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16035 Laramie Avenue

Oak Forest, IL 60452
  • $650,000
  • STATUS: Active Under Contract
  • ON SITE: 40 Days
  • MLS #: 11716964
Under Contract
$650,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1977
County:
Area:

School Ratings & Info

Description

Gorgeous, well-constructed 6-unit brick building in beautiful Oak Forest. The property goes a step beyond the basic cookie-cutter brick building with well thought out architectural elements on the exterior, a large lot with plenty of parking in the rear, and adjacent to a scenic wooded creek. The building itself features (4) 2-bedrooms, (2) 1-beds and brings in a healthy $72,000 in gross income per year. Value add opportunities are abundant with room to raise rents to market-rate, which would increase total gross income to approximately $88,000. A savvy investor could also convert the currently empty, unused basement into a 7th unit. Tenants pay for electric. This is a rarely available opportunity in a fantastic neighborhood.

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© 2023 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 John Lyons Real Estate | Baird & Warner. Based on information submitted to the MRED as of 2023-03-22T23:58:19.093 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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16035 Laramie Avenue Oak Forest, IL 60452

  • Price: $650,000
  • Status: Active Under Contract
  • On Site: 40 Days
  • MLS #: 11716964
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1977
Built
Neighborhood:
Oak Forest
County:
Cook
Area:
Oak Forest
Property Description
Gorgeous, well-constructed 6-unit brick building in beautiful Oak Forest. The property goes a step beyond the basic cookie-cutter brick building with well thought out architectural elements on the exterior, a large lot with plenty of parking in the rear, and adjacent to a scenic wooded creek. The building itself features (4) 2-bedrooms, (2) 1-beds and brings in a healthy $72,000 in gross income per year. Value add opportunities are abundant with room to raise rents to market-rate, which would increase total gross income to approximately $88,000. A savvy investor could also convert the currently empty, unused basement into a 7th unit. Tenants pay for electric. This is a rarely available opportunity in a fantastic neighborhood.
Exterior Features

Outdoor Parking 6-12 Spaces Parking Total 12

Interior Features

Heat Ventilation Radiant

Property Features

Additional Parcels YN No Approximate Age 36-50 Years Built Before1978 YN Yes Contingency Financing Continue To Show Yes Gross Income 72000 Gross Scheduled Income 72000 Insurance Expense 3600 Maintenance Expense 3600 Mls Actual Status Contingent Net Operating Income 30033 Operating Expense 41967 Tax Annual Amount 22537 Tax Year 2021 Tenant Pays Electricity Total Monthly Income 6000 Type Multi Family 5+ Zoning Multi

Listing information © 2023 Midwest Real Estate Data LLC.
Listing provided courtesy of Chase Real Estate Llc: 847-744-5003.


© 2023 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 John Lyons Real Estate | Baird & Warner. Based on information submitted to the MRED as of 2023-03-22T23:58:19.093 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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