7403 West 71st Street

Bridgeview, IL 60455

$949,990
Price
7
Beds
5
Baths
1
1/2 Bath
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Discover an unparalleled investment opportunity with this five-unit apartment building, situated in the highly desirable area of Bridgeview. This property is fully remodeled and offers a perfect blend of modern amenities, recent upgrades, and exceptional income potential, making it a standout choice for savvy investors. This income generating property consists of spacious four one-bedroom units and one three-bedroom unit, providing diverse rental options. The strategic combination of units to create...Discover an unparalleled investment opportunity with this five-unit apartment building, situated in the highly desirable area of Bridgeview. This property is fully remodeled and offers a perfect blend of modern amenities, recent upgrades, and exceptional income potential, making it a standout choice for savvy investors. This income generating property consists of spacious four one-bedroom units and one three-bedroom unit, providing diverse rental options. The strategic combination of units to create a three-bedroom, two-bath configuration maximizes space and appeal to tenants. Every unit is equipped with high-efficiency systems energy-efficient appliances, including fridges, stoves, and wall unit ACs, ensuring low operating costs and high tenant satisfaction. The building features LED lighting throughout the hallways, enhancing both aesthetics and energy efficiency. The property offers modern safety and convenience with smoke detectors and carbon monoxide detectors for optimal safety. Coin-operated laundry facilities have shown impressive growth in revenue and convenience for tenants. Major renovations have been completed, including a new roof and gutters just five years ago and new windows installed six years ago. The water heater was replaced two years ago, and most of the appliances have been upgraded within the past year. The building features beautiful pinewood trim throughout, adding a touch of elegance and durability that sets it apart from other properties. The separate utilities for gas and electric ensure tenants are responsible for their usage, further enhancing profitability. The coin-operated laundry is a lucrative income source, offering value-added potential: with revenue doubling in just three months. This additional income stream enhances the property's overall yield and provides opportunities for future growth. Situated in Bridgeview, this property offers location advantage and gives tenants convenient access to local amenities, schools, gas stations, restaurants, fast food, Walmart, Pete's Market, Menards, gyms, the Village of Bridgeview building and Police Station is blocks away, Jewelry stores, memorial parks, UPS customer centers, transportation, Bridgeview's stadium SeatGeek known as Toyota Park prior, and more. Its prime location ensures high occupancy rates and consistent demand, making it a stable and lucrative investment. This apartment building in Bridgeview is not just an investment; it's a strategic asset designed to generate consistent income while offering growth and appreciation. With its modern amenities, recent upgrades, and exceptional revenue potential, it stands as a premier choice for investors seeking a reliable and profitable real estate opportunity.
  1. Listed by Mohammad Mohammad • Chicagoland Brokers, Inc.

Property Details for 7403 West 71st Street

Area
Bridgeview
Zoning
MULTI
LISTING UPDATED: 09/10/2024 12:07 AM

Property Details for 7403 West 71st Street

StatusActive
MLS #12152298
Days on Market26
Taxes$14,150 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Flats
Year Built1974
Lot Size0.18 AC / 7,710 SF
CountyCook County

Building Information for 7403 West 71st Street

Stories3Residences5Year Built1974Building Size-Lot Size0.18 AC / 7,710 SF

Property Information for 7403 West 71st Street

General Information
Addtl Parking Information
  • Outdoor Parking: 6-12 Spaces
Location and General Information
  • Frontage Type: Public Road
  • Information: 24-Hr Notice Required,List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • # Of Washers: 1
  • Heat/Ventilation: Central Bldg Heat
  • # Of Refrigerators: 5
  • # Of Dryers: 1
  • # Of Disposals: 1
  • # Of Dishwashers: 5
  • Num of Baths: 5.1
Exterior Features
  • Building Unit Info: All Units Furnished,Fire Alarm,Security System,Smoke/Alarm Detector,Storage/Locker Area
Property/Lot Information
  • Owners Association: Yes
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: 36-50 Years
  • Multi-Family Type: Flats
  • Lot Dimensions: 7710
  • Lot Size Square Feet: 7710.0
  • Stories: 3
  • Exterior Building Type: Brick
  • Construction: Brick
  • Roof Type: Composition
  • Foundation Details: Concrete Perimeter
  • Building Area Total: 5000
Property and Assessments
  • Possible Use: Commercial, Condominium, Office and Research, Development, Multi-Family
  • Buyer Financing: Conventional
  • Public Document Count: 2
  • Document Date: 2024-09-04T17:21:32
  • Photos Count: 35
Miscellaneous
  • Current Use: Multi-Family
  • Land Amenities: Curbs and Gutters,Lighting/Exterior,Sidewalks,Cable Ready
  • Location: Corner
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 5
Income & Expenses
  • Electric Expense: $2,400.00
  • Fuel Expense: $2,500.00
  • Gross Income: $96,575.00
  • Gross Scheduled Income: $93,600.00
  • Insurance Expense: $2,000.00
  • Maintenance Expense: $2,500.00
  • Manager Expense: $3,000.00
  • Known Encumbrances: None Known
  • Expense Year: 2024
  • Janitor Expense: 1200
  • Total Monthly Income: 7800
  • Net Operating Income: $75,710.00
  • Operating Expense: $16,090.00
  • Other Expense: $1,300.00
  • Trash Expense: $1,200.00
  • Water Sewer Expense: $1,500.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 4
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 1
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 7403 West 71st 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 7403 West 71st Street

Taxable ValueLand$3,084Additions$19,431Total$22,515
Tax Record2022$9,001 ($750 / month)
Home Facts
Baths5.5Total Finished SqFt4,870 SqFtAbove Grade Finished SqFt4,870 SqFtStories2Lot Size7,712 SqFtStyleMulti-Family Res (5+ Units)Year Built1973CountyCOOKAPN18-25-203-008

Schools near 7403 West 71st Street

This home is within Argo Chsd 217 School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Rating
School
Distance
Bridgeview Elementary School
PublicK to 6

Geo T Wilkins Jr High School
Public7 to 8

Argo Community 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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7403 West 71st Street is a multi-family home for sale in Bridgeview, IL 60455. This property was listed for sale on September 4, 2024 by Chicagoland Brokers, Inc., it's currently listed at $949,990. It has been on the market for a total of 26 days and was last sold on January 12, 2004. This listing's school districts are Argo Chsd 217 School District, Indian Springs School District 109. Nearby schools include Bridgeview Elementary School, Geo T Wilkins Jr High School and Argo Community High School. 7403 West 71st Street is a 7-bed, 5.5-bath, multi-family home built in 1974.

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 Chicagoland Brokers, Inc.

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 09/10/2024 12:07 AM. 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.