Closed

$700,000

Favorite

3,445

square ft

516 S Michigan Court

Addison, Illinois 60101

Closed / MLS #11950895 / Multiple Family / Addison

Listing information updated 2/28/2024 at 7:23pm

HIGHEST AND BEST IS 5:30 PM January 11, 2024. ALL SHOWING WILL START PROMPLY AT 2PM AND END AT 3PM JANUARY 10TH. WE HAVE A LARGE AMOUNT OF PEOPLE ATTENDING. Great DuPage County Building with no association. Building has (3) 2 bedrooms and (2) 2 bedrooms. Unit number 1 is a much larger unit with 1.1 bathrooms and approximately 1400SF with a tenant that has occupied for over 30+ years and helps with interior and exterior maintenance. Unit #5 has been completely updated in April 2023. Unit 3 lease expires April 2024 and could get more for rent if buyer wishes. New roof and gutters and downspouts installed 2022, new windows throughout building in October 2023. Brick tuck-pointing in great condition. HWT less than 7-years old. Coined washer and dryer, for extra income, is less then 4 years old. Boiler is aged but is still working great and has been certified by our HVAC contractor. Main boiler pump just was replaced September 2023 along with (1) other pump. All other units are in good clean condition with most having hardwood flooring. Building is well maintained inside and out. Sellers hate to sell but due to unforeseen issues with the sellers, our loss is your gain. Tenants pay electric with separate meters and breaker panels in each unit. Each unit has (2) assigned parking places which have been freshly striped in July 2023. Property is located within a cul de sac, quiet area and building backs up to Fullerton Elementary School. Sellers received a 2-year waiver from The Village of Addison for their yearly inspection due to the great condition and upkeep of this building. Sellers are currently accepting offers. However, we are requesting all interesting buyers to submit offers to email address in agents remarks section. Only drive-by inspection for now. DO NOT, I REPEAT, DO NOT ATTEMP TO BOTHER TENANTS. THEY ARE NOT AWARE AS OF YET THE BUILDING IS BEING SOLD. WE ARE TRYING TO CORDINATE WITH TENTANTS FOR ALL SHOWINGS OF ENTIRE BUILD AND UNITS BETWEEN 2-3 PM ON JANUARY 10, 2024, AT WHICH TIME WILL ASK FOR HIGHEST AND BEST OFFERS. BUILDING WILL BE A GREAT INVESTMENT WITH A NICE NET ANNUAL INCOME. WATER BILL CONTAINS GARBAGE BILL WITH (1) DUMPSTER.

Full Features

Exterior Type:

Brick

Water Front:

Square Feet:

3,445

Acreage:

0.2

Built:

1978

Cooling System:

Window Unit(s)

Stories:

Roof:

Composition,Fiberglass

Current Use:

Multi-Family

Potential Use:

Multi-Family

Zoning:

MULTI

Building Square Feet:

3,445

Current Net Income:

$37,651

Unit 1:

6 room(s) / 2 bed(s) / 1 bath(s)

Unit 2:

4 room(s) / 2 bed(s) / 1 bath(s)

Unit 3:

3 room(s) / 1 bed(s) / 1 bath(s)

Unit 4:

4 room(s) / 2 bed(s) / 1 bath(s)

Unit 5:

3 room(s) / 1 bed(s) / 1 bath(s)

Taxes & Assessments

Tax Amount:

$10,582

Tax Year:

2022

Location

Zip Code:

60101

City:

Addison

County:

Du Page

Listing Office: CNB Property Consultants, Inc

Listing Office Phone: 630.231.4440

Disclaimer: The data relating to real estate for sale on this website comes courtesy of Midwest Real Estate Data, LLC as distributed by MLS GRID. 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. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 2/28/2024 at 7:23pm. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.