6228 South Greenwood Avenue

Chicago, IL 60637

$1,655,000
Price
23
Beds
8
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

6228 s. Greenwood is nestled amongst new construction developments and are located two (2) blocks away from the prestigious University of Chicago. Additionally, the asset sit just blocks away from the construction site of the future Obama Presidential Library. 6228 S. Greenwood, an eight (8) unit center entrance walk-up, is comprised of seven (7) 3Bd/1Ba units and one (1) 2Bd/1Ba unit. Units feature hardwood flooring, stainless steel appliances, updated cabinetry, and individual furnaces. 6228 S....6228 s. Greenwood is nestled amongst new construction developments and are located two (2) blocks away from the prestigious University of Chicago. Additionally, the asset sit just blocks away from the construction site of the future Obama Presidential Library. 6228 S. Greenwood, an eight (8) unit center entrance walk-up, is comprised of seven (7) 3Bd/1Ba units and one (1) 2Bd/1Ba unit. Units feature hardwood flooring, stainless steel appliances, updated cabinetry, and individual furnaces. 6228 S. Greenwood presents an investor with the rare opportunity to acquire a highly desirable building in one of Chicago's fastest growing and rapidly expanding neighborhoods. From day one, a new operator will realize a 7% cap rate. Given the rapidly changing rental market, an investor could further improve these figures. Solely by raising rents to levels already being achieved in the building, an investor could achieve a cap rate over 8% and cash return of 10.3%.
  1. Listed by Aaron Sklar • Kiser Group Realty Inc
  2. Listed by Noah Birk • Kiser Group Realty Inc

Property Details for 6228 South Greenwood Avenue

Area
CHI - Woodlawn

Location

Listing Courtesy of Kiser Group Realty Inc
Add your commute
LISTING UPDATED: 03/19/2024 12:50 PM

Property Details for 6228 South Greenwood Avenue

StatusActive
MLS #11994094
Days on Market86
Taxes$6,491 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Garden Complex
Year Built1901
Lot Size0.21 AC / 9,275 SF
CountyCook County

Location

Listing Courtesy of Kiser Group Realty Inc
Add your commute

Building Information for 6228 South Greenwood Avenue

Stories-Residences8Year Built1901Building Size-Lot Size0.21 AC / 9,275 SF

Payment Calculator

$9,573 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,032

Property Taxes

$541

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6228 South Greenwood Avenue

General Information
Location and General Information
  • Information: List Broker Must Accompany,48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Heat/Ventilation: Individual Furnaces
  • Num of Baths: 8.0
Property/Lot Information
  • Tenant Pays: Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Garden Complex
  • Lot Dimensions: 53' X 175'
  • Stories: 3
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 9
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 8
Income & Expenses
  • Electric Expense: $1,917.00
  • Fuel Expense: $1,051.00
  • Gross Income: $155,736.00
  • Gross Scheduled Income: $151,064.00
  • Insurance Expense: $4,663.00
  • Maintenance Expense: $1,750.00
  • Manager Expense: $7,553.00
  • Janitor Expense: 1500
  • Total Monthly Income: 12978
  • Net Operating Income: $115,847.00
  • Operating Expense: $35,217.00
  • Other Expense: $1,500.00
  • Trash Expense: $3,166.00
  • Water Sewer Expense: $5,626.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 7
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 1
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 6228 South Greenwood 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 6228 South Greenwood Avenue

Taxable ValueLand$5,475Additions$10,049Total$15,524
Tax Record2022$3,193 ($266 / month)
Home Facts
Baths6Total Finished SqFt9,597 SqFtAbove Grade Finished SqFt9,597 SqFtStories3Lot Size4,380 SqFtStyleMulti-Family Res (5+ Units)Year Built1902CountyCOOKAPN20-14-316-034

Schools near 6228 South Greenwood 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 - 6 to 12
Charter - K to 12
Rating
School
Distance
Fiske Elementary School
PublicPK to 8

Hyde Park Academy High School
Public9 to 12

Univ of Chicago Chtr-Woodlawn
Charter6 to 12

Univ of Chicago Charter Schools
CharterK 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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6228 South Greenwood Avenue is a multi-family home for sale in Chicago, IL 60637. This property was listed for sale on March 1, 2024 by Kiser Group Realty Inc, it's currently listed at $1,655,000. This listing's school district is City Of Chicago School District 299. Nearby schools include Fiske Elementary School, Hyde Park Academy High School and Univ of Chicago Chtr-Woodlawn. 6228 South Greenwood Avenue is a 23-bed, 8-bath, multi-family home built in 1901.

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.