6430 South Eberhart Avenue

6430 South Eberhart Avenue

Chicago, IL 60637

$125,000
Last Sold Price
6
Beds
2
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.

Closed 7/27/23

Closed 7/27/23

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Description

Woodlawn is one of the fastest appreciating neighborhoods in the entire nation! This Greystone 2-unit is available for an absolute steal! There is so much upside for an investor looking to make a large profit or a homeowner looking to plant their feet in an area that will continue to aggressively appreciate for years to come! This Greystone 2-flat includes two large residential units, a full walkout basement and a private enclosed back yard! Unit #1 has 3-bedrooms, and 1 full bathroom and Unit #2...Woodlawn is one of the fastest appreciating neighborhoods in the entire nation! This Greystone 2-unit is available for an absolute steal! There is so much upside for an investor looking to make a large profit or a homeowner looking to plant their feet in an area that will continue to aggressively appreciate for years to come! This Greystone 2-flat includes two large residential units, a full walkout basement and a private enclosed back yard! Unit #1 has 3-bedrooms, and 1 full bathroom and Unit #2 has 3-bedrooms and 1 full bathroom. Updated 3-bedroom apartments can rent for $1,700+ per month in this neighborhood! The strategy that will yield the maximum equity or profit margin will be achieved by improving this 2-unit into a legal 3-unit by converting the large unfinished basement into a legal dwelling unit and cooperating with the city of Chicago to improve the zoning from a 2 to 3-unit residential property. This strategy was effective at 6235 S. Eberhart which was sold in December of 2022 for $585,000. The after-repair-value for non-new construction 3-units or 2-units with legal garden apartments is $523,000, based on comparable sales within the past 6 months within a half mile radius of the subject property! With the right construction strategy there is an approximate $150,000+ profit margin available! In 2020 the city of Chicago passed the Additional Dwelling Unit Ordinance which provides owners of multi-units with up to $35,000 in funds in the form of a forgivable loan to create additional living space in the basement! For more ambitious investors, there is also potential to build a coach house in the back yard which the ADU ordinance also supports in the effort to achieve an even higher valuation ($550,000+). There are a plethora of new construction projects in this area which speaks to the future of this neighborhood and high consumer confidence! This building has no code violations! Minutes from the Lakefront, proximity to The University of Chicago, the Obama Presidential Library, Dan Ryan, Red Line and Jackson Park! Priced to sell so please act swiftly! This property is already hard money approved with our lender that requires 7% down and will finance 100% of the renovation
  1. Listed by Michael Applegate • Straight-A Realty, LLC
  2. Listed by D'Andre Daye • Straight-A Realty, LLC

Property Details for 6430 South Eberhart Avenue

Area
CHI - Woodlawn
Township
Hyde Park
Ownership
Fee Simple
Num Of Cars
0.0
Heat/Fuel
Forced Air

Location

Listing Courtesy of Straight-A Realty, LLC

Sold By Charles Rutenberg Realty

Add your commute
LISTING UPDATED: 07/27/2023 05:03 PM

Property Details for 6430 South Eberhart Avenue

StatusClosed
MLS #11722187
Days on Market157
Taxes$2,347 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeTwo to Four Units / 2 Flat
Year Built1905
Lot Size0.07 AC / 3,125 SF
CountyCook County

Location

Listing Courtesy of Straight-A Realty, LLC

Sold By Charles Rutenberg Realty

Add your commute

Building Information for 6430 South Eberhart Avenue

Stories-Residences2Year Built1905Building Size-Lot Size0.07 AC / 3,125 SF

Payment Calculator

$878 per month

30 year fixed, 7.25% Interest

Principal and Interest

$682

Property Taxes

$196

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6430 South Eberhart Avenue

General Information
School Information
  • Elementary School District: 299
  • High School District: 299
  • Middle Or Junior School District: 299
Addtl Parking Information
  • Parking: None
Property Information
Interior Features
  • Num Of Rooms: 12
  • Bedrooms (Below Grade): 0
  • Basement Type: Full
  • Bedrooms Possible: 6
  • Basement Description: Unfinished
  • # Full Baths in Building: 2
  • # Half Baths in Building: 0
  • Num of Baths: 2.0
Utilities / Equipment
  • Sewer: Sewer-Public
  • Water: Public
Property/Lot Information
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: No
  • Built Before 1978: Yes
  • Age: 100+ Years
  • Lot Size: Less Than .25 Acre
  • Lot Dimensions: 25X125
  • Total # Units in Building: 2.0
  • Waterfront: No
  • Exterior Building Type: Brick, Stone, Brick/Stone Msn Pred
  • General Information: None
  • North Coordinate: 0
  • South Coordinate: 6430
  • East Coordinate: 300
  • West Coordinate: 0
  • 3 Br Un In Bldg: Yes
Property and Assessments
  • Buyer Financing: Conventional, FHA, VA
  • Public Document Count: 5
  • Document Date: 2023-03-14T14:44:17
  • Photos Count: 19
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Lease Expiration Date: N/A
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 2
  • Lease Expiration Date: N/A

Property History for 6430 South Eberhart 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 6430 South Eberhart Avenue

Taxable ValueLand$3,875Additions$11,125Total$15,000
Tax Record2022$2,382 ($198 / month)
Home Facts
Baths2Total Finished SqFt2,618 SqFtAbove Grade Finished SqFt2,618 SqFtStories2Lot Size3,100 SqFtStyleMulti-Family Res (5+ Units)Year Built1905CountyCOOKAPN20-22-209-027

Schools near 6430 South Eberhart Avenue

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Dulles Elementary School
Public - PK to 8
Hyde Park Academy High School
Public - 9 to 12
YCCS-Progressive Leadership Acad
Charter - 10 to 12
CICS Washington Park
Charter - K to 8
Rating
School
Distance
Dulles Elementary School
PublicPK to 8

Hyde Park Academy High School
Public9 to 12

YCCS-Progressive Leadership Acad
Charter10 to 12

CICS Washington Park
CharterK 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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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 Straight-A Realty, LLC

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.