7646 S Colfax Avenue $540,000


    7646 S Colfax Avenue Chicago-South Shore, IL 60649

    • Commercial
    • MLS# 11608969
    Favorite Share
    Views: 35 Days On Site: 41

    Go Tour This Listing

    Schedule A Showing

    Property Details

    Description Tours Videos

    This is a GREAT Investment in a GREAT location! So many changes coming to the area don't miss out on owning a solid property! This building has been owned by the same person for over 30 years and has been kept in good condition. The apartments have nice size bedrooms and spacious living rooms and dining rooms. The total square footage for each apartment is about 1200. There are newer windows and all the lintels were replaced on the front of the building; which also has been tuckpointed. The roof is 9 years old and a new boiler and a hot water tank have all been replaced in the last 5 years. The owner is in the process of revamping two vacancies for rental. The hallway and entrance to the building are being painted. The property has two nice basements and a four-car brick garage. With the Obama center coming and the close proximity to Lake Michigan and easy access to Downtown, this is an area not to be missed for the savvy investor!! Current rents are below the market rate for the area... I see the future and this is an ideal property for condo conversion. SHOW AND SELL! THIS IS THE ONE!

    • General Features
      • Additional Parcels Y/N No
      • Area CHI - South Shore
      • County Or Parish Cook
      • Electric Expense 428
      • Fuel Expense 0
      • Gross Income 57600
      • Gross Scheduled Income 57600
      • Net Operating Income 40051
      • Number Of Units Total 6
      • Operating Expense 17549
      • Operating Expense1 8200
      • Tax Annual Amount 4321
      • Tax Year 2020
      • Year Built 1923
      • Zoning MULTI
    • Building Features
      • Stories 3
    • Property Features
      • Lot Size Dimensions 6200
      • Parcel Number 21303100190000
      • Parking Total 4


    Shari Smith

    Shari Smith

    Sales Associate, Commercial Real Estate Specialist

    Chicago - Michigan Avenue

    Primary: 312-451-7490


    60649 (Chicago-South Shore) Demographics

    38 Median Age
    11,999 Population Density (per sq. mile)
    35% College Educated
    $36,130 Estimated Median Income
    5,387 Estimated Total Home Owners
    16,947 Estimated Total Renters
    24% / 76% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    47,084 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $94,170 Median Sales Price
    25 Homes Sold
    41 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: $540,000
        8/31/2022 7:17:19 AM Status Changed Source: Multiple Listing Service New Value: Contingent
        8/25/2022 12:17:50 AM Status Changed Source: Multiple Listing Service New Value: Active
        8/19/2022 1:18:00 PM New in Database Source: Multiple Listing Service New Value: $540,000

        Payment Calculator

        $0 per month
        Year Fixed, Interest
        Principal and Interest
        Property Taxes
        Homeowners' Insurance

        Home Price
        Down Payment
        * This payment calculator is intended for educational and planning purposes only.
        ** Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real estate listings held by brokerage firms other than Berkshire Hathaway HomeServices Chicago are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. © 2022 Midwest Real Estate Data LLC. All rights reserved. Information Deemed Reliable but Not Guaranteed. Listing information from this property search 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. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing. Based on information submitted to the MRED as of 9/29/2022 7:50:53 AM. 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.
        The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@theMLSGRID.com.
        The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

        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.