3064 East 79th Street

Chicago, IL 60649

$950,000
Price
18
Beds
9
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

3064 E. 79th is an incredibly spacious (9) unit property located in Chicago's South Shore neighborhood. Right off of Lake Michigan and Rainbow Beach Park, the building sits within walking distance of an abundance of public transportation options. Additionally, for quick and convenient transportation, the asset is nearby to Chicago's Lake Shore Drive which provides tenants easy access to Chicago's downtown in roughly fifteen minutes. 3064 E. 79th is currently comprised of nine (9) Oversized 2b/1ba...3064 E. 79th is an incredibly spacious (9) unit property located in Chicago's South Shore neighborhood. Right off of Lake Michigan and Rainbow Beach Park, the building sits within walking distance of an abundance of public transportation options. Additionally, for quick and convenient transportation, the asset is nearby to Chicago's Lake Shore Drive which provides tenants easy access to Chicago's downtown in roughly fifteen minutes. 3064 E. 79th is currently comprised of nine (9) Oversized 2b/1ba units. The units all feature hardwood flooring throughout and updated tiling in the kitchen. Furthermore, additional improvements to the building consist of but are not limited to, updated electric, newer windows, an updated and newly coated roof, separate and individual HVAC furnaces, and a paved parking lot in the rear. Given the location and size of the units, there is an incredibly large demand for apartments such as these. 3064 E. 79th presents an investor with a unique opportunity to acquire a strong, positive cash flowing building with an in-place cap rate of over 8.2%. Given the quality of the units coupled with the prime location, by releasing and increasing rents to levels already being achieved in the building, an investor could increase the cap rate to just under 10.00%.
  1. Listed by Aaron Sklar • Kiser Group Realty Inc
  2. Listed by Noah Birk • Kiser Group Realty Inc

Property Details for 3064 East 79th Street

Area
CHI - South Chicago

Location

Listing Courtesy of Kiser Group Realty Inc
Add your commute
LISTING UPDATED: 03/19/2024 12:45 PM

Property Details for 3064 East 79th Street

StatusActive
MLS #11986480
Days on Market100
Taxes$8,742 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Garden Complex
Year Built1923
Lot Size0.12 AC / 5,290 SF
CountyCook County

Location

Listing Courtesy of Kiser Group Realty Inc
Add your commute

Building Information for 3064 East 79th Street

Stories-Residences9Year Built1923Building Size-Lot Size0.12 AC / 5,290 SF

Payment Calculator

$5,913 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,185

Property Taxes

$729

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3064 East 79th Street

General Information
Location and General Information
  • Information: List Broker Must Accompany,48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Heat/Ventilation: Individual Furnaces
  • Num of Baths: 9.0
Property/Lot Information
  • Tenant Pays: Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Garden Complex
  • Lot Dimensions: 46' X 115'
  • Stories: 3
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 8
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 9
Income & Expenses
  • Electric Expense: $1,200.00
  • Fuel Expense: $1,800.00
  • Gross Income: $113,700.00
  • Gross Scheduled Income: $111,715.00
  • Insurance Expense: $3,045.00
  • Maintenance Expense: $3,525.00
  • Manager Expense: $5,401.00
  • Janitor Expense: 2000
  • Total Monthly Income: 9783
  • Net Operating Income: $77,922.00
  • Operating Expense: $33,793.00
  • Other Expense: $3,080.00
  • Trash Expense: $1,500.00
  • Water Sewer Expense: $3,500.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 9
Unit 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 0
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 3064 East 79th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 3064 East 79th Street

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - 4 to 12
Charter - 9 to 12
Rating
School
Distance
Powell Elementary Paideia Community Academy
PublicPK to 8

CAMELOT SAFE ACADEMY SCHOOL
Public4 to 12

Epic Academy High School
Charter9 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.

Neighborhood Map and Transit

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3064 East 79th Street is a multi-family home for sale in Chicago, IL 60649. This property was listed for sale on February 21, 2024 by Kiser Group Realty Inc, it's currently listed at $950,000. This listing's school district is City Of Chicago School District 299. Nearby schools include Powell Elementary Paideia Community Academy, Chicago Vocational Career Academy High School and CAMELOT SAFE ACADEMY SCHOOL. 3064 East 79th Street is a 18-bed, 9-bath, multi-family home built in 1923.

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 Kiser Group Realty 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 03/19/2024 12:45 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.