5230 S Lockwood Ave

Chicago, IL 60638 View Map $489,900 Schedule a Tour
Beds10
Baths4
On Site21 days
Year1918
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Mark Allen Realty

Mark Allen Realty

(773) 938-5220
 
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Barry Schwartz

Barry Schwartz

(773) 617-9738
Senior Loan Officer

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Status: Pending - Under Contract
Property Type:Multi Family- 2-4 Units
MLS #:11978866
On Site:21 Days
County:Cook
GARFIELD PARK UNIQUE PROPERTY FOR A INVESTOR OR OWNER OCUPIED WITH 3 RENTAL UNITS TO LOWER THE MORTGAGE TO ALMOST NOTHING. THIS PROPERTY HAS 2 BUILDINGS WITH 4 LEGAL UNITS. 1 UNIT IS OWNER OCCUPIED AND HAS BEEN RENOVATED TO 90%. THE MAIN UNIT HAS 4 BEDROOMS 1 BATH WITHE THE 2ND FLOOR BATH ROUGHED IN READY TO BE FINISHED. KITCHEN WAS REMODELED A COUPLE YEARS AGO. THE BASEMENT UNIT IS ABOUT 80% RENOVATED 2 BEDROOM 1 BATH AND COULD BE FINISHED QUICKLY TO RENT OR RELATED LIVING. THE REAR BUILD HAS 2 UNITS WITH SEPARATE ENTRANCES THE UPSTAIRS UNIT IS 90% RENOVATED 2 BEDROOM 1 BATH UNIT AND COULD BE FINISHED QUICKLY TO RENT. THE LOWER UNIT IS ABOUT 50% RENOVATED 2 BEDROOM 1 BATH UNIT. WITH SOME CREATIVE SWEAT EQUITY THIS 4 UNIT IS A GREAT INVESTMENT ESTIMATES TO FINISH THE 4 UNITS ARE APPROX $70K AND AFTER REMODEL VALUE IS $700K - $750K. THE RENTAL ON THE 3 UNITS SHOULD BE APPROX 4K - 4.5K PER MONTH. ALLL 4 UNITS WOULD BE 7K- 7.5K. ALL UNITS HAVE SEPARATE ELECTRIC AND GAS METERS THE 2 REAR UNITS HAVE SEPARATE HOT WATERS THE FRONT BUILD SHARE THE HOT WATER HEATER IT COULD BE CHANGE TO SEPARATE. ALL WATER IS ON ONE BILL. ALL UNITS HAVE SEPARATE HEATERS NO A/C EXCEPT WINDOW UNITS. THE PROPERTY HAS BEEN OWNED BY THE SAME FAMILY FOR 40 YEARS AND DUE TO HEALTH CANNOT FINISH THE PROJECTS TO BRING THE UNITS BACK TO RENTABLE CONDITION, THE PROPERTY IS BEING SOLD AS-IS NO FHA OFFERS WILL BE CONSIDERED. CONVENTIONAL 203K OR CASH OFFERS. GREAT LOCATION CLOSE TO SHOPPING AND EXPRESSWAY GREAT RENTAL AREA.

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Community Information

Address:5230 S Lockwood Ave, Chicago, IL 60638
Area:Garfield Ridge
County:Cook
City:Chicago
School District:299
Township:Lake
Zip Code:60638

Architecture

Bedrooms: 10
Bathrooms: 4
Year Built:1918
Exterior Construction Type: Vinyl Siding
Total # Units in Building: 4
Age Range: 100+ Years
Roof: Asphalt
Basement: Finished
Basement Type: Full

Features / Amenities

Exterior Features: Balcony, Deck, Porch
Parking Total: 0
Heat Source / Type: Natural Gas
Total Rooms:19

Property Features

Lot Dimensions:Less Than .25 Acre
Lot Features: Fenced Yard, Irregular Lot
Sewer: Public Sewer
Water: Lake Michigan
Transportation: Commuter Bus, Interstate Access
Open House Count: 0
Directions:Archer Ave East of Central to Lockwood north 1st House on Left

Tax and Financial Info

Tax Year: 2021
Tax Annual Amount: $8,580
Ownership: Fee Simple
Contingency: Attorney/Inspection

Schools

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5230 S Lockwood Ave Chicago,  IL 60638
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5230 S Lockwood Ave Chicago, IL 60638
 
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Listing provided courtesy of RE/MAX Ultimate Professionals.

Listings courtesy of MRED MLS as distributed by MLS GRID

Based on information submitted to the MLS GRID as of March 3, 2024 12:30 PM CST. 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.

Properties displayed may be listed or sold by various participants in the MLS