6710 N Northwest Highway $1,990,000

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    6710 N Northwest Highway Chicago-Edison Park, IL 60631

    • Commercial
    • MLS# 11443461
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    Views: 13 Days On Site: 162

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    Property Details

    The building comprises four (4) three-bedroom / two-bathroom apartments with two ground-level commercial spaces. The entire property was completely renovated in 2020, which included the replacement of plumbing, electrical, building mechanicals, windows, roof, steel rear porches, and more. The apartments feature high-end finishes, including luxury kitchen cabinetry, quartz countertops, and stainless steel appliances. Hardwood flooring can be found throughout the units with tastefully exposed brick accent walls, in-unit laundry, individual HVAC systems, and hot water tanks. The property also offers four (4) garage parking spaces for the residential tenants, and there is additional uncovered parking for the commercial. The property is located within the best pocket of Edison Park, providing convenient access to the Edison Park Metra Station (1 blk. away) and neighborhood attractions which include restaurants, bars, and retailers. The property presents an investor with the opportunity to acquire a stabilized turnkey investment with long-term rental upside. The apartment rents are currently well below the market rate, with a waiting list of new tenants.

    • General Features
      • Additional Parcels Y/N No
      • Area CHI - Edison Park
      • County Or Parish Cook
      • Electric Expense 450
      • Fuel Expense 500
      • Gross Income 176400
      • Gross Scheduled Income 176400
      • Net Operating Income 124441
      • Number Of Units Total 6
      • Operating Expense 43139
      • Operating Expense1 0
      • Property Sub Type Apts/Stores
      • Tax Annual Amount 20369
      • Tax Year 2020
      • Township Jefferson
      • Year Built 1910
      • Zoning OTHER
    • Building Features
      • Construction Materials Brick
      • Cooling Central Air
      • Electric Circuit Breakers
      • Stories 3
    • Property Features
      • Lot Size Dimensions 50X125
      • Lot Size Square Feet 6250
      • Parcel Number 09363040110000
      • Parking Total 5

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    Neighborhood

    60631 (Chicago-Edison Park) Demographics

    42 Median Age
    7,756 Population Density (per sq. mile)
    52% College Educated
    $102,936 Estimated Median Income
    8,751 Estimated Total Home Owners
    2,881 Estimated Total Renters
    75% / 25% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    28,864 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $400,000 Median Sales Price
    17 Homes Sold
    37 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $1,990,000
        8/25/2022 12:17:50 AM Status Changed Source: Multiple Listing Service New Value: Active
        8/19/2022 10:47:23 AM Price Reduced Source: Multiple Listing Service New Value: $1,990,000 -11.56%
        8/19/2022 10:47:23 AM Status Changed Source: Multiple Listing Service New Value: Price Change
        6/28/2022 12:18:03 AM Status Changed Source: Multiple Listing Service New Value: Active
        6/22/2022 4:18:00 PM New in Database Source: Multiple Listing Service New Value: $2,250,000

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.