1242 South Albany Avenue

Chicago, IL 60623

$420,000
Last Sold Price
16
Beds
6
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This gorgeous 6 unit Graystone overlooking Douglas Park offers awesome rental potential with low expenses where you will depreciate, pay down principal, build equity and cash out on your investment- all while using rental income. All units rented m/m, long term, low turnover plus reliable: rents are lower than market can bear. Each unit has separate heat, gas and electric. Many updates have been made while preserving the classic architecture and original accents. Heaters replaced 12 years ago, Tuckpointed...This gorgeous 6 unit Graystone overlooking Douglas Park offers awesome rental potential with low expenses where you will depreciate, pay down principal, build equity and cash out on your investment- all while using rental income. All units rented m/m, long term, low turnover plus reliable: rents are lower than market can bear. Each unit has separate heat, gas and electric. Many updates have been made while preserving the classic architecture and original accents. Heaters replaced 12 years ago, Tuckpointed 5 years ago, Water Heater replaced 3 years ago. The building has a full length, full height, open, cemented basement. The property is a solid investment!
  1. Listed by Alexandro Camarena • Martinez Realty Group Inc

Sold By Martinez Realty Group Inc

Property Details for 1242 South Albany Avenue

Area
CHI - North Lawndale
Num Of Parking Spaces
0.0

Location

Add your commute
LISTING UPDATED: 12/22/2022 03:59 PM

Property Details for 1242 South Albany Avenue

StatusClosed
MLS #11423390
Days on Market201
Taxes$4,765 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Flats
Year Built1895
Lot Size0.08 AC / 3,484 SF
CountyCook County

Location

Add your commute

Building Information for 1242 South Albany Avenue

Stories-Residences6Year Built1895Building Size-Lot Size0.08 AC / 3,484 SF

Payment Calculator

$2,689 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,292

Property Taxes

$397

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1242 South Albany Avenue

General Information
Location and General Information
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Heat/Ventilation: Central Heat/Indiv Controls,Electric,Gas
  • Num of Baths: 6.0
Property/Lot Information
  • Tenant Pays: Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Flats
  • Lot Dimensions: 25X145
  • Stories: 3
  • Exterior Building Type: Brick, Stone
  • Construction: Brick, Stone
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 21
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: $300.00
  • Fuel Expense: $4,200.00
  • Gross Income: $63,540.00
  • Gross Scheduled Income: $63,540.00
  • Insurance Expense: $4,978.00
  • Maintenance Expense: $1,200.00
  • Electric Expense Source: Actual
  • Expense Year: 2020
  • Total Annual Expense Source: Combination
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 0
  • Repairs-Decor Expense Source: Owner Projection
  • Trash Expense Source: Actual
  • Total Monthly Income: 5295
  • Water Expense Source: Actual
  • Net Operating Income: $40,297.00
  • Operating Expense: $18,478.00
  • Other Expense: $.00
  • Trash Expense: $2,400.00
  • Water Sewer Expense: $5,400.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 2
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 3
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 1
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
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 1242 South Albany 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 1242 South Albany Avenue

Taxable ValueLand$4,259Additions$16,740Total$20,999
Tax Record2022$4,334 ($361 / month)
Home Facts
Baths6Total Finished SqFt7,260 SqFtAbove Grade Finished SqFt7,260 SqFtStories3Lot Size3,625 SqFtStyleMulti-Family Res (5+ Units)Year Built1893CountyCOOKAPN16-24-101-036

Schools near 1242 South Albany 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 - 9 to 12
Charter - 8 to 12
Rating
School
Distance
Johnson Elementary School
PublicPK to 8

Manley Career Academy High School
Public9 to 12

North Lawndale Prep Chtr-Collins
Charter9 to 12

North Lawndale Charter High School
Charter8 to 12

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

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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 Martinez Realty Group Inc

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 12/22/2022 03:59 PM. 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.