6557 South Minerva Avenue

Chicago, IL 60637

$1,850,000
Price
25
Beds
21
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

6557 s. Minerva is a rarely available ten (10) unit walkup located just outside of Hyde Park in Chicago's East Woodlawn neighborhood. The property is located just blocks from the prestigious University of Chicago and the construction site of the future Obama Presidential Library, 6557 S. Minerva is comprised of five (5) 2Bd/2Ba, four (4) 3Bd/2Ba, and one (1) 3Bd/3Ba units. During a complete gut rehab in 2004, all four (4) first floor units were duplexed down and the building was deconverted from...6557 s. Minerva is a rarely available ten (10) unit walkup located just outside of Hyde Park in Chicago's East Woodlawn neighborhood. The property is located just blocks from the prestigious University of Chicago and the construction site of the future Obama Presidential Library, 6557 S. Minerva is comprised of five (5) 2Bd/2Ba, four (4) 3Bd/2Ba, and one (1) 3Bd/3Ba units. During a complete gut rehab in 2004, all four (4) first floor units were duplexed down and the building was deconverted from twelve (12) to ten (10) units to create two (2) penthouse apartments by consolidating the third floor units in both tiers. All units feature incredibly spacious layouts with updated kitchens and baths. Throughout the years, the building has undergone extensive renovations consisting of, but not limited to: 100% copper plumbing, new electric service w/ in-unit breaker boxes, individual furnaces & hot water tanks, in-unit washer and dryers, and an abundance of cosmetic updates. 6557 S. Minerva presents an investor with the opportunity to acquire a rarely available and highly desirable building in one of Chicago's best neighborhoods. From day one, a new owner will benefit from an incredibly stable and long-term tenant base. However, with most of the building's current rents being substantially below current market levels-there is a tremendous amount of value to be added solely by stabilizing rents to levels already being achieved in the building.
  1. Listed by Aaron Sklar • Kiser Group Realty Inc
  2. Listed by Noah Birk • Kiser Group Realty Inc

Property Details for 6557 South Minerva Avenue

Area
CHI - Woodlawn

Location

Listing Courtesy of Kiser Group Realty Inc
Add your commute
LISTING UPDATED: 03/23/2024 03:03 AM

Property Details for 6557 South Minerva Avenue

StatusActive
MLS #11999099
Days on Market84
Taxes$16,043 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Garden Complex
Year Built1903
Lot Size0.14 AC / 6,174 SF
CountyCook County

Location

Listing Courtesy of Kiser Group Realty Inc
Add your commute

Building Information for 6557 South Minerva Avenue

Stories-Residences10Year Built1903Building Size-Lot Size0.14 AC / 6,174 SF

Payment Calculator

$11,433 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,096

Property Taxes

$1,337

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 6557 South Minerva Avenue

General Information
Location and General Information
  • Information: List Broker Must Accompany,48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Heat/Ventilation: Individual Furnaces
  • Num of Baths: 21.0
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat, Hot Water
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Garden Complex
  • Lot Dimensions: 49' X 126'
  • Stories: 3
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 12
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: $898.00
  • Fuel Expense: $3,615.00
  • Gross Income: $204,000.00
  • Gross Scheduled Income: $193,800.00
  • Insurance Expense: $8,199.00
  • Maintenance Expense: $4,250.00
  • Manager Expense: $9,690.00
  • Janitor Expense: 3000
  • Total Monthly Income: 17000
  • Net Operating Income: $136,300.00
  • Operating Expense: $57,500.00
  • Other Expense: $2,000.00
  • Trash Expense: $2,804.00
  • Water Sewer Expense: $7,000.00
Unit 1
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 5
Unit 2
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 4
Unit 3
  • Unit Type Baths Total: 3
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 1
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 6557 South Minerva 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 6557 South Minerva Avenue

Taxable ValueLand$5,507Additions$72,492Total$77,999
Tax Record2022$16,043 ($1,337 / month)
Home Facts
Stories3Lot Size6,119 SqFtStyleMulti-Family Res (5+ Units)Year Built1903CountyCOOKAPN20-23-119-021

Schools near 6557 South Minerva Avenue

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - PK to 6
Charter - 6 to 12
Rating
School
Distance
Wadsworth PreK-8th STEM School
PublicPK to 8

Hyde Park Academy High School
Public9 to 12

Woodlawn Elementary Community School
PublicPK to 6

Univ of Chicago Chtr-Woodlawn
Charter6 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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6557 South Minerva Avenue is a multi-family home for sale in Chicago, IL 60637. This property was listed for sale on March 7, 2024 by Kiser Group Realty Inc, it's currently listed at $1,850,000. It has been on the market for a total of 84 days and was last sold on April 1, 2021. This listing's school district is City Of Chicago School District 299. Nearby schools include Wadsworth PreK-8th STEM School, Hyde Park Academy High School and Woodlawn Elementary Community School. 6557 South Minerva Avenue is a 25-bed, 21-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 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. Based on information submitted to the MLS GRID as of 03/23/2024 03:03 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.