1256 South Independence Boulevard

Chicago, IL 60623

$1,999,000
Price
45
Beds
18
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This is a fantastic opportunity to acquire a partially gut-rehabbed building located on Independence Boulevard right in the up-and-coming neighborhood of North Lawndale. This 18-unit building offers a great unit mix of 2,3 and 4-bedroom units. All units are individually metered and offer very spacious layouts. The building has 12 units of 2BR/1BA, 3 units of 3BR/1BA and 3 units of 4BR/1BA. The basement has a coin laundry room with 3 washers and 3 dryers. Security cameras have been installed around...This is a fantastic opportunity to acquire a partially gut-rehabbed building located on Independence Boulevard right in the up-and-coming neighborhood of North Lawndale. This 18-unit building offers a great unit mix of 2,3 and 4-bedroom units. All units are individually metered and offer very spacious layouts. The building has 12 units of 2BR/1BA, 3 units of 3BR/1BA and 3 units of 4BR/1BA. The basement has a coin laundry room with 3 washers and 3 dryers. Security cameras have been installed around the building. 8 units have been upgraded in the last year. Each unit has its own gas meter, water heater, and electric meter. For investors looking for a value add, there is space to add 6 more garden units. The current monthly rent roll is over $22,000 with 100% occupancy. At Asking price it's a 10 CAP!
  1. Listed by Lawrence Dunning • Main Street Real Estate Group

Property Details for 1256 South Independence Boulevard

Area
CHI - North Lawndale

Location

Listing Courtesy of Main Street Real Estate Group
Add your commute
LISTING UPDATED: 04/20/2024 05:22 PM

Property Details for 1256 South Independence Boulevard

StatusActive
MLS #11993438
Days on Market60
Taxes$24,754 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Other
Year Built1909
Lot Size0.20 AC / 8,848 SF
CountyCook County

Location

Listing Courtesy of Main Street Real Estate Group
Add your commute

Building Information for 1256 South Independence Boulevard

Stories-Residences18Year Built1909Building Size-Lot Size0.20 AC / 8,848 SF

Payment Calculator

$12,972 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,909

Property Taxes

$2,063

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1256 South Independence Boulevard

General Information
Addtl Parking Information
  • Open Parking Spaces: 0.0
Location and General Information
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Heat/Ventilation: Central Bldg Heat,Central Heat/Indiv Controls,Gas
  • Num of Baths: 18.0
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Other
  • Lot Dimensions: 56X158
  • Stories: 3
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 32
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 18
Income & Expenses
  • Electric Expense: $4,560.00
  • Fuel Expense: $1,920.00
  • Gross Income: $269,916.00
  • Gross Scheduled Income: $269,916.00
  • Insurance Expense: $2,661.00
  • Maintenance Expense: $18,000.00
  • Janitor Expense: 3000
  • Total Monthly Income: 22493
  • Net Operating Income: $199,153.00
  • Operating Expense: $70,763.00
  • Other Expense: $600.00
  • Trash Expense: $4,168.00
  • Water Sewer Expense: $10,800.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 12
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: 4
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 3
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 1256 South Independence Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1256 South Independence Boulevard

Taxable ValueLand$9,539Additions$78,951Total$88,490
Tax Record2018$17,536 ($1,461 / month)
Home Facts
Stories3Lot Size8,759 SqFtStyleMulti-Family Res (5+ Units)Year Built1909CountyCOOKAPN16231030330000

Schools near 1256 South Independence Boulevard

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - K to 8
Charter - 10 to 12
Rating
School
Distance
Herzl Elementary School
PublicPK to 8

Manley Career Academy High School
Public9 to 12

YCCS-CCA Academy HS
Charter10 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.

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1256 South Independence Boulevard is a multi-family home for sale in Chicago, IL 60623. This property was listed for sale on March 1, 2024 by Main Street Real Estate Group, it's currently listed at $1,999,000. It has been on the market for a total of 60 days and was last sold on November 26, 2022. This listing's school district is City Of Chicago School District 299. Nearby schools include Herzl Elementary School, Manley Career Academy High School and Frazier Prep Academy Charter Elementary School. 1256 South Independence Boulevard is a 45-bed, 18-bath, multi-family home built in 1909.

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 Main Street Real Estate Group

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.