Residential Income for Sale: 1408 W Belmont, Chicago, IL 60657 SOLD
6 beds
$1,490,000
$1,490,000
1408 W Belmont,
Chicago, IL 60657 SOLD
6 beds
$1,490,000
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Selling Price: $1,490,000
Original List Price: $1,590,000
Sold at 93.7% of list price
Sold Date: 08/16/2024
Type Residential Income
Beds 6
Year Built 2000
City Chicago
County Cook
School District 299
MLS 11986116
Status Closed
Investment opportunity in highly desirable Southport Corridor - three residential condo units (Units 2, 3, and 4) comprising 100% ownership of the HOA and common elements at 1408 W Belmont. $112k annual / $9.5k monthly rental income. Fully leased - Unit 2 is month-to month, Units 3 and 4 occupied thru March 2025. Excellent tenants pay on time. Rear half of lot (approx. 25x50ft) used as parking - eligible for ADU, may be redeveloped to extend current building footprint, add garage and/or additional unit(s). Unit 1 ground floor commercial is separately owned and not included in sale / sold separately. Prime location near corner of Belmont & Southport. Street recently repaved and sidewalk widened - easy access to L stations, two blocks to Whole Foods, bus stop in front of property. Penthouse Unit 4 renovated 2018 with high-end kitchen. All units have newer mechanicals, in-unit W/D, rear decks. Seller is a licensed IL real estate broker.
Room Features
Basement Description None
Lot & Building Features
Heating Natural Gas
Parking Description Space/s
Sewer Public Sewer
Tax Year 2022
Water Lake Michigan, Public
Lot Dimensions 25X125 ft
Price History of 1408 Belmont, Chicago, IL
Date | Name | Price | Difference |
---|---|---|---|
12/31/1969 | Listing Price | $1,490,000 | N/A |
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed. |
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