Address
5230 S Lockwood Avenue, Chicago, IL
Price
$ 489,900
Property Attributes
  • MLS#11978866
  • TypeContingent
  • CountyCOOK
  • CityChicago
  • AreaCHI - Garfield Ridge
  • Zip60638
  • Style
  • Year Built1918
  • Taxes$ 8580
  • Price$ 489,900
  • Bedrooms10
  • Full Bathrooms4
  • Half Bathrooms0
  • Sqr Footage5400
Data Source:
Midwest Real Estate Data (MRED)
Property Description

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.

Price History
2/12/2024 Listed $489,900

General Features

Sewer Public Sewer
Heating Natural Gas
Possession Negotiable,Specific,Close Plus 15 Days
Roof Asphalt
Exterior Features Balcony,Deck,Porch
Year Built 1918
Township Lake
Tax Year 2021
Percent Ownership Fee Simple
Community Features Curbs,Sidewalks,Street Lights,Street Paved
County Cook
New Construction No
Property Type Residential Income
Contingency Attorney/Inspection
Total Rooms 19
Status Contingent
Directions Archer Ave East of Central to Lockwood north 1st House on Left
City Chicago
High School District 299
MLS Area CHI - Garfield Ridge
Waterfront Y/N No
Street Name Lockwood
Tax Annual Amount 8580
Days on Market 10
Standard Status Active Under Contract
Middle/Junior School District 299
Elementary School District 299
Property Type Two to Four Units

Interior Features

Basement Full
Street Suffix Avenue
Total Bedrooms 10
Total Baths 4
Bedrooms Possible 10
Basement Finished
Full Baths Building 4
Total Number of Units 4

Exterior Features

Lot Features Fenced Yard,Irregular Lot
Water Source Lake Michigan
Lot Dimensions 34X128X58X125.6
Exterior Vinyl Siding

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 60638

Price
AVG $340K
$490K
Taxes
AVG $4,579
$8,580
Visits
AVG 209
12
Data Provided by Inside Real Estate®
Year Built
AVG 1958
1918

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