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317 E 116th Street

Chicago, IL 60628
  • $178,000
  • STATUS: Active
  • ON SITE: 59 Days
  • MLS #: 12255340
UPDATED: 82 min ago
$178,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1902
County:
Area:

School Ratings & Info

Description

Amazing Cash Flow Opportunity: Two Investment Buildings for the Price of One in the Hot West Pullman Area! Don't miss out on this incredible investment opportunity in the rapidly growing West Pullman neighborhood! This property offers two buildings for the price of one, making it an ideal project for savvy investors or rehabbers. With owner financing available, this is a fantastic chance to secure a property with great potential. The front building has suffered fire damage and requires significant work, including a gut rehab of two of its four units and a new roof. However, with the right investment, this building has the potential to generate substantial rental income. The second building on the property is in rentable condition with two units already available. This provides immediate cash flow while you work on completing the rehab of the front building. The owner is willing to consider a down payment of $20,000 and will extend the loan balance for up to 12 months to allow the buyer ample time to finish the necessary work on the front building. The best estimates suggest that approximately $60,000 will be needed to complete the renovations, including the new roof and updating the units to a marketable standard. The owner is confident that once the renovations are completed and the apartments are rented, this property could easily sell for more than $300,000. This is a prime opportunity to invest in a property with enormous potential for appreciation. Whether you are looking for a long-term investment or a project to rehab and flip, this property offers great value. Act fast-this kind of opportunity doesn't come around often!

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© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2025-02-10T19:03:17.687 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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317 E 116th Street Chicago, IL 60628

  • Price: $178,000
  • Status: Active
  • On Site: 59 Days
  • Updated: 82 min ago
  • MLS #: 12255340
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1902
Built
Neighborhood:
Cook
County:
Cook
Area:
Cook
Property Description
Amazing Cash Flow Opportunity: Two Investment Buildings for the Price of One in the Hot West Pullman Area! Don't miss out on this incredible investment opportunity in the rapidly growing West Pullman neighborhood! This property offers two buildings for the price of one, making it an ideal project for savvy investors or rehabbers. With owner financing available, this is a fantastic chance to secure a property with great potential. The front building has suffered fire damage and requires significant work, including a gut rehab of two of its four units and a new roof. However, with the right investment, this building has the potential to generate substantial rental income. The second building on the property is in rentable condition with two units already available. This provides immediate cash flow while you work on completing the rehab of the front building. The owner is willing to consider a down payment of $20,000 and will extend the loan balance for up to 12 months to allow the buyer ample time to finish the necessary work on the front building. The best estimates suggest that approximately $60,000 will be needed to complete the renovations, including the new roof and updating the units to a marketable standard. The owner is confident that once the renovations are completed and the apartments are rented, this property could easily sell for more than $300,000. This is a prime opportunity to invest in a property with enormous potential for appreciation. Whether you are looking for a long-term investment or a project to rehab and flip, this property offers great value. Act fast-this kind of opportunity doesn't come around often!
Interior Features

Heat Ventilation Forced AirGas

Property Features

Additional Parcels YN No Approximate Age Older Built Before1978 YN Yes Gross Income 45600 Gross Scheduled Income 45600 Insurance Expense 2476 Maintenance Expense 1149 Mls Actual Status Active Net Operating Income 36765 Operating Expense 8835 Tax Annual Amount 2832.2 Tax Year 2022 Total Monthly Income 3800 Type Multi Family 5+

Listing information © 2025 Midwest Real Estate Data LLC.
Listing provided courtesy of Realty Advisors Elite LLC: 847-423-6644.


© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2025-02-10T19:03:17.687 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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7300 S Cottage Grove Ave Suite B
Chicago IL, 60619-1910