3245 West 23rd Street

Chicago, IL 60623

$1,950,000
Price
20
Beds
13
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Welcome to the perfect investment opportunity in the vibrant neighborhood of Little Village! Presenting a 10-unit multifamily building that combines the benefits of a prime location, below market rents, and recently rehabbed units. This property offers tremendous potential for both immediate cash flow and long-term growth. One of the standout features of this multifamily building is its below market rents. With rental rates lower than the prevailing market rates in the area, this property provides...Welcome to the perfect investment opportunity in the vibrant neighborhood of Little Village! Presenting a 10-unit multifamily building that combines the benefits of a prime location, below market rents, and recently rehabbed units. This property offers tremendous potential for both immediate cash flow and long-term growth. One of the standout features of this multifamily building is its below market rents. With rental rates lower than the prevailing market rates in the area, this property provides a unique advantage. This presents an excellent opportunity for an investor to capitalize on the potential for increased cash flow. By gradually raising the rents to market levels, you can significantly boost your monthly income and enhance the overall profitability of the investment. Located in the vibrant community of Little Village, this building is situated in an area experiencing rapid growth and development.
  1. Listed by Jacob Elgazar • First Western Properties

Property Details for 3245 West 23rd Street

Area
CHI - South Lawndale
Num Of Parking Spaces
0.0

Location

Listing Courtesy of First Western Properties
Add your commute
LISTING UPDATED: 09/11/2023 12:07 AM

Property Details for 3245 West 23rd Street

StatusActive
MLS #11876743
Days on Market454
Taxes$7,843 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Other
Year Built1960
Lot Size0.07 AC / 3,000 SF
CountyCook County

Location

Listing Courtesy of First Western Properties
Add your commute

Building Information for 3245 West 23rd Street

Stories-Residences10Year Built1960Building Size-Lot Size0.07 AC / 3,000 SF

Payment Calculator

$11,296 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,642

Property Taxes

$654

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3245 West 23rd Street

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
  • Num of Baths: 13.0
Property/Lot Information
  • Tenant Pays: Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Other
  • Lot Dimensions: 25X120
  • Stories: 4
Property and Assessments
  • Public Document Count: 1
  • Document Date: 2023-09-05T14:50:08
  • Photos Count: 8
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 10
Income & Expenses
  • Electric Expense: $420.00
  • Fuel Expense: $657.00
  • Gross Income: $131,100.00
  • Gross Scheduled Income: $131,100.00
  • Insurance Expense: $2,877.00
  • Maintenance Expense: $.00
  • Total Annual Expense Source: Actual
  • Janitor Expense: 0
  • Total Monthly Income: 10925
  • Net Operating Income: $115,690.00
  • Operating Expense: $15,410.00
  • Other Expense: $.00
  • Trash Expense: $662.00
  • Water Sewer Expense: $2,951.00
Unit 1
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 2
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 5
Unit 3
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 1
Unit 4
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 2
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 3245 West 23rd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 3245 West 23rd Street

Taxable ValueLand$3,319Additions$31,219Total$34,538
Tax Record2022$7,104 ($592 / month)
Home Facts
Baths6Total Finished SqFt5,883 SqFtAbove Grade Finished SqFt5,883 SqFtStories3Lot Size2,825 SqFtStyleMulti-Family Res (5+ Units)Year Built1908CountyCOOKAPN16-26-214-006

Schools near 3245 West 23rd 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 - 9 to 12
Public - PK to 8
Rating
School
Distance
Kanoon Elementary Magnet School
PublicPK to 8

Farragut Career Academy High School
Public9 to 12

Spry Community Links High School
Public9 to 12

Saucedo Elementary Scholastic Academy
PublicPK to 8

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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3245 West 23rd Street is a multi-family home for sale in Chicago, IL 60623. This property was listed for sale on September 5, 2023 by First Western Properties, it's currently listed at $1,950,000. It has been on the market for a total of 454 days and was last sold on April 30, 2019. This listing's school district is City Of Chicago School District 299. Nearby schools include Kanoon Elementary Magnet School, Farragut Career Academy High School and Spry Community Links High School. 3245 West 23rd Street is a 20-bed, 13-bath, multi-family home built in 1960.

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 First Western Properties

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.