7200 South Stony Island Avenue

Chicago, IL 60619

$2,025,000
Last Sold Price
36
Beds
24
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Triton Realty Group, LLC presents for purchase 7200-02 S. Stony Island Avenue, a 24 unit multifamily building located in Chicago's booming South Shore neighborhood. This elegant brick walk-up contains an excellent unit mix featuring twelve (12) 2 bed/1 bath and twelve (12) 1 bed/1 bath apartments. This property has received great care, maintenance, and updates to the units all while preserving its classic historic Chicago architecture. Every apartment showcases desirable open floor plans with massive...Triton Realty Group, LLC presents for purchase 7200-02 S. Stony Island Avenue, a 24 unit multifamily building located in Chicago's booming South Shore neighborhood. This elegant brick walk-up contains an excellent unit mix featuring twelve (12) 2 bed/1 bath and twelve (12) 1 bed/1 bath apartments. This property has received great care, maintenance, and updates to the units all while preserving its classic historic Chicago architecture. Every apartment showcases desirable open floor plans with massive square footage, large living areas, ample bedroom space, a beautiful kitchen and plenty of natural light. Other updates include condo quality finishes: stainless-steel appliances, in-unit laundry, refinished hardwood flooring, and updated bathrooms. In addition to its cosmetic updates, the building has individual and separate utilities in-unit, minimizing owner expenses. Further building improvements include, but are not limited to, updated electric, plumbing, a steel porch system, and an abundance of masonry & tuckpointing work. 7200-02 S. Stony Island Avenue presents an incredible investment opportunity to acquire a renovated building in one of Chicago's most developing and desirable neighborhoods, South Shore. From a risk-adjusted perspective, a new investor has the prospect of adding value without the significant cost of a construction renovation. By raising rents to levels already being achieved in the building, new ownership may further improve the building's income. A buyer has the rare opportunity to acquire a stabilized investment with upside potential in an appreciating location providing a solid cash-on-cash return for many years to come.
  1. Listed by Harrison Cohen • Triton Realty Group LLC
  2. Listed by James Thompson • Triton Realty Group LLC

Sold By Triton Realty Group LLC

Property Details for 7200 South Stony Island Avenue

Area
CHI - South Shore
Num Of Parking Spaces
0.0
Num of Interior Fireplaces
0

Location

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LISTING UPDATED: 08/31/2023 03:01 AM

Property Details for 7200 South Stony Island Avenue

StatusClosed
MLS #11743503
Days on Market158
Taxes$29,007 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Flats
Year Built1898
Lot Size0.30 AC / 13,125 SF
CountyCook County

Location

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Building Information for 7200 South Stony Island Avenue

Stories-Residences24Year Built1898Building Size-Lot Size0.30 AC / 13,125 SF

Payment Calculator

$13,469 per month

30 year fixed, 7.25% Interest

Principal and Interest

$11,051

Property Taxes

$2,417

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7200 South Stony Island Avenue

General Information
Location and General Information
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • # Of Washers: 24
  • Heat/Ventilation: Central Heat/Indiv Controls
  • # Of Refrigerators: 24
  • # Of Dryers: 24
  • # Of Disposals: 0
  • # Of Dishwashers: 0
  • Num of Baths: 24.0
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat, Hot Water
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Flats
  • Lot Dimensions: 75 X 175
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Roof Structure: Flat
  • # Of Ranges: 24
Property and Assessments
  • Public Document Count: 1
  • Document Date: 2023-03-23T17:36:17
  • Photos Count: 22
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
  • Virtual Tour Date: 03-23-2023
Multi Family
Multi-Family Information
  • Number Of Units Total: 24
Income & Expenses
  • Electric Expense: $7,727.00
  • Fuel Expense: $2,400.00
  • Gross Income: $293,945.00
  • Gross Scheduled Income: $293,945.00
  • Insurance Expense: $17,434.00
  • Maintenance Expense: $19,086.00
  • Total Annual Expense Source: Combination
  • Janitor Expense: 13962
  • Total Monthly Income: 21344
  • Net Operating Income: $153,831.00
  • Operating Expense: $125,416.00
  • Other Expense: $.00
  • Trash Expense: $4,602.00
  • Water Sewer Expense: $15,443.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 12
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 12
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 7200 South Stony Island 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 7200 South Stony Island Avenue

Taxable ValueLand$10,840Additions$103,687Total$114,527
Tax Record2022$29,707 ($2,476 / month)
Home Facts
Stories3Lot Size12,045 SqFtStyleMulti-Family Res (5+ Units)Year Built1898CountyCOOKAPN20-26-211-016

Schools near 7200 South Stony Island 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 8
Public - 9 to 12
Rating
School
Distance
Madison Elementary School
PublicPK to 8

South Shore Fine Arts Elementary School
PublicPK to 8

South Shore Intl Col Prep High School
Public9 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.

Similar Homes

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Similar Sold Homes

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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 Triton Realty Group 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.