Skip To Content

1858 S Springfield Avenue

Chicago, IL 60623
  • $1,399,999
  • STATUS: Active
  • ON SITE: 112 Days
  • MLS #: 11652553
UPDATED: 38 min ago
$1,399,999
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1925
County:

School Ratings & Info

Description

Great Profit Potential on this beautifully renovated Huge 13 unit VACANT apartment building located at 1858 - 60 S. Springfield Ave. & connected extra large gated side lot at 3900 W. 19th St. In an Opportunity Zone & just blocks from major public transportation! 1858 - 60 S. Springfield has been completely gutted and rehabbed with city permits, New Electric 800 AMP service & throughout building, New 2" Copper Plumbing service as well as new copper plumbing throughout building, HVAC, Windows, Flooring, Appliances,Roof etc. Including Wash/Dryer hookups Individual HW, Furnace, breaker panel in each unit!! High Quality kitchen/bathroom cabinets and fixtures. Enjoy low maintenance expenses, Building was rehabbed for maximum ROI by Experienced Developer! Get top rents with this desirable unit mix in the best part of North Lawndale. Lot of redevelopment in the area. Property is fully vacant & brand new!. Pro forma income produces a 12.%+ (potential) at listing price. Side lot can be used as income or as a development opportunity or sold separately. North Lawndale is conveniently located approximately 7 miles from the center of downtown Chicago, 3 miles south of the Eisenhower Expressway (I-290). 3 miles north of the Stevenson Expressway (I-55). This property is located in the heart of North Lawndale, just 2 miles from Douglas Park (home to the renowned Riot Fest music festival), 0.3 miles from Pulaski Pink line & 1 block from Ogden Corridor.

Monthly Payment Calculator



© 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 Keller Williams Success Realty. Based on information submitted to the MRED as of 2023-02-04T07:04:51.85 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
www.lewkepartners.com/homes/133949336
Print Image

1858 S Springfield Avenue Chicago, IL 60623

  • Price: $1,399,999
  • Status: Active
  • On Site: 112 Days
  • Updated: 38 min ago
  • MLS #: 11652553
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1925
Built
Neighborhood:
Chi - North Lawndale
County:
Cook
Area:
Chi - North Lawndale
Property Description
Great Profit Potential on this beautifully renovated Huge 13 unit VACANT apartment building located at 1858 - 60 S. Springfield Ave. & connected extra large gated side lot at 3900 W. 19th St. In an Opportunity Zone & just blocks from major public transportation! 1858 - 60 S. Springfield has been completely gutted and rehabbed with city permits, New Electric 800 AMP service & throughout building, New 2" Copper Plumbing service as well as new copper plumbing throughout building, HVAC, Windows, Flooring, Appliances,Roof etc. Including Wash/Dryer hookups Individual HW, Furnace, breaker panel in each unit!! High Quality kitchen/bathroom cabinets and fixtures. Enjoy low maintenance expenses, Building was rehabbed for maximum ROI by Experienced Developer! Get top rents with this desirable unit mix in the best part of North Lawndale. Lot of redevelopment in the area. Property is fully vacant & brand new!. Pro forma income produces a 12.%+ (potential) at listing price. Side lot can be used as income or as a development opportunity or sold separately. North Lawndale is conveniently located approximately 7 miles from the center of downtown Chicago, 3 miles south of the Eisenhower Expressway (I-290). 3 miles north of the Stevenson Expressway (I-55). This property is located in the heart of North Lawndale, just 2 miles from Douglas Park (home to the renowned Riot Fest music festival), 0.3 miles from Pulaski Pink line & 1 block from Ogden Corridor.
Exterior Features

Exterior Building Type BrickMasonite Foundation Details BlockConcrete PerimeterPillar/Post/Pier Frontage Type City StreetAlley Access Land Amenities Children's Play YardCurbs And GuttersSidewalks Outdoor Parking 13-18 Spaces Parking Total 13 Roof Tar And Gravel Roof Structure Flat

Interior Features

Basement FinishedPartially FinishedWalk-Up Access Cooling None Fireplaces Total 0 Heat Ventilation Forced AirGasSeparate Per UnitIndividual Furnaces Miscellaneous Inside Inside Corridor/SStorage InsideWorkshop Area (Interior) Number Of Dishwashers 0 Number Of Dryers 0 Number Of Ranges 13 Number Of Washers 0

Property Features

Additional Parcels YN Yes Approximate Age New Rehab Association Fee Includes None Building Area Total 12500 Built Before1978 YN Yes Current Use Multi-Family Electric Separate MetersOver 600 Amps Fire Protection Alarm On SiteSmoke Or Fire ProtectorsCarbon Monoxide Detector(S) Gross Income 224100 Gross Scheduled Income 224100 Insurance Expense 11000 Location CornerPublic Transport AvailIn City Limits Maintenance Expense 1000 Mls Actual Status Active Net Operating Income 173955 Operating Expense 2500 Ownership Types Limited Liability Corp Possible Use Multi-Family Tax Annual Amount 14161.7 Tax Year 2020 Tenant Pays ElectricityHeatHot Water Total Monthly Income 18675 Township West Chicago Type Multi Family 5+ Zoning Multi

Listing information © 2023 Midwest Real Estate Data LLC.
Listing provided courtesy of Coldwell Banker Realty: 630-954-4600.


© 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 Keller Williams Success Realty. Based on information submitted to the MRED as of 2023-02-04T07:04:51.85 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
 
https://bt-photos.global.ssl.fastly.net/mred/1280_boomver_1_11652553-1.jpg https://bt-photos.global.ssl.fastly.net/mred/1280_boomver_1_11652553-1.jpg https://bt-photos.global.ssl.fastly.net/mred/1280_boomver_1_11652553-1.jpg
Logo
Keller Williams Success Realty
43 E Crystal Lake Ave
Crystal Lake IL, 60014