Commercial > Multi-family / Apartments
Active
10/08/2024
List Price
$375,000
7938 Essex Ave
Chicago, IL 60617
- 6Beds
- 4Baths
- 3,435ft²Living Area
- 6,200ft²Lot Size
- -Pool
- -Car
- 1929Year Built
- 11DOM
- -Permit
7938 Essex Ave, Chicago, IL 60617 is a 6 bed, 4 bath, 3,435 ft² multi-family/apartments property built in 1929 on a 0.142 acre lot. This multi-family/apartments is currently for sale for $375,000, and it was last sold in 2022 for $312,000.
MLS Description
The listing agent's description. Original Listing
Rare value-add multifamily investor opportunity in South Chicago. Bank appraised ARV 660K! This 6-unit property features 6 - newly framed 3 bedroom, 1 bath units. Rough plumbing, electric, framing and HVAC work have all been completed, with approved permits. The property is ready for drywall and finishes. The building's HVAC system has been completely modernized with **new energy-efficient Mitsubishi heat pumps and condensers** which are already installed. Electric upgrades include: **new conduit** throughout, electric panels installed in each unit, electric service upgrade from 200Amp to 800 Amp. Plumbing upgrades include: **new copper supply lines** throughout the entire property, **new PVC waste line** from 3rd floor to city main line, and *new high efficiency electric water heaters* for each unit and common area. All of the heavy lifting is done. High quality permitted rough rehab has been completed and this property is ready for an experienced investor to complete the project. This property works as a fix and flip or buy and hold. Market rent for 3 bedrooms is 1630+/mo. Projected monthly revenue: 9780/mo. Projected GRSS annual rental income: 117,000/yr
Listing Agents
The listing agent for 7938 Essex Ave is Ashley Thomas.
AT
Ashley Thomas
eXp Realty, LLC
License: 475205740
Phone: (888) 574-9405
Current Ownership
Information about the current owner(s).
Taxes Billed
Taxes billed in 2021$4,596.75From latest Total Assessed Value20.11%Total Assessed Value$22,859=Land+
Assessed Value$6,200Additions
Assessed Value$16,659
In 2021, taxes billed for 7938 Essex Ave were $4,596.75, which is 20.11% from latest Total Assessed Value of $22,859.
Property History
7938 Essex Ave has undefined property events records (listings, deeds, permits, tax, foreclosure, loan).
Property Events
Environment
Environmental factors around 7938 Essex Ave
Hazard Risks
Tornado209Particulates123Wind114Hail110Air Pollution104Weather104Ozone101Nat'l Avg100Carb Mono100Lead59Earthquake45Hurricane12
12 hazards (Carbon Monoxide, Earthquake Risk, Hail Index, Tornado Index, Hurricane Index, Air Pollution Index, Ozone Index, Wind Index, Weather Risk, Lead Index, Particulate Matter, National Average) are above the national average around 7938 Essex Ave.
Walkability Index
12 /20
Most Walkable
20-18
Very Walkable
17-15
Somewhat Walkable
14-10
Car Dependent
9-0
7938 Essex Ave has a walkability score of 12 out of 20, which means that it is in a somewhat walkable area.
Temperature
Seasonal temperature sampled over multiple years
Winter
Average
Low
20°F
High
34°F
Summer
Average
Low
62°F
High
81°F
In the winter at 7938 Essex Ave, temperatures range from 19.87°F to 34.23°F with an average of 27.05°F. In the summer, the temperature ranges from 62.31°F to 81.37°F with and average of 71.84°F.
School Information
Public/private schools serving 7938 Essex Ave
Public Schools
Coles Elementary Language Academy
Grades: KG-8
0.64 mi
D
Chicago Vocational Career Academy High School
Grades: 9-11
1.00 mi
F
South Shore International College Prep High School
Grades: 12-12
0.85 mi
B-
* The school rating is based entirely on the test score performance of each school. It is based on a scale of A-F, A being best.
Nearby public schools serving 7938 Essex Ave have ratings undefined, undefined, and undefined.
Neighborhood
This property is located in South Chicago, Chicago, IL 60617.
Seasonal Housing units 60617
2%of housing is for seasonal rent.
Daytime Population for 60617
-20%of people during work hours.
Boundary map of South Chicago.
Crime Index for 60617
114
114
The crime index in 60617 is 114, which is 1.1 times higher than national average.
Market Trends
Historical market data near 7938 Essex Ave over selected time period.
