Address
6109 W Higgins Avenue Chicago, IL
Price
$ 350,000
Property Attributes
  • MLS#11045649
  • TypeContingent
  • CountyCOOK
  • CityChicago
  • AreaCHI - Jefferson Park
  • NeighborhoodJefferson Park
  • Zip60630
  • Style
  • Year Built1935
  • Taxes$ 3558
  • Price$ 350,000
  • Bedrooms3
  • Full Bathrooms2
  • Half Bathrooms0
  • Sqr Footage1600
  • Lot Size3,485 SqFt
Listing Provided Courtesy Of:
Peter Drossos Real Estate
Data Source:
Midwest Real Estate Data LLC
Property Description

WE ARE IN A MULTIPLE OFFER SITUATION. ALL HIGHEST-AND-BEST OFFERS ARE DUE BY 8 PM ON MAY 4, 2021. Finally, a multi-unit unit building that makes sense! There are two options here. First, house hack, which means live in one unit and rent out the other units. If you house hack then you will almost live for free or you will make money every month depending on the situation. Second, keep it as a pure investment play. The first floor, rear apartment features one bedroom and it is already rented for $1,000 per month through March 31, 2022. The second floor apartment features two bedrooms, a formal living room, a dining room and a rear bonus room, which can also be used as a third bedroom. The second floor unit is presently rented for $1,500 per month through November 30, 2022. These two apartments already bring in $2,500 per month in rental income. Like clockwork. There is also a third unit in the building, which is a studio apartment, but we do not represent the legality of this third unit. FHA/VA, conventional and cash buyers are welcome! Go with FHA financing for an approximate mortgage payment of $1,978 per month based on a selling price of $350,000 with a 3.5% down payment (or $12,250) at a 2.5% interest rate as well as a $3,558 annual property tax bill, a $100 per month insurance premium and a $247 per month mortgage insurance payment. Or, go with conventional financing for an approximate mortgage payment of $1,682 per month based on a selling price of $350,000 with a 15% down payment (or $52,500) at a 3% interest rate as well as a $3,558 annual property tax bill, a $100 per month insurance premium and a $32 per month mortgage insurance payment. Please discuss financing options with your loan officer. On a final note, this property does not have a garage but there is ample street parking; there is also no basement and, hence, no flooding issues. This is an excellent investment opportunity in an excellent area! Very low taxes even without a homeowner's exemption! A must see. A 10!

Price History
4/7/2021 Listed $350,000

General Features

Basement None
Community Features Park, Tennis Court(s), Curbs, Sidewalks, Street Lights, Street Paved
Contingency Attorney/Inspection
Elementary School District 299
Exterior Features Deck
Heating Steam, Baseboard, Radiant
High School District 299
Middle/Junior School District 299
New Construction No
Ownership Fee Simple
Property Type Residential Income
Property Type Two to Four Units
Roof Flat
Sewer Public Sewer
Standard Status Active Under Contract
Tax Annual Amount 3558.2
Total Rooms 7
Township Jefferson
Zoning MULTI

Interior Features

Basement None
Bedroomspossible 3
Full Baths Building 2
Full Baths Unit 1 1
Full Baths Unit 2 1
Total Baths 2
Total Bedrooms 3

Exterior Features

Exterior Brick
Foundation Details Concrete Perimeter
Lot Dimensions 25 X 150
Lot Size Acres 0.08
Water Source Lake Michigan
Waterfront Y/N No

Room Details

Room Dimensions Level Flooring Details
Dining Room
Family Room
Living Room
Master Bedroom

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 60630

Price
AVG $380K
$350K
Taxes
AVG $4,831
$3,558
Visits
AVG 69
66
Year Built
AVG 1948
1935
Walkscore
AVG 75
63
Data Provided by Walkscore ® not using MLS data

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