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4253 N Sawyer Avenue

Chicago, IL 60618
  • $675,000
  • STATUS: Active
  • ON SITE: 93 Days
  • MLS #: 11406223
UPDATED: 51 min ago
$675,000
  • 6
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1927
County:

School Ratings & Info

School District:
299

Description

What a beauty! You can live in one unit and rent out all of the other units, and live for practically free. Or, add this building to your rental portfolio! Come on in. Walk into an expansive formal, foyer area and then head to your apartments. Each unit is much larger on the inside than it appears when you look at it from the street level! Enter a formal living room accentuated with its hardwood floors and tall, nine foot ceilings. And enjoy the sun room just off of the living room with its large windows for that crisp, natural sunlight. There is a bedroom right off of the living room, which makes it feel like a private living quarter: and away from everyone else in the unit. Then head down the hallway, which features a common bathroom and yet another bedroom with similar features: high ceilings, ample closet space and spacious rooms! The kitchen is at the rear of the unit and it definitely has enough space for a breakfast table or even a nicely sized dinner table. The other notable feature of each unit consists of the dining room space, which is parallel to the kitchen at the south end of the unit. The dining room area is really large and it can be easily converted into a third bedroom for increased monthly cash flow; simply put, the front living room is large enough and there really is no need for a rear dining room. Similarly, there is a large, two car detached garage; you can use it or rent it for additional income. This beautiful building is close to Cermak Produce, Kedzie Metra, bus stops, Lane Technical High School, Horner Park and the list goes on and on. THE NEXT SECTION FOCUSES ON COMMON QUESTIONS. WHAT TYPES OF FINANCING ARE ALLOWED? Conventional, FHA and VA. We will work with FHA/VA buyers as it relates to lender required repairs. WHAT IS THE PROPERTY ZONED? This building is zoned RS-3. This is a legal 3-unit building. We do not represent the legality of the garden unit. WHAT ARE THE TRUE MARKET RENTS? In its current condition, you can easily collect $1,300 per month in rents for each unit. WHAT ARE THE PRESENT AND PROPOSED MARKET RENTS? In its present condition, you should be able to easily collect $1,300 per month. That brings your gross rental income at $3,900 per month or $46,800 per year. If you rehab each unit, you should be able to easily collect $1,800 per month, or $6,400 per month or $76,800 per year. WHAT REPAIRS ARE NEEDED IN EACH UNIT? Anticipated repairs are purely cosmetic such as, but not limited to, re-sanding hardwood floors, painting, new baseboards, shoes and trim work, updated bathroom and updated kitchen. WHAT ARE THE AGE OF THE MECHANICALS? Per the owner, the following items were replaced in 2010: windows, rubber roof and boiler. AFTER I REHAB IT, HOW MUCH IS THIS BUILDING WORTH? The estimated as-repaired value is conservatively between $750,000 to $800,000 depending on rehab quality. Please consult your agent for comparable sales data. HOW ARE THE UTILITIES DISTRIBUTED? ELECTRICITY: The first, second and third floor each pay their own electricity. The owner pays electricity for the common areas. In 2021, the owner paid $302 for electricity usage in the past 12 months or $25 per month. GAS: The owner pays for the entire building's gas service. In 2021, that gas bill came out to $3,682 for the past 12 months or $307 per month. The first, second and third floor owner's pay for their own cooking (stove) gas, which is inexpensive; for instance, the second floor is owner-occupied and, in 2021, the owner's cooking gas bill was $279 for the past 12 months or $23 per month. WATER: The owner pays for the entire building's water, sewer and garbage usage. In 2021, the estimated water bill is $2,217 per year or $185 per month. This one is a winner for many reasons; namely, interest rates are low, rents are rising and real estate is a great hedge against inflation. NOTE: This is an as-is, where-is sale; inspections may be conducted for information purposes.

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© 2022 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 2022-08-18T23:59:28.19 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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4253 N Sawyer Avenue Chicago, IL 60618

