Active

7014 S Kimbark Avenue

Chicago, Illinois 60637


Brittany Bussell
312.898.3269

Request More Info

$250,000


Bedrooms
9

Bathrooms
4



Property Type
Multiple Unit (2-4)
Community Area
Greater Grand Crossing


7014 S. Kimbark is comprised of three (3) 2bd/1ba units and one (1) 3Bd/1Ba unit. All units were renovated in 2012 with updated kitchens, baths, and individual HVAC. Recent improvements to the building include, but are not limited to, new roof, new porch, copper plumbing, and a new electrical service. During Kimbark's extensive gut rehab in 2012, over $360,000 was spent on the building, units, and capital expenditure items (see page 7 for a detailed breakdown). Currently, 7014 S. Kimbark is an income restricted building based off of Chicago Area Median Income (AMI). All four (4) units are required to be occupied by tenants with an income of no more than 120% of the AMI. All HUD regulations and restrictions will terminate on April 6th, 2027. Currently, tenants portion cannot exceed $1.205 for two bedroom (2bd) units. Additionally, tenants portion cannot exceed $1,563 for the three bedroom (3bd) unit. However, should a subsidized tenant (i.e. CHA) occupy a unit, the total rent paid to the owner is uncapped as long as the tenant portion does not exceed the restricted levels. 7014 S. Kimbark presents an investor the opportunity to acquire a cash flowing asset with an in place cap rate over 9.3%. By holding Kimbark until HUD's regulatory agreement expires, Kimbark's next owner has the potential to achieve a cap rate of 11.77% and a cash return of nearly 31%.



Full Features
Exterior Type: Brick
Basement: Unfinished
Beds Above Grade: 9
Heating System: Forced Air
Pool: No
Age: 100+ Years
Parking Type: Space/s
Parking Spaces: 2
Room Count: 13
Water Front: No
Square Feet: N/A
Tax Amount: $4,468
Tax Year: 2019


Taxes & Assessments
Taxes: $4,468

Listing information updated 4/29/2021 at 12:24am


Listing Office: Kiser Group Realty Inc

broker reciprocity

Disclaimer: The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of Midwest Real Estate Data, LLC. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers.


Greater Grand Crossing

Neighborhoods: Hamilton Park, Park Manor, Parkway Gardens

Greater Grand Crossing is part of the Chicago South Side. Situated just south of Chicago's Loop, Chicago South has experienced rapid development in recent years, particularly in the South Loop neighborhood. Chicago South offers a wide range of housing styles,…

Learn More

School District(s)
City Of Chicago SD 299
Elementary School
Revere Elementary School
Middle School
Revere Elementary School
High School
Hyde Park Academy High School

School information is provided by the National Center for Education Statistics. This information should only be used as a reference and does not warrant or guarantee enrollment. Please contact applicable schools or school districts directly to verify information and enrollment eligibility.

View More Area Schools


Nearby Public Transportation

Metra
Metra Electric South Chicago Branch, Metra Electric Main Branch, South Shore

at 67th St Metra (0.08 miles away), Grand Crossing Metra, 63rd Street



 





7014 S Kimbark Avenue Chicago, Illinois 60637 is a multiple unit (2-4) currently listed at $250,000. 7014 S Kimbark Avenue features 9 bedroom(s) and 4 bath(s). This multiple unit (2-4) has been listed on @properties since April 22nd, 2021 and was built in 1913. Nearby schools include Revere Elementary School, Hyde Park Academy High School. The nearest transit stops include Metra Electric South Chicago Branch 67th St Metra. Want to learn more about 7014 S Kimbark Avenue Chicago, Illinois 60637? Contact an @properties agent to request more info.


© 2021 Midwest Real Estate Data, LLC. All Rights Reserved. The accuracy of all information regardless of source including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.