7446 S Luella Avenue, Chicago, Illinois 60649
- $700,000
- 9
- BD
- 6
- BA
- Sold Price
- $700,000
- List Price
- $729,900
- Closing Date
- Nov 01, 2024
- MLS#
- 12144874
- Status
- CLOSED
- Type
- Multifamily
- Subtype
- Residential Income
- Bedrooms
- 9
- Bathrooms
- 6
- County
- Cook
- City
- Chicago
- Neighborhood
- South Shore
- Days On Market
- 57
Property Description
No expense has been spared in this completely rebuilt multi unit in 74th block of South Shore. Brought down to the studs and most studs replaced. Literally to much to list that is new. I'm pretty sure the only thing that is original are the stairs and the brick. This property is ready for any FHA OR VA financing. FHA will go up to 770,000 on a 3 unit building. FHA will also count 75% of the rentable income in the building. These units will rent for 2200 each. If you live in one and rent 2 that is an additional 3,300 a month of income ( 4400 x 75% = 3300 or 40,000 a year). Put down 20% and you live in a brand new building almost for free. 7446 Luella is not your typical flip. Cornerstone Construction rebuilt this 2 unit, 3 bed 1.5 bath into a 3 UNIT, 3 BED 2 BATH IN UNIT LAUNDRY, CENTRAL A/C, 2000 square foot home for each unit. Stainless steel appliances quartz countertops, hardwood floors , recessed lighting. Newer electrical, updated plumbing and hvac, roof, drywall, lighting, floors.... everything. If you are an investor that is looking for a turn key property that you wont have to worry about for a long time this is it. put 20% down, and this thing prints cash. If you are a first time home buyer, this is a great option for you, everything is done, up to you, put the minimum down and pay very little or put 20% down and pay almost nothing, with your tenants paying your mortgage. Like anywhere in Chicago you can go from one street to the next and one can be a great street and the next, keep driving. The owner grew up in this area of Chicago and knows that this area is where you want to live and raise a family. The neighbors are great too. ****NATIONWIDE, NEW RULES AS OF AUGUST 17TH, IF YOU ARE A RENTER OR A BUYER, YOU MUST, SIGN SOME SORT OF BUYER AGENCY AGREEMENT DOCUMENT TO ENTER THE BUILDING. YOU CAN HAVE REPRESENTAION WITH A REALTOR OR REPRESENT YOURSELF, STILL NEED TO SIGN THE PAPER. NOT NEGOTIABLE. ******
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Additional Information
- School District
- 299
- Corporate Limits
- Chicago
- Tax Year
- 2022
- Tax Amount
- $3,821
- Year Built
- 1928
- Lot Dimensions
- 25X125
- Lot Size Range
- Less Than .25 Acre
- Units
- 3
- Garage Spaces
- 2
- Parking Spaces
- 2
- Parking Details
- On Site, Garage Owned, Detached, Garage
- Heating
- Natural Gas
- Sewer
- Public Sewer
- Basement
- Yes
Mortgage Calculator
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Selling Office: Baird & Warner Fox Valley - Geneva.
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