6457-61 North Newark Avenue

Chicago, IL 60631

$550,000
Last Sold Price
7
Beds
4
Baths
4,700 Sq. Ft.
$117 / Sq. Ft.
4,700
Sq. Ft.
$117
per Sq. Ft.

Description

10% capitalization rate investment opportunity! ( rents far below market by Long time owner). Opportunity knocks for this rare multi-unit Heart of Norwood Park "compound" in a walk to Metra train location, on the edge of Chicago and Niles. Legal nonconforming 4 flat has Zoning Compliance Certification on file. There are three structures on this large corner lot- steps from the park- with a total of four units, and one permanent tax index number; Great Live-in, or Investor opportunity! Live in the...10% capitalization rate investment opportunity! ( rents far below market by Long time owner). Opportunity knocks for this rare multi-unit Heart of Norwood Park "compound" in a walk to Metra train location, on the edge of Chicago and Niles. Legal nonconforming 4 flat has Zoning Compliance Certification on file. There are three structures on this large corner lot- steps from the park- with a total of four units, and one permanent tax index number; Great Live-in, or Investor opportunity! Live in the detached structure and rent out the other three(3) units; All apartments in clean well-maintained condition. Rents below market. The 6457 structure was converted from commercial(grocery store) to residential with all permits on file- and pending use for a business license to revert back to the future owner. Great access to all forms of transportation; Predominantly single-family detached neighborhood; City Park 1/2 block away; Possible Redevelopment Opportunity!
  1. Listed by Dympna Fay-Hart • Dream Town Realty

Sold By Platinum Partners Realtors

Property Details for 6457-61 North Newark Avenue

Area
CHI - Norwood Park
Township
Jefferson
Ownership
Fee Simple
Num Of Cars
0.0
Parking Included in Price
Yes
Heat/Fuel
Natural Gas, Forced Air, Hot Water/Steam, Baseboard
Zoning
OTHER

Location

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LISTING UPDATED: 01/21/2022 01:12 PM

Property Details for 6457-61 North Newark Avenue

StatusClosed
MLS #11021498
Days on Market311
Taxes$10,700 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeTwo to Four Units / 4 Flat
Year Built1902
Lot Size0.20 AC / 8,500 SF
CountyCook County

Location

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Building Information for 6457-61 North Newark Avenue

Stories-Residences4Year Built1902Building Size-Lot Size0.20 AC / 8,500 SF

Payment Calculator

$3,893 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,002

Property Taxes

$892

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6457-61 North Newark Avenue

General Information
School Information
  • Elementary School District: 299
  • High School District: 299
  • Middle Or Junior School District: 299
Addtl Parking Information
  • Parking: None
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Num Of Rooms: 19
  • Bedrooms (Below Grade): 0
  • Basement Type: Full
  • Bedrooms Possible: 7
  • Basement Description: Unfinished
  • # Full Baths in Building: 4
  • # Half Baths in Building: 0
  • Num of Baths: 4.0
Utilities / Equipment
  • Sewer: Sewer-Public
  • Water: Lake Michigan, Public
  • Other Equipment: Humidifier, CO Detectors, Ceiling Fan(s)
Property/Lot Information
  • Exterior Property Features: Patio, Storms/Screens
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: No
  • Built Before 1978: Yes
  • Age: 100+ Years
  • Lot Description: Corner Lot
  • Lot Size: .25-.49 Acre
  • Lot Dimensions: 8500SF
  • Total # Units in Building: 4.0
  • Waterfront: Yes
  • Exterior Building Type: Aluminum Siding
  • Roof Type: Asphalt
  • Foundation Details: Brick/Mortar
  • General Information: None
  • North Coordinate: 6457
  • South Coordinate: 0
  • East Coordinate: 0
  • West Coordinate: 6800
  • 3 Br Un In Bldg: No
Property and Assessments
  • Public Document Count: 1
  • Document Date: 2021-03-15T19:56:44
  • Green Supporting Documents: N
  • Photos Count: 34
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Income & Expenses
  • Gross Income: $4,400.00
Unit 1
  • Unit Type Actual Rent: $1,400.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Lease Expiration Date: 5/21
Unit 2
  • Unit Type Actual Rent: $1,000.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
  • Lease Expiration Date: MO/MO
Unit 3
  • Unit Type Actual Rent: $875.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 3
  • Lease Expiration Date: MO/MO
Unit 4
  • Unit Type Actual Rent: $1,295.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 4
  • Lease Expiration Date: 10/21

Property History for 6457-61 North Newark Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 6457-61 North Newark Avenue

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 7 to 12
Public - 9 to 12
Public - PK to 3
Rating
School
Distance
Onahan Elementary School
PublicPK to 8

Taft High School
Public7 to 12

Ombudsman Chicago Northwest
Public9 to 12

Beard Elementary School
PublicPK to 3

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. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Dream Town Realty

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.