7931 South Manistee Avenue

Chicago, IL 60617

$635,000
Price
21
Beds
7
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

7931 s. Manistee is a seven (7) unit building in Chicago's historic South Shore neighborhood. Nestled on a one-way, tree lined street, the building sits within walking distance to an abundance of public transportation options, Lake Michigan, and Rainbow Beach Park. Over the past few years, South Shore has seen a wealth of new developments due to its proximity to Lake Michigan, the upcoming and developing Obama Presidential Library, along with $100 million project located at 79th & Exchange, Thrive...7931 s. Manistee is a seven (7) unit building in Chicago's historic South Shore neighborhood. Nestled on a one-way, tree lined street, the building sits within walking distance to an abundance of public transportation options, Lake Michigan, and Rainbow Beach Park. Over the past few years, South Shore has seen a wealth of new developments due to its proximity to Lake Michigan, the upcoming and developing Obama Presidential Library, along with $100 million project located at 79th & Exchange, Thrive Exchange, located just two (2) blocks away from the subject property. 7931 S. Manistee has an incredibly desirable unit mix comprised of seven (7) 3bd/1ba units. Each unit features hardwood floors and spacious floor plans with separate living and dining rooms. Recent improvements to the building include, but are not limited to: copper plumbing, modern boiler with R&D control system, an abundance of masonry & tuckpointing work, along with newer windows. 7931 S. Manistee presents an investor with the opportunity to acquire a stabilized, cash flowing building with a significant value-add component. At list price, the building performs at a 9.2% cap rate. However, solely by raising rents to current market rate levels, an investor could achieve an 11.37% cap rate and cash return of nearly 22%.
  1. Listed by Aaron Sklar • Kiser Group Realty Inc
  2. Listed by Noah Birk • Kiser Group Realty Inc

Property Details for 7931 South Manistee Avenue

Area
CHI - South Chicago

Location

Listing Courtesy of Kiser Group Realty Inc
Add your commute
LISTING UPDATED: 03/19/2024 12:42 PM

Property Details for 7931 South Manistee Avenue

StatusActive
MLS #11962843
Days on Market131
Taxes$8,342 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Garden Complex
Year Built1926
Lot Size0.14 AC / 6,200 SF
CountyCook County

Location

Listing Courtesy of Kiser Group Realty Inc
Add your commute

Building Information for 7931 South Manistee Avenue

Stories-Residences7Year Built1926Building Size-Lot Size0.14 AC / 6,200 SF

Payment Calculator

$4,161 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,465

Property Taxes

$695

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7931 South Manistee 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: Radiators
  • Num of Baths: 7.0
Property/Lot Information
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Garden Complex
  • Lot Dimensions: 50' X 124'
  • 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: 7
Income & Expenses
  • Electric Expense: $512.00
  • Fuel Expense: $8,556.00
  • Gross Income: $101,040.00
  • Gross Scheduled Income: $95,988.00
  • Insurance Expense: $3,877.00
  • Maintenance Expense: $2,200.00
  • Manager Expense: $4,799.00
  • Janitor Expense: 1800
  • Total Monthly Income: 8420
  • Net Operating Income: $57,236.00
  • Operating Expense: $38,752.00
  • Other Expense: $1,500.00
  • Trash Expense: $2,471.00
  • Water Sewer Expense: $4,695.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 7
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 7931 South Manistee 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 7931 South Manistee Avenue

Taxable ValueLand$5,580Additions$34,979Total$40,559
Tax Record2022$8,342 ($695 / month)
Home Facts
Baths6Total Finished SqFt9,330 SqFtAbove Grade Finished SqFt9,330 SqFtStories3Lot Size6,200 SqFtStyleMulti-Family Res (5+ Units)Year Built1926CountyCOOKAPN21-31-107-014

Schools near 7931 South Manistee 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 - 4 to 12
Charter - 9 to 12
Rating
School
Distance
CAMELOT SAFE ACADEMY SCHOOL
Public4 to 12

Epic Academy High School
Charter9 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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7931 South Manistee Avenue is a multi-family home for sale in Chicago, IL 60617. This property was listed for sale on January 17, 2024 by Kiser Group Realty Inc, it's currently listed at $635,000. It has been on the market for a total of 131 days and was last sold on October 10, 2018. This listing's school district is City Of Chicago School District 299. Nearby schools include Bradwell Community Arts & Sci Elementary School, Chicago Vocational Career Academy High School and CAMELOT SAFE ACADEMY SCHOOL. 7931 South Manistee Avenue is a 21-bed, 7-bath, multi-family home built in 1926.

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.