171 25th Avenue

Melrose Park, IL 60160

$1,590,000
Price
30
Beds
20
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Buyer suffered cold feet is your opportunity now to be the new buyer/owner. Price Reduction Prime Melrose Park Multi-Family consisting of a 2-story brick & stone building containing 20 residential apartments (made up of 10 one-bedroom and 10 two-bedroom apartments). All have leases mostly in place early 2024. Has 22 parking spaces. Healthy generating NOI and with further room to grow by decreasing expenses and bringing units closer to market rent. In addition, the 8,000 square foot basement can be...Buyer suffered cold feet is your opportunity now to be the new buyer/owner. Price Reduction Prime Melrose Park Multi-Family consisting of a 2-story brick & stone building containing 20 residential apartments (made up of 10 one-bedroom and 10 two-bedroom apartments). All have leases mostly in place early 2024. Has 22 parking spaces. Healthy generating NOI and with further room to grow by decreasing expenses and bringing units closer to market rent. In addition, the 8,000 square foot basement can be sub divided for further rental income to either tenant storage, or two businesses. Plus, even more additional income is available by finishing the coin operated laundry room on 1st floor by adding 2 washers / 2 dryers, and if separate office space is rented out. This property is ideally located with many employment opportunities, retail, and restaurants all within short walking distance. If you're looking to add a cash cow to your portfolio, this is the one.
  1. Listed by Miguel Ruiz • Baird & Warner
  2. Listed by Scott Milliman • Baird & Warner

Property Details for 171 25th Avenue

Area
Melrose Park
Township
Proviso
Zoning
MULTI

Location

Listing Courtesy of Baird & Warner
Add your commute
LISTING UPDATED: 03/27/2024 02:51 PM

Property Details for 171 25th Avenue

StatusContingent
MLS #11796776
Days on Market321
Taxes$34,993 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Exterior Entrance
Year Built1945
Lot Size0.42 AC / 18,200 SF
CountyCook County

Location

Listing Courtesy of Baird & Warner
Add your commute

Building Information for 171 25th Avenue

Stories-Residences20Year Built1945Building Size-Lot Size0.42 AC / 18,200 SF

Payment Calculator

$11,593 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,677

Property Taxes

$2,916

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 171 25th Avenue

General Information
Addtl Parking Information
  • Outdoor Parking: 19-30 Spaces
  • Open Parking Spaces: 22.0
Location and General Information
  • Information: List Broker Must Accompany,48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Wall Sleeve
  • Electric: Circuit Breakers
  • Basement Description: Unfinished, Exterior Access, Bathroom Rough-In, Concrete Block, Stone/Rock, Storage Space, Walk-Up Access
  • Heat/Ventilation: Electric,Forced Air
  • # Of Window/Ac: 20
  • # Of Refrigerators: 20
  • Num of Baths: 20.0
Exterior Features
  • Misc Outside: Fire Escape
Utilities / Equipment
  • Utilities: Water-Municipal, Cable Available
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Corridor-Exterior Entrance
  • Lot Dimensions: 135X135
  • Lot Size Square Feet: 18200.0
  • Stories: 2
  • Exterior Building Type: Brick, Stone
  • Construction: Brick, Stone
  • Roof Type: Composition, Membrane, Rubber, Varies
  • Fire Protection: Fire Extinguisher/s,Sprinklers-Wet,Stand Pipe,Sprinklers,Carbon Monoxide Detector(s)
  • Roof Structure: Flat,Gable
  • Foundation Details: Concrete Perimeter
  • # Of Ranges: 20
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Commercial
  • Documents Available: Rent Roll,Tax Bill
  • Public Document Count: 2
  • Document Date: 2023-11-14T19:02:12
  • Photos Count: 4
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: 20
Income & Expenses
  • Electric Expense: $1,850.00
  • Fuel Expense: $10,558.00
  • Gross Income: $235,573.00
  • Gross Scheduled Income: $223,987.00
  • Insurance Expense: $7,901.00
  • Maintenance Expense: $10,300.00
  • Electric Expense Source: Actual
  • Expense Year: 2022
  • Total Annual Expense Source: Actual
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 4215
  • Manager Expense Source: OP
  • Net Operating Income Year: 2022
  • Other Expense Source: Actual
  • Repairs-Decor Expense Source: Actual
  • Trash Expense Source: Actual
  • Total Monthly Income: 19410
  • Water Expense Source: Actual
  • Net Operating Income: $130,841.00
  • Operating Expense: $93,146.00
  • Other Expense: $10,530.00
  • Trash Expense: $5,315.00
  • Water Sewer Expense: $5,736.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 10
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 10
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
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 171 25th 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 171 25th Avenue

Taxable ValueLand$13,339Additions$37,947Total$51,286
Tax Record2022$15,804 ($1,317 / month)
Home Facts
Lot Size11,116 SqFtStyleMulti-Family Res (5+ Units)Year Built1945CountyCOOKAPN15-10-100-073

Schools near 171 25th 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
Melrose Park 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 Baird & Warner

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.