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5861 N Magnolia Avenue

Chicago, IL 60660
  • $995,000
  • STATUS: Active Under Contract
  • ON SITE: 23 Days
  • MLS #: 11391343
Under Contract
UPDATED: 23 min ago
$995,000
  • 9
    BEDS
  • 0.09
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1914
County:

School Ratings & Info

School District:
299

Description

5861 N. Magnolia Ave. is a traditional Chicago three-flat located in the desirable Magnolia Glen neighborhood within Chicago's Edgewater community. The building is comprised of two (2) three bedroom/1.5 bath and one (1) three bedroom/one bath. The first-floor unit is a duplex down, though the lower level is currently sealed off and being used as storage. Each apartment features decorative fireplaces, hardwood floors throughout, spacious bedrooms with generous closet space, a formal dining room, updated kitchen with white appliances and wood cabinetry. In addition, the building provides free laundry in the basement. Building mechanicals include a Peerless boiler (2012), 72 gallon hot water tank (2012), copper plumbing, a recently resurfaced roof (2020). The property also includes three surface parking spaces in the rear. Presently, the first floor apartment is operating as a fully furnished, corporate short term rental. A new owner has the opportunity to leverage this strategy or convert the unit back to annual lease for ease of management. Additionally, investors may seek to reopen the duplex down in the first-floor unit and basement space at 5861 N. Magnolia Ave. to create a 4Bd/2Ba apartment or owner's unit. ***NOTE: This property can be purchased along with the property next door, 5865 N. Magnolia (#11327486)

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© 2022 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 RE/MAX IMPACT. Based on information submitted to the MRED as of 2022-05-26T22:59:39.993 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.

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5861 N Magnolia Avenue Chicago, IL 60660

  • Price: $995,000
  • Status: Active Under Contract
  • On Site: 23 Days
  • Updated: 23 min ago
  • MLS #: 11391343
9
Beds
0
Baths
0
½ Baths
0.09
Acres
1914
Built
Neighborhood:
Chi - Edgewater
County:
Cook
Area:
Chi - Edgewater
School District:
299
Property Description
5861 N. Magnolia Ave. is a traditional Chicago three-flat located in the desirable Magnolia Glen neighborhood within Chicago's Edgewater community. The building is comprised of two (2) three bedroom/1.5 bath and one (1) three bedroom/one bath. The first-floor unit is a duplex down, though the lower level is currently sealed off and being used as storage. Each apartment features decorative fireplaces, hardwood floors throughout, spacious bedrooms with generous closet space, a formal dining room, updated kitchen with white appliances and wood cabinetry. In addition, the building provides free laundry in the basement. Building mechanicals include a Peerless boiler (2012), 72 gallon hot water tank (2012), copper plumbing, a recently resurfaced roof (2020). The property also includes three surface parking spaces in the rear. Presently, the first floor apartment is operating as a fully furnished, corporate short term rental. A new owner has the opportunity to leverage this strategy or convert the unit back to annual lease for ease of management. Additionally, investors may seek to reopen the duplex down in the first-floor unit and basement space at 5861 N. Magnolia Ave. to create a 4Bd/2Ba apartment or owner's unit. ***NOTE: This property can be purchased along with the property next door, 5865 N. Magnolia (#11327486)
Exterior Features

Exterior Building Type Brick Foundation Details Concrete Perimeter Is Parking Included In Price Yes Lot Size Oversized Chicago Lot Multi Family Type 3 Flat Parking Details Space/S Parking Features Off Alley Parking Onsite Yes Parking Ownership Owned Parking Total 3 Roof Flat Waterfront YN No

Interior Features

Basement FinishedOther Basement Details Partial Bedrooms Below Grade 0 Bedrooms Total 9 Full Baths In Building 4 Half Baths In Building 2 Heating Natural GasRadiator(S) Rooms Total 22

Property Features

Age 100+ Years Built Before1978 YN Yes Community Features SidewalksStreet LightsStreet Paved Contingency Attorney/Inspection Continue To Show No - Has Seller Written Direction Corporate Limits Chicago General Information Commuter BusCommuter TrainInterstate Access Gross Income 91200 Insurance Expense 2298 Maintenance Expense 1350 Mls Actual Status Contingent Net Operating Income 53879 New Construction YN No Other Equipment Ceiling Fan(S) Ownership Fee Simple Rebuilt YN No Sewer Public Sewer Special Listing Conditions List Broker Must Accompany Tax Annual Amount 13822 Tax Year 2020 Total Numberof Unitsin Building 3 Township North Chicago Type Two To Four Units Water Source Lake Michigan Zoning Multi

Listing information © 2022 Midwest Real Estate Data LLC.
Listing provided courtesy of Keller Williams Onechicago.


© 2022 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 RE/MAX IMPACT. Based on information submitted to the MRED as of 2022-05-26T22:59:39.993 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
 
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