  • Price: $675,000
  • Status: Active
  • On Site: 93 Days
  • Updated: 51 min ago
  • MLS #: 11406223
6
Beds
0
Baths
0
½ Baths
N/A
Acres
1927
Built
Neighborhood:
Chi - Irving Park
County:
Cook
Area:
Chi - Irving Park
School District:
299
Property Description
What a beauty! You can live in one unit and rent out all of the other units, and live for practically free. Or, add this building to your rental portfolio! Come on in. Walk into an expansive formal, foyer area and then head to your apartments. Each unit is much larger on the inside than it appears when you look at it from the street level! Enter a formal living room accentuated with its hardwood floors and tall, nine foot ceilings. And enjoy the sun room just off of the living room with its large windows for that crisp, natural sunlight. There is a bedroom right off of the living room, which makes it feel like a private living quarter: and away from everyone else in the unit. Then head down the hallway, which features a common bathroom and yet another bedroom with similar features: high ceilings, ample closet space and spacious rooms! The kitchen is at the rear of the unit and it definitely has enough space for a breakfast table or even a nicely sized dinner table. The other notable feature of each unit consists of the dining room space, which is parallel to the kitchen at the south end of the unit. The dining room area is really large and it can be easily converted into a third bedroom for increased monthly cash flow; simply put, the front living room is large enough and there really is no need for a rear dining room. Similarly, there is a large, two car detached garage; you can use it or rent it for additional income. This beautiful building is close to Cermak Produce, Kedzie Metra, bus stops, Lane Technical High School, Horner Park and the list goes on and on. THE NEXT SECTION FOCUSES ON COMMON QUESTIONS. WHAT TYPES OF FINANCING ARE ALLOWED? Conventional, FHA and VA. We will work with FHA/VA buyers as it relates to lender required repairs. WHAT IS THE PROPERTY ZONED? This building is zoned RS-3. This is a legal 3-unit building. We do not represent the legality of the garden unit. WHAT ARE THE TRUE MARKET RENTS? In its current condition, you can easily collect $1,300 per month in rents for each unit. WHAT ARE THE PRESENT AND PROPOSED MARKET RENTS? In its present condition, you should be able to easily collect $1,300 per month. That brings your gross rental income at $3,900 per month or $46,800 per year. If you rehab each unit, you should be able to easily collect $1,800 per month, or $6,400 per month or $76,800 per year. WHAT REPAIRS ARE NEEDED IN EACH UNIT? Anticipated repairs are purely cosmetic such as, but not limited to, re-sanding hardwood floors, painting, new baseboards, shoes and trim work, updated bathroom and updated kitchen. WHAT ARE THE AGE OF THE MECHANICALS? Per the owner, the following items were replaced in 2010: windows, rubber roof and boiler. AFTER I REHAB IT, HOW MUCH IS THIS BUILDING WORTH? The estimated as-repaired value is conservatively between $750,000 to $800,000 depending on rehab quality. Please consult your agent for comparable sales data. HOW ARE THE UTILITIES DISTRIBUTED? ELECTRICITY: The first, second and third floor each pay their own electricity. The owner pays electricity for the common areas. In 2021, the owner paid $302 for electricity usage in the past 12 months or $25 per month. GAS: The owner pays for the entire building's gas service. In 2021, that gas bill came out to $3,682 for the past 12 months or $307 per month. The first, second and third floor owner's pay for their own cooking (stove) gas, which is inexpensive; for instance, the second floor is owner-occupied and, in 2021, the owner's cooking gas bill was $279 for the past 12 months or $23 per month. WATER: The owner pays for the entire building's water, sewer and garbage usage. In 2021, the estimated water bill is $2,217 per year or $185 per month. This one is a winner for many reasons; namely, interest rates are low, rents are rising and real estate is a great hedge against inflation. NOTE: This is an as-is, where-is sale; inspections may be conducted for information purposes.
Exterior Features

Exterior Building Type Brick Exterior Features Storms/Screens Foundation Details Concrete Perimeter Garage Details Garage Door Opener(S)Transmitter(S) Garage Onsite Yes Garage Ownersite Owned Garage Type Detached Is Parking Included In Price Yes Lot Size Less Than .25 Acre Multi Family Type 3 Story Unit/S Parking Details Garage Roof Rubber Waterfront YN No

Interior Features

Basement Partially Finished Basement Details PartialWalkout Bedrooms Below Grade 0 Bedrooms Total 6 Full Baths In Building 3 Half Baths In Building 0 Heating Natural GasRadiator(S) Room Type Sun Room Rooms Total 18

Property Features

Age 91-100 Years Built Before1978 YN Yes Community Features ParkCurbsGatedSidewalksStreet LightsStreet Paved Corporate Limits Chicago General Information School Bus ServiceCommuter BusCommuter TrainInterstate Access Gross Income 31200 Insurance Expense 2400 Maintenance Expense 0 Mls Actual Status Active New Construction YN No Other Equipment Co Detectors Ownership Fee Simple Rebuilt YN No Sewer Public Sewer Special Listing Conditions None Tax Annual Amount 6176.66 Tax Year 2020 Total Numberof Unitsin Building 4 Total Rental Income 2600 Township Jefferson Type Two To Four Units Water Source Lake MichiganPublic Zoning Multi

Listing information © 2022 Midwest Real Estate Data LLC.
Listing provided courtesy of Peter Drossos Real Estate.


© 2022 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 2022-08-18T23:59:28.19 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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