- List Price $500,000
- Price / Unit $125,000
- Property Type Two – Four Unit
- Units 4
- Current Rents $61,440
- Pro Forma Rents $72,000
- In Place NOI $37,047
- Projected NOI $47,078
- Target CAP Rate 7.16%
- Market CAP Rate –
- Today's Market Value $551,000
- Value w/Market Rents $550,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
- 8
- 4
- 3750
- 1918
- 100%
- 2
- 2
- Forced Air
- Central Air
- Common, Paid
8
4
3750
- 1918
- 100%
- 8
- 2
- Forced Air
- Forced Air
- Common, Paid
About the property
Welcome to 7601 60th Place! Located in the culturally rich village of Summit, IL, this Multi-Unit gem comprises of 4 Spacious aparments consisting of All 2-bedroom/1-bathroom units that are all tastefully updated & well maintained. All units are lined with Luxury Vinyl Plank flooring with updated kitchens lined with ceramic tile and oak cabinets. All units have separate HVAC for heating & cooling along with separate Gas & Electric meters, which makes this building Very Cash Flow efficient. Regarding the exterior, the Roof is in great shape having been installed 5 years ago. All windows were fully replaced less than 5 years ago. This property also boasts a 2-car garage and a car port! The site does have public laundry in the basement. This listing presents a rare opportunity to invest in a well maintained building in the heart of Summit, IL.
About the neighbourhood
- Summit, Illinois, is a vibrant village located in Cook County, just southwest of downtown Chicago. Nestled along the banks of the Chicago Sanitary and Ship Canal, Summit offers a unique blend of suburban charm and industrial heritage. Its strategic location provides easy access to major highways like I-55, making it a convenient spot for commuters heading into the city. The village's downtown area is a hub of activity, with local businesses, restaurants, and shops adding to its small-town charm. Educational opportunities are supported by nearby schools and libraries, enhancing the family-friendly atmosphere.Summit's proximity to Chicago provides residents with easy access to the city's cultural, dining, and entertainment options, while the village itself maintains a distinct, welcoming character. Overall, Summit offers a balanced lifestyle with the convenience of urban access and the tranquility of suburban living.
Municipality - Investor Guide
Summit
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: N/A | Cost: - | Required: Yes | Required: Yes |
| Seller: N/A | Cost: - | Cost: $50.00 | Cost: Varies |
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
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Walkscore
Nearby
- Arts & Entertainment
-
Artfinix Studios (0.23 mi)
-
Argo Community High School (0.32 mi)
-
Exodus Ink (0.35 mi)
- Education
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Schools Public (0.12 mi)
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St Blase Polish Catholic School (0.15 mi)
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Argo Community High School (0.32 mi)
- Food
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Rosita Grocery (0.12 mi)
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Thornton's Quick Cafe & Market (0.27 mi)
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Thorntons (0.26 mi)
- Health & Medical
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Rzucidlo Jozef MD (0.31 mi)
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Access Des Plaines Valley Health Center (0.31 mi)
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My Twist (0.34 mi)
Contact Information
- List Price $500,000
- Property Type Two – Four Unit
- Current Rents $61,440
- In Place NOI $37,047
- Target CAP Rate 7.16%
- Today's Market Value $551,000
- Price / Unit $125,000
- Units 4
- Pro Forma Rents $72,000
- Projected NOI $47,078
- Market CAP Rate –
- Value w/Market Rents $550,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
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Based on Citypoint’s communication with the seller, the price point listed is a price that the seller should be willing to transact at. Any terms for, or against, the seller can help/hurt this price level.
Many sellers have loan balances that need to be paid off at closing. If the seller’s net proceeds after commissions, taxes, closing fees, rent credits, security deposit credits, etc fall below their current loan balance the price will most likely be denied by the seller.
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