8620 South Drexel Avenue

Chicago, IL 60619

$299,000
Price
12
Beds
6
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Discover an extraordinary investment opportunity in the heart of Chatham with this classic Chicago-style brick six-unit building. Each unit features 2 bedrooms and 1 bathroom, offering a versatile layout perfect for a variety of tenants. This property is brimming with potential, awaiting your vision to restore it to its former glory. Key Features: Prime Location: Situated in the vibrant Chatham neighborhood, known for its strong community and rich history. Spacious Units: Six well-designed 2-bedroom,...Discover an extraordinary investment opportunity in the heart of Chatham with this classic Chicago-style brick six-unit building. Each unit features 2 bedrooms and 1 bathroom, offering a versatile layout perfect for a variety of tenants. This property is brimming with potential, awaiting your vision to restore it to its former glory. Key Features: Prime Location: Situated in the vibrant Chatham neighborhood, known for its strong community and rich history. Spacious Units: Six well-designed 2-bedroom, 1-bathroom units. Investment Potential: Ideal for renovation and value-add strategies, offering substantial ROI. AFTER REHAB VALUE $500K+ Vacant Units Available for Viewing: Two units are currently vacant and available for showing. Please respect tenant privacy in occupied units. Important Details: Buyer Responsibility: The buyer is responsible for addressing city code violations. As-Is Sale: The property is being sold in as-is, where-is condition. Additional Information: For more details, please refer to the "Additional Information" tab in the MLS. This is a rare opportunity for serious investors to acquire a property with significant upside potential. Bring your ideas and expertise to transform this distressed asset into a prized income-producing property.
  1. Listed by Sanina Ellison • Re-CHRG Inc
  2. Listed by Tara Flowers • Re-CHRG Inc

Property Details for 8620 South Drexel Avenue

Area
CHI - Chatham
Township
Hyde Park
Zoning
MULTI

Location

Listing Courtesy of Re-CHRG Inc
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LISTING UPDATED: 05/23/2024 01:22 AM

Property Details for 8620 South Drexel Avenue

StatusActive
MLS #12059340
Days on Market31
Taxes$4,826 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Multi Family 5+-Garden Complex
Year Built1932
Lot Size0.14 AC / 6,300 SF
CountyCook County

Location

Listing Courtesy of Re-CHRG Inc
Add your commute

Building Information for 8620 South Drexel Avenue

Stories-Residences6Year Built1932Building Size-Lot Size0.14 AC / 6,300 SF

Payment Calculator

$2,034 per month

30 year fixed, 7.25% Interest

Principal and Interest

$1,632

Property Taxes

$402

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 8620 South Drexel Avenue

General Information
Addtl Parking Information
  • Indoor Parking: Detached
  • Open Parking Spaces: 3.0
Location and General Information
  • Frontage Type: City Street
  • Information: Short Sale
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: None
  • Electric: Circuit Breakers
  • Heat/Ventilation: Radiators
  • Num of Baths: 6.0
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity, Other
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Garden Complex
  • Lot Dimensions: 6300 SF
  • Lot Size Square Feet: 6300.0
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Building Area Total: 8544
  • Conversion: N
  • MRD_UNC: No
Property and Assessments
  • Buyer Financing: Conventional, Cash
  • Public Document Count: 6
  • Document Date: 2024-05-17T21:20:50
  • Photos Count: 5
  • Deconversion: N
Miscellaneous
  • Current Use: Multi-Family
  • Land Amenities: Curbs and Gutters,Sidewalks
  • Location: In City Limits
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 6
Income & Expenses
  • Electric Expense: $.00
  • Fuel Expense: $.00
  • Gross Income: $.00
  • Gross Scheduled Income: $.00
  • Insurance Expense: $.00
  • Maintenance Expense: $.00
  • Electric Expense Source: Actual
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Broker Projection
  • Janitor Expense: 0
  • Repairs-Decor Expense Source: Broker Projection
  • Trash Expense Source: Actual
  • Total Monthly Income: 0
  • Water Expense Source: Broker Projection
  • Net Operating Income: $.00
  • Operating Expense: $.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 6
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 8620 South Drexel 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 8620 South Drexel Avenue

Taxable ValueLand$7,875Additions$16,125Total$24,000
Tax Record2022$4,936 ($411 / month)
Home Facts
Baths6Total Finished SqFt8,544 SqFtAbove Grade Finished SqFt8,544 SqFtStories3Lot Size6,300 SqFtStyleMulti-Family Res (5+ Units)Year Built1932CountyCOOKAPN20-35-315-049

Schools near 8620 South Drexel Avenue

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - 10 to 11
Public - PK to 8
Rating
School
Distance
Ashe Elementary School
PublicPK to 8

Harlan Community Academy High School
Public9 to 12

YCCS Chtr - Chatham
Charter10 to 11

Burnside Elementary Scholastic Academy
PublicPK to 8

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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8620 South Drexel Avenue is a multi-family home for sale in Chicago, IL 60619. This property was listed for sale on May 17, 2024 by Re-CHRG Inc, it's currently listed at $299,000. It has been on the market for a total of 31 days and was last sold on June 18, 2021. This listing's school district is City Of Chicago School District 299. Nearby schools include Ashe Elementary School, Harlan Community Academy High School and YCCS Chtr - Chatham. 8620 South Drexel Avenue is a 12-bed, 6-bath, multi-family home built in 1932.

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 Re-CHRG 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 05/23/2024 01:22 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.