317 East 116th Street
$178,000
12
6
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Description
Amazing Cash Flow Opportunity: Two Investment Buildings for the Price of One in the Hot West Pullman Area! Don't miss out on this incredible investment opportunity in the rapidly growing West Pullman neighborhood! This property offers two buildings for the price of one, making it an ideal project for savvy investors or rehabbers. With owner financing available, this is a fantastic chance to secure a property with great potential. The front building has suffered fire damage and requires significant...Amazing Cash Flow Opportunity: Two Investment Buildings for the Price of One in the Hot West Pullman Area! Don't miss out on this incredible investment opportunity in the rapidly growing West Pullman neighborhood! This property offers two buildings for the price of one, making it an ideal project for savvy investors or rehabbers. With owner financing available, this is a fantastic chance to secure a property with great potential. The front building has suffered fire damage and requires significant work, including a gut rehab of two of its four units and a new roof. However, with the right investment, this building has the potential to generate substantial rental income. The second building on the property is in rentable condition with two units already available. This provides immediate cash flow while you work on completing the rehab of the front building. The owner is willing to consider a down payment of $10,000 and will extend the loan balance for up to 12 months to allow the buyer ample time to finish the necessary work on the front building. The best estimates suggest that approximately $60,000 will be needed to complete the renovations, including the new roof and updating the units to a marketable standard. The owner is confident that once the renovations are completed and the apartments are rented, this property could easily sell for more than $300,000. This is a prime opportunity to invest in a property with enormous potential for appreciation. Whether you are looking for a long-term investment or a project to rehab and flip, this property offers great value. Act fast-this kind of opportunity doesn't come around often!
- Listed by Tatyana Kukso • Realty Advisors Elite LLC
Property Details for 317 East 116th Street
Area
CHI - West Pullman
LISTING UPDATED: 12/12/2024 12:40 PM
Property Details for 317 East 116th Street
Status | New |
---|---|
MLS # | 12255340 |
Days on Market | 6 |
Taxes | $2,832 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family 5+ / Flats |
Year Built | 1902 |
Lot Size | 0.10 AC / 4,450 SF |
County | Cook County |
Building Information for 317 East 116th Street
Stories2Residences6Year Built1902Building Size-Lot Size0.10 AC / 4,450 SF
Property Information for 317 East 116th Street
Property History for 317 East 116th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 317 East 116th Street
Taxable ValueLand$4,189Additions$8,406Total$12,595
Tax Record2022$2,598 ($217 / month)
Home Facts
Baths2Total Finished SqFt1,680 SqFtAbove Grade Finished SqFt1,680 SqFtStories2Lot Size4,410 SqFtStyleMulti-Family Res (5+ Units)Year Built1902CountyCOOKAPN25-22-312-007
Schools near 317 East 116th 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 | |||
Charter - | 5 to 12 |
Rating | School | Distance |
---|---|---|
Pullman Elementary School PublicPK to 8 | ||
Corliss High School Public9 to 12 | ||
CICS Prairie CharterK to 8 | ||
Chicago Collegiate Charter School Charter5 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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