twp Hsd 209 School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - PK to 7
Rating
School
Distance
Lincoln Elementary School
PublicPK to 5

Stevenson Middle School
Public6 to 8

Proviso East High School
Public9 to 12

Washington Dual Language Academy
PublicPK to 7

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 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 Alexander Realty 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.