7514 South Essex Avenue

Chicago, IL 60649

$775,000
Price
24
Beds
16
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Charming historic 8-unit brick property in the South Shore Community of Chicago. A rare investment opportunity just steps away from the picturesque lake michigan. This stately brick building with a total of eight units, each one has a spacious layout of 2000 sq ft with hardwood floors that add a touch of elegance. Natural light floods through the windows, creating a bright and inviting atmosphere. Ideal for comfortable living, each unit features three bedrooms and two full baths providing a thoughtful...Charming historic 8-unit brick property in the South Shore Community of Chicago. A rare investment opportunity just steps away from the picturesque lake michigan. This stately brick building with a total of eight units, each one has a spacious layout of 2000 sq ft with hardwood floors that add a touch of elegance. Natural light floods through the windows, creating a bright and inviting atmosphere. Ideal for comfortable living, each unit features three bedrooms and two full baths providing a thoughtful designed to blend modern convenience with classic charm.

Property Details for 7514 South Essex Avenue

Area
CHI - South Shore
Zoning
MULTI
LISTING UPDATED: 08/17/2024 03:37 AM

Property Details for 7514 South Essex Avenue

StatusActive
MLS #12125470
Days on Market86
Taxes$9,600 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Interior Entrance
Year Built1922
Lot Size0.17 AC / 7,440 SF
CountyCook County

Building Information for 7514 South Essex Avenue

Stories3Residences8Year Built1922Building Size-Lot Size0.17 AC / 7,440 SF

Property Information for 7514 South Essex Avenue

General Information
Addtl Parking Information
  • Indoor Parking: 6-12 Spaces
Location and General Information
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air
  • Electric: Circuit Breakers, Service - 0 to 100 Amps
  • Heat/Ventilation: Forced Air,Gas
  • Num of Baths: 16.0
Utilities / Equipment
  • Utilities: Water-Municipal, Cable Available
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: Yes
  • Approximate Age: New Rehab
  • Multi-Family Type: Corridor-Interior Entrance
  • Lot Dimensions: 124' X 60'
  • Stories: 3
  • Fire Protection: Fire Extinguisher/s,Carbon Monoxide Detector(s)
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 4
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 8
Income & Expenses
  • Electric Expense: $3,600.00
  • Fuel Expense: $.00
  • Gross Income: $151,200.00
  • Gross Scheduled Income: $151,200.00
  • Insurance Expense: $12,000.00
  • Maintenance Expense: $18,000.00
  • Manager Expense: $16,800.00
  • Electric Expense Source: Broker Projection
  • Expense Year: 2024
  • Total Annual Expense Source: Broker Projection
  • Fuel Expense Source: Broker Projection
  • Insurance Expense Source: Broker Projection
  • Janitor Expense: 7800
  • Manager Expense Source: BP
  • Other Expense Source: Broker Projection
  • Repairs-Decor Expense Source: Broker Projection
  • Trash Expense Source: Broker Projection
  • Total Monthly Income: 9500
  • Water Expense Source: Broker Projection
  • Net Operating Income: $42,400.00
  • Operating Expense: $108,800.00
  • Other Expense: $2,000.00
  • Trash Expense: $7,800.00
  • Water Sewer Expense: $10,800.00
Unit 1
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 8
Unit 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 0
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 7514 South Essex Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 7514 South Essex Avenue

Taxable ValueLand$6,704Additions$38,632Total$45,336
Tax Record2022$9,325 ($777 / month)
Home Facts
StyleMulti-Family Res (5+ Units)CountyCOOKAPN21-30-301-031

Schools near 7514 South Essex Avenue

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
Public - 9 to 12
Rating
School
Distance
Excel Academy - Woodlawn HS
Public9 to 12

South Shore Intl Col Prep 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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7514 South Essex Avenue is a multi-family home for sale in Chicago, IL 60649. This property was listed for sale on July 30, 2024 by Exit Strategy Realty / EMA Management, it's currently listed at $775,000. It has been on the market for a total of 86 days and was last sold on April 19, 2019. This listing's school district is City Of Chicago School District 299. Nearby schools include Bradwell Community Arts & Sci Elementary School, Chicago Vocational Career Academy High School and Excel Academy - Woodlawn HS. 7514 South Essex Avenue is a 24-bed, 16-bath, multi-family home built in 1922.

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 Exit Strategy Realty / EMA Management; EXIT Strategy Realty

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 08/17/2024 03:37 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.