6501 South Hermitage Avenue

Chicago, IL 60636

$545,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This newly renovated (2021) 6 unit mixed use building has a very favorable unit mix featuring three 3 bed 2 bath units, two 2 bed 1 bath units and one commercial space with a full bath with near market rents in all units except 1. While there's some upside potential on income, this property is an easy armchair addition to your portfolio with positive cashflow and very little to no deferred maintenance. With one unit vacant - the property is easy to show as initial showings will be of the vacant unit...This newly renovated (2021) 6 unit mixed use building has a very favorable unit mix featuring three 3 bed 2 bath units, two 2 bed 1 bath units and one commercial space with a full bath with near market rents in all units except 1. While there's some upside potential on income, this property is an easy armchair addition to your portfolio with positive cashflow and very little to no deferred maintenance. With one unit vacant - the property is easy to show as initial showings will be of the vacant unit and common areas. This property is eligible for several financing options for well qualified buyers - please inquire with listing agent if you're seeking a resource to fund this deal.
  1. Listed by Brandy Bell • Baird & Warner

Property Details for 6501 South Hermitage Avenue

Area
CHI - West Englewood
Township
Hyde Park
Zoning
MULTI
LISTING UPDATED: 11/13/2024 09:40 PM

Property Details for 6501 South Hermitage Avenue

StatusActive
MLS #12122804
Days on Market151
Taxes$1,687 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1911
Lot Size0.13 AC / 5,535 SF
CountyCook County

Building Information for 6501 South Hermitage Avenue

Stories3Residences6Year Built1911Lot Size0.13 AC / 5,535 SF

Property Information for 6501 South Hermitage Avenue

General Information
Addtl Parking Information
  • Indoor Parking: 1-5 Spaces
  • Outdoor Parking: 1-5 Spaces
Location and General Information
  • Geographic Locale: Chicago South
  • Information: List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Electric: Circuit Breakers, Separate Meters
  • # Of Washers: 3
  • Heat/Ventilation: Central Heat/Indiv Controls
  • # Of Refrigerators: 5
  • Washer/Dryer Lsd: No
  • # Of Dryers: 3
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 5
Property/Lot Information
  • Owners Association: No
  • Tenant Pays: Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: New Rehab
  • Lot Dimensions: .12
  • Lot Size Square Feet: 5535.0
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Fire Protection: Alarm On Site,Fire Extinguisher/s,Smoke or Fire Protectors,Carbon Monoxide Detector(s)
  • Building Area Total: 6200
  • # Of Offices: 1
  • Office SqFt: 900
  • Other SqFt: 5300
  • # Of Ranges: 5
  • # Of Stores: 3
  • Property Sub Type: Mixed Use
  • MRD_UNC: No
Property and Assessments
  • Buyer Financing: Conventional, Cash
  • Public Document Count: 0
  • Photos Count: 14
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: $1,300.00
  • Fuel Expense: $.00
  • Gross Income: $95,172.00
  • Gross Scheduled Income: $95,172.00
  • Insurance Expense: $4,320.00
  • Electric Expense Source: Actual
  • Expense Year: 2024
  • Total Annual Expense Source: Owner Projection
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Trash Expense Source: Actual
  • Total Monthly Income: 7831
  • Water Expense Source: Actual
  • Net Operating Income: $84,565.00
  • Operating Expense: $10,607.00
  • Other Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $3,300.00

Property History for 6501 South Hermitage Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 6501 South Hermitage Avenue

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 - PK to 8
Rating
School
Distance
Otoole Elementary School
PublicPK to 8

Englewood STEM High School
Public9 to 12

Davis M Magnet Elementary School
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.

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6501 South Hermitage Avenue is a mixed use property for sale in Chicago, IL 60636. This property was listed for sale on August 9, 2024 by Baird & Warner, it's currently listed at $545,000. This listing's school district is Chicago Public Schools. Nearby schools include Otoole Elementary School, Englewood STEM High School and Providence-Englewood Elementary Charter School. 6501 South Hermitage Avenue is a 0-bed, 0-bath, mixed use property built in 1911.

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 Baird & Warner

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 11/13/2024 09:40 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.