636 East 44th Street

Chicago, IL 60653

$1,000,000
Price
14
Beds
6
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

636 E. 44th St., is a rarely available six (6) unit center entrance building in Chicago's booming Bronzeville neighborhood. This incredible investment is priced to sell at close to a 8 cap on current numbers with strong income from day one. The property sits on an extra-wide corner lot on the southeast corner of 44th Street and Champlain, overlooking Armstrong Park. Conveniently located near the CTA Green Line at 43rd (10-minute walk), numerous bus stops, nearby I-90, and Lake Shore Drive, renters...636 E. 44th St., is a rarely available six (6) unit center entrance building in Chicago's booming Bronzeville neighborhood. This incredible investment is priced to sell at close to a 8 cap on current numbers with strong income from day one. The property sits on an extra-wide corner lot on the southeast corner of 44th Street and Champlain, overlooking Armstrong Park. Conveniently located near the CTA Green Line at 43rd (10-minute walk), numerous bus stops, nearby I-90, and Lake Shore Drive, renters have easy commuting access to downtown. The property comprises (4) 3-bed / 1-bath and (2) 2-bed / 1-bath apartments, offering a balanced mix to cater to a variety of potential renters. The units feature hardwood floors, updated kitchens & bathrooms, and spacious living/dining rooms. In addition to the cosmetic upgrades, the building has newer hot water tanks, a fully re-built boiler, newer windows, well-maintained roof, upgraded common area, stairwells/entryway and lighting. 636 E. 44th St. presents an investor a unique opportunity of a acquiring a stabilized and strong cash-flowing asset in in one of Chicago's most developing and desirable neighborhoods Bronzeville. Upon acquisition, a new owner may capitalize on an incredibly strong and rapidly growing tenant base and realize an in-place 7.89 cap rate. With ongoing development in the area, there is an opportunity to further add value by bringing rents to increasing market rate levels in existing condition, and/or convert unit 2E into a 3-bed / 1-bath layout or further unlock additional rental income by installing ventless all-in-one washer/dryer combos.
  1. Listed by Harrison Cohen • Triton Realty Group LLC
  2. Listed by Alexander Summers • Triton Realty Group LLC

Property Details for 636 East 44th Street

Area
CHI - Grand Boulevard
Township
Hyde Park
Zoning
MULTI
LISTING UPDATED: 09/16/2024 02:56 PM

Property Details for 636 East 44th Street

StatusPrice Change
MLS #12158894
Days on Market13
Taxes$7,486 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Flats
Year Built1873
Lot Size0.11 AC / 4,800 SF
CountyCook County

Virtual Tour

Building Information for 636 East 44th Street

Stories3Residences6Year Built1873Building Size-Lot Size0.11 AC / 4,800 SF

Property Information for 636 East 44th Street

General Information
Location and General Information
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • # Of Washers: 2
  • Heat/Ventilation: Central Bldg Heat,Gas,Radiators
  • # Of Refrigerators: 6
  • # Of Dryers: 2
  • Num of Baths: 6.0
Property/Lot Information
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Flats
  • Lot Dimensions: 4800
  • Lot Size Square Feet: 4800.0
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Building Area Total: 7425
  • Lot Size Source: County Records
  • # Of Ranges: 6
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 30
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: $165.00
  • Fuel Expense: $4,800.00
  • Gross Income: $117,660.00
  • Gross Scheduled Income: $119,460.00
  • Insurance Expense: $3,180.00
  • Maintenance Expense: $3,600.00
  • Janitor Expense: 540
  • Total Monthly Income: 9805
  • Net Operating Income: $78,885.00
  • Operating Expense: $34,602.00
  • Other Expense: $1,200.00
  • Trash Expense: $1,884.00
  • Water Sewer Expense: $2,289.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 2
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • 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 636 East 44th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 636 East 44th Street

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - 9 to 12
Charter - PK to 5
Rating
School
Distance
Ariel Elementary Community Academy
PublicPK to 8

King College Prep High School
Public9 to 12

LITTLE BLACK PEARL ARTS ACAD HS
Public9 to 12

Univ of Chicago Chtr-Nth Kenwood
CharterPK to 5

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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636 East 44th Street is a multi-family home for sale in Chicago, IL 60653. This property was listed for sale on September 9, 2024 by Triton Realty Group LLC, it's currently listed at $1,000,000. This listing's school district is City Of Chicago School District 299. Nearby schools include Ariel Elementary Community Academy, King College Prep High School and LITTLE BLACK PEARL ARTS ACAD HS. 636 East 44th Street is a 14-bed, 6-bath, multi-family home built in 1873.

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 Triton Realty Group 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 09/16/2024 02:56 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.