317 East 116th Street

Chicago, IL 60628

$178,000
Price
12
Beds
6
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

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!
  1. 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

StatusNew
MLS #12255340
Days on Market6
Taxes$2,832 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Flats
Year Built1902
Lot Size0.10 AC / 4,450 SF
CountyCook 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

General Information
Location and General Information
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Heat/Ventilation: Forced Air,Gas
  • Num of Baths: 6.0
Property/Lot Information
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Flats
  • Lot Dimensions: 25X178
  • Stories: 2
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 6
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: $480.00
  • Fuel Expense: $.00
  • Gross Income: $45,600.00
  • Gross Scheduled Income: $45,600.00
  • Insurance Expense: $2,476.00
  • Maintenance Expense: $1,149.00
  • Janitor Expense: 0
  • Total Monthly Income: 3800
  • Net Operating Income: $36,765.00
  • Operating Expense: $8,835.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $1,883.00
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: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 2
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 2
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 317 East 116th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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.

Similar Homes

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317 East 116th Street is a multi-family home for sale in Chicago, IL 60628. This property was listed for sale on December 12, 2024 by Realty Advisors Elite LLC, it's currently listed at $178,000. It has been on the market for a total of 6 days and was last sold on July 2, 2019. This listing's school district is Chicago Public Schools. Nearby schools include Pullman Elementary School, Corliss High School and CICS Prairie. 317 East 116th Street is a 12-bed, 6-bath, multi-family home built in 1902.

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.

Listing Courtesy of Realty Advisors Elite LLC

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 12/12/2024 12:40 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.