Nearby Properties on Essex Ave
- 8229 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,732 square foot, 4 bedroom, 3.25 bathroom, 0.11 acre property. It was built in 1948 and has an estimate of $225,610 with a price per ft² of $130.
- 8233 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 2,067 square foot, 4 bedroom, 3.25 bathroom, 0.14 acre property. It was built in 1948 and has an estimate of $249,700 with a price per ft² of $121.
- 8618 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 2,260 square foot, 5 bedroom, 3 bathroom, 0.1 acre property.
- 8457 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,242 square foot, 3 bedroom, 1 bathroom, 0.1 acre property. It was built in 1917 and has an estimate of $200,467 with a price per ft² of $161.
- 8523 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,690 square foot, 4 bedroom, 2.25 bathroom, 0.13 acre property. It was built in 1934 and has an estimate of $276,000 with a price per ft² of $163.
- 9154 S Essex Ave # 1b, Chicago, IL 60617 (Blackthorn Hall Condominiums) is a 0.8 acre property. It was built in 1980 and has an estimate of $125,900.
- 8724 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,987 square foot, 5 bedroom, 2 bathroom, 0.09 acre property. It was built in 1924 and has an estimate of $215,000 with a price per ft² of $108.
- 8728 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 944 square foot, 3 bedroom, 2.25 bathroom, 0.08 acre property. It was built in 1973 and has an estimate of $180,750 with a price per ft² of $191.
- 8720 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,176 square foot, 3 bedroom, 2.25 bathroom, 0.09 acre property. It was built in 1919 and has an estimate of $146,983 with a price per ft² of $125.
- 8714 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,104 square foot, 3 bedroom, 1 bathroom, 0.09 acre property. It was built in 1919 and has an estimate of $141,608 with a price per ft² of $128.
- 8710 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,176 square foot, 3 bedroom, 1 bathroom, 0.09 acre property. It was built in 1919 and has an estimate of $144,598 with a price per ft² of $123.
- 7601 S Essex Ave #Apt 2, Chicago, IL 60649 (South Shore) is a 0.25 acre property. It was built in 1922 and has an estimate of $132,194.
- 7601 S Essex Ave, Chicago, IL 60649 (South Shore) is a 0.25 acre property. It was built in 1922 and has an estimate of $95,910.
- 7603 S Essex Ave #Apt 2, Chicago, IL 60649 (South Shore) is a 0.25 acre property. It was built in 1922 and has an estimate of $128,435.
- 7708 S Essex Ave #Apt 3s, Chicago, IL 60649 (South Shore) is a 0.16 acre property. It was built in 1927 and has an estimate of $90,290.
- 8349 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,158 square foot, 2 bedroom, 1 bathroom, 0.07 acre property. It was built in 1913 and has an estimate of $185,062 with a price per ft² of $160.
- 9045 S Essex Ave, Chicago, IL 60617 (Calumet Heights) is a 1,139 square foot, 3 bedroom, 1 bathroom, 0.09 acre property. It was built in 1953 and has an estimate of $142,378 with a price per ft² of $125.
- 8310 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,360 square foot, 3 bedroom, 2 bathroom, 0.09 acre property. It was built in 1948 and has an estimate of $246,924 with a price per ft² of $182.
- 8322 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 2,327 square foot, 5 bedroom, 3 bathroom, 0.08 acre property. It was built in 1926 and has an estimate of $222,166 with a price per ft² of $95.
- 8324 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,122 square foot, 3 bedroom, 1 bathroom, 0.08 acre property. It was built in 1920 and has an estimate of $210,187 with a price per ft² of $187.
- 8304 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,351 square foot, 3 bedroom, 2.25 bathroom, 0.09 acre property. It was built in 1948 and has an estimate of $240,434 with a price per ft² of $178.
- 7707 S Essex Ave, Chicago, IL 60649 (South Shore) is a 9,891 square foot, 12 bedroom, 6 bathroom, 0.16 acre property.
- 7603 S Essex Ave #Apt 1, Chicago, IL 60649 (South Shore) is a 0.25 acre property. It was built in 1922 and has an estimate of $160,524.
- 7601 S Essex Ave #Apt 3, Chicago, IL 60649 (South Shore) is a 0.25 acre property. It was built in 1922 and has an estimate of $132,194.
- 8025 S Essex Ave, Chicago, IL 60617 (South Chicago) is a 1,946 square foot, 4 bedroom, 2 bathroom, 0.07 acre property. It was built in 1952 and has an estimate of $131,627 with a price per ft² of $68.
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