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5901 W Race Avenue

Chicago, IL 60644
  • $1,265,000
  • STATUS: Active Under Contract
  • ON SITE: 30 Days
  • MLS #: 11667018
Under Contract
UPDATED: 51 min ago
$1,265,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1917
County:
Area:

School Ratings & Info

Description

Two neighboring buildings on a single parcel located in one of the best pockets of the Austin neighborhood. The buildings are comprised of (9) 2 Bd/1 Ba, (1) 3 Bd/1 Ba, & (1) 4 Bd/2 Ba units, totaling 11-units with a shared fenced-in yard. Additionally, there are two partially built-out full bathrooms in the basement, offering the opportunity to add a 12th unit for further income. A majority of the apartments have been lightly renovated throughout the years and are currently fully occupied. 516-18 N. Mayfield Ave. & 5901-03 W. Race Ave. are situated on a quiet corner just blocks away from downtown Oak Park and 0.2 miles north of the Austin Green Line station. The location provides convenient access to a variety of local amenities and major employers in both Oak Park and the city of Chicago. The Subject Property presents investors with an opportunity to acquire two vintage buildings in a desirable location with operational upside. Current rents are approximately 25% below market, providing investors the ability to capture significant rental upside with the units in "As-Is" condition.

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© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Rossi and Taylor Realty Group. Based on information submitted to the MRED as of 2022-12-04T23:57:32.693 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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5901 W Race Avenue Chicago, IL 60644

  • Price: $1,265,000
  • Status: Active Under Contract
  • On Site: 30 Days
  • Updated: 51 min ago
  • MLS #: 11667018
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1917
Built
Neighborhood:
Chi - Austin
County:
Cook
Area:
Chi - Austin
Property Description
Two neighboring buildings on a single parcel located in one of the best pockets of the Austin neighborhood. The buildings are comprised of (9) 2 Bd/1 Ba, (1) 3 Bd/1 Ba, & (1) 4 Bd/2 Ba units, totaling 11-units with a shared fenced-in yard. Additionally, there are two partially built-out full bathrooms in the basement, offering the opportunity to add a 12th unit for further income. A majority of the apartments have been lightly renovated throughout the years and are currently fully occupied. 516-18 N. Mayfield Ave. & 5901-03 W. Race Ave. are situated on a quiet corner just blocks away from downtown Oak Park and 0.2 miles north of the Austin Green Line station. The location provides convenient access to a variety of local amenities and major employers in both Oak Park and the city of Chicago. The Subject Property presents investors with an opportunity to acquire two vintage buildings in a desirable location with operational upside. Current rents are approximately 25% below market, providing investors the ability to capture significant rental upside with the units in "As-Is" condition.
Exterior Features

Parking Total 0

Interior Features

Cooling Central IndividualWindow Unit(S) Heat Ventilation Central Heat/Indiv ControlsRadiators

Property Features

Additional Parcels YN No Approximate Age Older Built Before1978 YN Yes Contingency Attorney/Inspection Continue To Show Yes Electric Separate Meters Gross Income 139500 Gross Scheduled Income 141800 Insurance Expense 5680 Maintenance Expense 5500 Mls Actual Status Contingent Net Operating Income 81541 Operating Expense 53169 Tax Annual Amount 7795 Tax Year 2020 Tenant Pays Electricity Total Monthly Income 11816 Township West Chicago Type Multi Family 5+

Listing information © 2022 Midwest Real Estate Data LLC.
Listing provided courtesy of Essex 312, Llc: 630-485-8685.


© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Rossi and Taylor Realty Group. Based on information submitted to the MRED as of 2022-12-04T23:57:32.693 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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