623 East Groveland Parkway

Chicago, IL 60616

$1,525,000
Price
18
Beds
6
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This multifamily real estate opportunity is in the Groveland Park neighborhood of Chicago. The subject property of 623 East Groveland Park is located 6.3 miles south of Chicago's downtown Loop area. The property is in an exclusive gated community along the shores of Lake Michigan. The unit mix for this property includes six three-bedrooms / one-bathroom units that measure 1,100-1,200 square feet. The units have open floor plans and are newly renovated with modern finishes. The units feature stainless...This multifamily real estate opportunity is in the Groveland Park neighborhood of Chicago. The subject property of 623 East Groveland Park is located 6.3 miles south of Chicago's downtown Loop area. The property is in an exclusive gated community along the shores of Lake Michigan. The unit mix for this property includes six three-bedrooms / one-bathroom units that measure 1,100-1,200 square feet. The units have open floor plans and are newly renovated with modern finishes. The units feature stainless steel appliances, dark hardwood floors and fresh paint. The building has been well maintained through the current ownership. Recent capital improvements include new plumbing, electric, HVAC, roof and other quality finishes around the property. There is also on-site laundry for additional income for the new owner. Parking and storage are currently included in the rent for the tenants.
  1. Listed by Stephen Rachman • Marcus & Millichap Chicago Apartment Brokers

Property Details for 623 East Groveland Parkway

Area
CHI - Douglas
Zoning
MULTI

Location

Listing Courtesy of Marcus & Millichap Chicago Apartment Brokers
Add your commute
LISTING UPDATED: 04/25/2024 12:07 AM

Property Details for 623 East Groveland Parkway

StatusActive
MLS #11997584
Days on Market53
Taxes$13,513 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Interior Entrance
Year Built1903
Lot Size0.11 AC / 4,960 SF
CountyCook County

Location

Listing Courtesy of Marcus & Millichap Chicago Apartment Brokers
Add your commute

Building Information for 623 East Groveland Parkway

Stories-Residences6Year Built1903Building Size-Lot Size0.11 AC / 4,960 SF

Payment Calculator

$9,449 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,323

Property Taxes

$1,126

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 623 East Groveland Parkway

General Information
Addtl Parking Information
  • Outdoor Parking: 6-12 Spaces
  • Open Parking Spaces: 6.0
Location and General Information
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Heat/Ventilation: Central Heat/Indiv Controls,Forced Air
  • Num of Baths: 6.0
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Corridor-Interior Entrance,Flats
  • Lot Dimensions: +/- 40 X 124
  • Lot Size Square Feet: 4960.0
  • Stories: 3
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 4
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
Income & Expenses
  • Electric Expense: $680.00
  • Fuel Expense: $1,150.00
  • Gross Income: $150,000.00
  • Gross Scheduled Income: $150,000.00
  • Insurance Expense: $2,437.00
  • Maintenance Expense: $500.00
  • Janitor Expense: 1800
  • Total Monthly Income: 12500
  • Net Operating Income: $103,555.00
  • Operating Expense: $42,545.00
  • Other Expense: $1,200.00
  • Trash Expense: $1,200.00
  • Water Sewer Expense: $1,400.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 6
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 623 East Groveland Parkway

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 623 East Groveland Parkway

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - 9 to 12
Charter - PK to 5
Rating
School
Distance
Pershing Elementary Humanities Magnet
PublicPK to 8

Phillips Academy High School
Public9 to 12

Urban Prep Chtr South Shore High School
Charter9 to 12

Univ of Chicago Charter-Donoghue
CharterPK to 5

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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623 East Groveland Parkway is a multi-family home for sale in Chicago, IL 60616. This property was listed for sale on March 6, 2024 by Marcus & Millichap Chicago Apartment Brokers, it's currently listed at $1,525,000. This listing's school district is City Of Chicago School District 299. Nearby schools include Pershing Elementary Humanities Magnet, Phillips Academy High School and Urban Prep Chtr South Shore High School. 623 East Groveland Parkway is a 18-bed, 6-bath, multi-family home built in 1903.

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 Marcus & Millichap Chicago Apartment Brokers

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.