$350,000
$349,900
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131 Arbor Avenue West Chicago, IL 60185
5 Beds
0.3 Acres Lot
Key Details
Sold Price $350,000
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 12112461
Sold Date 10/02/24
Bedrooms 5
Year Built 1880
Annual Tax Amount $9,269
Tax Year 2023
Lot Size 0.300 Acres
Lot Dimensions 67 X 195 X 66 X 200
Property Description
WOW - WHAT A 3 FLAT OPPORTUNITY!! Why not own this building AND Live in it too!? Thats right, even qualified minimum down Buyers can secure an FHA loan on this SOLID 3-unit Building with a WALK-OUT Full-sized Basement, from the turn of the century and live almost rent-free! Thats right let someone else pay your mortgage, while enjoying life in this magnificent Historic Charmer. They just don't build them this way anymore. Sure, it may need some work, but the BONES ARE GOOD and the presence it commands in the neighborhood will only improve with upgrades you make. All of the apartments are generous sized - Units 1 & 2 are each approximately 1250 sq. ft. and the 3rd floor is very comfortable too! Rents are still far below what they could be. 2 of the apartments are heated by Hot Water Baseboard/radiator heat. The 3rd floor has Electric baseboard heaters. 1 & 2 unit has 4 A/C Units, while 3rd floor has at least 2. AND ALL 3 Tenants pay electric. Ideally - someone will see the TRUE Potential as the West Chicago Downtown Area continues to improve - NOTE Train is about 6 blocks, Reed Keppler Park / the Arc/ Turtle Splash Pool about 5 blocks, Library and Dining just 1 block +/-. As an Investor - don't just buy this and squeeze it financially - which you can ... put some money back into it and the return on your investment will be well enjoyed for years to come!
Location
State IL
County Dupage
Community Sidewalks, Street Lights, Street Paved
Zoning MULTI
Rooms
Basement Full, Walkout
Interior
Heating Natural Gas, Steam, Baseboard, Radiator(s), Indv Controls, Zoned
Fireplace N
Exterior
Garage Detached
Garage Spaces 2.0
Waterfront false
View Y/N true
Roof Type Asphalt
Building
Lot Description Corner Lot, Streetlights
Foundation Concrete Perimeter, Stone
Sewer Public Sewer
Water Public
New Construction false
Schools
School District 33, 33, 94
Others
Ownership Fee Simple
Special Listing Condition None
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Daniel Czuba • Daniel & Associates Real Estate