2501 N Richmond St

Chicago, IL 60647

$1,882,500
Last Sold Price
8
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Charming Multi-Family Residential Complex (6-Units) Brown Brick Vintage Building in Prime Logan Square Neighborhood. Perfect blend of vintage, turn-of-the-century detailing coupled with new construction amenities. Property consists of (2) two-story masonry buildings- 2501 N. Richmond AND 2918-20 W. Altgeld, both renovated in 2014. The front building (2501 N. Richmond) contains (2) two-bedrooms, one-bath units; the rear building (2918-20 W. Altgeld) has (4) one-bed, one-bath units. Each unit features...Charming Multi-Family Residential Complex (6-Units) Brown Brick Vintage Building in Prime Logan Square Neighborhood. Perfect blend of vintage, turn-of-the-century detailing coupled with new construction amenities. Property consists of (2) two-story masonry buildings- 2501 N. Richmond AND 2918-20 W. Altgeld, both renovated in 2014. The front building (2501 N. Richmond) contains (2) two-bedrooms, one-bath units; the rear building (2918-20 W. Altgeld) has (4) one-bed, one-bath units. Each unit features extremely large, airy, sunlight-drenched living and dining rooms, high coffered ceilings, built-in restored hutches, re-finished woodwork, new light fixtures & more. Incredible sunlight from lots of windows. Designer-specified finishes throughout. New kitchens boast granite countertops, soft-touch cabinets and drawers, and stainless-steel appliances including dishwashers, oven ranges, microwaves, and gas stoves. Washer and Dryer in every unit. Wi-Fi ready outlets. Central AC, separate heating and cooling, new electrical service. Secured basement storage. Exterior amenities include new porches, a brick patio and landscaped yard for good-weather hanging out. Property is one block to Logan Boulevard, and a short walk to Logan Square Blue Line el stop. Great retail and restaurants along Milwaukee Ave and Kedzie. Walk to Revolution Brewing, Lula's Cafe, Longman & Eagle and the critically acclaimed Logan Square Farmer's Market. Property is historically fully occupied due to its amazing location and condo-quality apartments. Currently brings in $158,544 annually, with room for rent increases. Tenants all pay separate utilities.

Listing Agent

  1. Steve Kehoe

    Steve Kehoe

    Listing Agent

    Compass

    steve.kehoe@compass.com

    P: (513)-200-9082

Sold By Compass

Property Details for 2501 North Richmond Street

Area
CHI - Logan Square
Township
North Chicago
Num Of Parking Spaces
2.0
LISTING UPDATED: 08/03/2023 12:37 PM

Property Details for 2501 North Richmond Street

StatusClosed
MLS #11386769
Days on Market6
Taxes$16,210 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Interior Entrance
Year Built1916
Lot Size0.14 AC / 6,098 SF
CountyCook County
Buyer's Agent Compensation2.5%
Add your commute

Building Information for 2501 North Richmond Street

Stories2Residences6Year Built1916Building Size-Lot Size0.14 AC / 6,098 SF

Payment Calculator

$11,214 per month

30 year fixed, 6.845% Interest

Principal and Interest

$9,863

Property Taxes

$1,351

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2501 North Richmond Street

General Information
Addtl Parking Information
  • Indoor Parking: 1-5 Spaces
Location and General Information
  • Information: List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Bedrooms Possible: 8
  • Air Conditioning: Central Air
  • Heat/Ventilation: Central Heat/Indiv Controls,Separate Per Unit,Radiant
  • Washer/Dryer Lsd: Yes
  • Num of Baths: 6.0
Exterior Features
  • Type: 2 Stories
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Type Detached: 2 Stories
  • Type Attached: Low Rise (1-3 Stories)
  • Multi-Family Type: Corridor-Interior Entrance
  • Total Sq Ft: 6498.0
  • Lot Size: 6098.0
  • Lot Dimensions: 25 X 125
  • Lot Size Square Feet: 6098.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Construction: Brick
  • Building Area Total: 6498
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 50
Miscellaneous
  • Current Use: Multi-Family
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: $571.00
  • Fuel Expense: $33.00
  • Gross Income: $158,544.00
  • Gross Scheduled Income: $159,469.00
  • Insurance Expense: $4,607.00
  • Maintenance Expense: $4,610.00
  • Manager Expense: $7,621.00
  • Electric Expense Source: Actual
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 0
  • Manager Expense Source: AC
  • Other Expense Source: Actual
  • Repairs-Decor Expense Source: Actual
  • Total Monthly Income: 13212
  • Water Expense Source: Actual
  • Net Operating Income: $121,761.00
  • Operating Expense: $36,783.00
  • Other Expense: $535.00
  • Trash Expense: $.00
  • Water Sewer Expense: $2,590.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 2
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 4
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 2501 North Richmond Street

DateEvent & SourcePriceAppreciation
Jun 15, 2022

Sold

MRED #11386769

$1,882,500
May 5, 2022

Sold (Public Record)

Public Record #1492760487

$1,835,500
May 2, 2022

Pending

MRED #11386769

Apr 27, 2022

Listed (Active)

MRED #11386769

$1,860,000
DateEvent & SourcePrice
06/15/2022

Sold

MRED #11386769

$1,882,500
05/05/2022

Sold (Public Record)

Public Record #1492760487

$1,835,500
05/02/2022

Pending

MRED #11386769

04/27/2022

Listed (Active)

MRED #11386769

$1,860,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2501 North Richmond Street

Taxable ValueLand$30,240Additions$121,393Total$151,633
Tax Record2023$32,107 ($2,676 / month)
Home Facts
Baths4Total Finished SqFt3,249 SqFtAbove Grade Finished SqFt3,249 SqFtStories2Lot Size6,048 SqFtStyleMulti-Family Res (5+ Units)Year Built1915CountyCOOKAPN13-25-317-019

Schools near 2501 North Richmond Street

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - K to 8
Public - 9 to 12
Rating
School
Distance
Brentano Elementary Math & Science Academy
PublicPK to 8

Clemente Community Academy High School
Public9 to 12

Acero Charter - Carlos Fuentes Campus
CharterK to 8

Pathways In Education 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.

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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. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

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. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 08/03/2023 12:37 PM. 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.