Off-Market Apartment – Wilcox Wonder Sold

  • $185,500
  • 12 beds
  • 14 baths
  • 9282 sqft

This Off Market Apartment is a deeply discounted Wholesale property that is now available. It is located at 4014-16 W Wilcox St, Chicago, IL. 4014-16 W Wilcox St in the West Garfield Park neighborhood in Chicago, IL and in ZIP code 60624. This property has 12 bedrooms, 14 bathrooms and approximately 9,282 sqft of floor space. This property has a lot size of 6,050 sqft and was built in 1914. The property is vacant and ready for a full gut renovation.

The subject investment property is located in the West Garfield Park Neighborhood. West Garfield Part is a low-density submarket immediate west of Garfield Park. Garfield Park is a  184-acre urban park. Recreational features include baseball and soccer fields, tennis and basketball courts, a swimming pool, playgrounds, and an ice skating rink. The Golden Dome houses an Olympic-sized gymnasium, gymnastic and fitness centers, boxing ring, and theater. It is home to the Garfield Park Conservatory, one of the largest plant conservatories in the United States. The property is also a short walk away from Legler Regional Library.

The unit mix is comprised of spacious studio, one and two-bedroom floorplans. The unit breakdowns as following: 4 – Studio, 8 – 1 bedroom, 2 – 2 bedrooms. A qualified investor has the rare opportunity to acquire a diamond in the rough in a high-demand, low-density Chicago submarket. This property is currently vacant which means there is no tenant to displace and the rehab process can start immediately. This is not an assignment, we have a clear and marketable title in hand this ready for a quick close.

This 14 unit building in West Garfield Park is a Cash Flow Machine!  3 and 4 flats in West Garfield Park have sold for $370,000 – $399,000 within the past 6 months!  This building recently yielded $132,000 per year in gross income! This is a cash flowing business that is ready for a new CEO!  This is a rare opportunity to purchase a strong cash-flowing asset with hundreds of thousands in equity built into the price! Great numbers! Great location! The buyer will need to buy the property subject to building code violations.

ARV $660,000.00 Purchase Price $185,500.00 Rehab Costs: $115,000.00 Total Cost: $300,500.00* Equity: $359,500 Total Profit: $359,500.00*

* not including holding and closing costs

Looking for a quick cash sale. For experienced investors only.

60624 Market Rents 2 bed – $950, 1 bed – 800, studio – $650

SERIOUS BUYERS ONLY NO WHOLESALERS, $15,000 NON REFUNDABLE EARNEST DEPOSIT REQUIRED.

TERMS OF SALE:

THIS IS NOT FOR NEWBIE INVESTORS, SEASONED MULTIFAMILY INVESTORS ONLY!!!

THIS IS A CASH ONLY DEAL. Please complete your due diligence before contracting. Earnest money due is $15,000.00.

• Buyer pays ALL closing costs which include transfer taxes, title insurance, and title company fees We receive a substantial discount from our title company and will pass those savings along to you

• Buyer will receive taxes prorated to 100 percent and free and clear title

• Proof of funds required for viewing

• The first investor with a signed contract and earnest money gets the deal

This information is deemed reliable, but please complete your own due diligence.

For Photos, Videos and supporting documents please visit:

https://drive.google.com/drive/folders/1MroNtW8vK_V91sI03tfctaOGt1EUYy-B?usp=sharing

https://drive.google.com/folderview?id=1MroNtW8vK_V91sI03tfctaOGt1EUYy-B

Please move swiftly, this one won’t last long!

Price:
$185,500
Address:
4014-16 W. Wilcox Street
Chicago, IL 60624
Square Feet:
9282
Lot Size:
6050 sq ft
Bedrooms:
12
Bathrooms:
14
Terms:
For Sale
Property Type:
Apartment
Year Built:
1914
Basement:
Full Finished - 2 Units
Const. Type:
Masonary

Additional Features

PROPERTY NAME: The Wilcox Wonder PROPERTY ADDRESS: 4014-16 West Wilcox Street Chicago, IL 60624 APN: 16-15-207-040-0000 LOT SIZE: 6,050 SF BUILDING SIZE: 9,282 SF ZONING: C1-2 PARKING SPACES: 2 - 2 brick car garage (4 garage spaces - not used) YEAR BUILT: 1914 NUMBER OF STORIES: 3 WALLS: Plaster/Drywall NUMBER OF UNITS: 14 ROOF: Flat rubber HEAT & A/C: Steam Radiators HOT WATER HEATERS: Building Controlled LAUNDRY: N/A SECURITY: N/A Annual Taxes: $6,777 After rehab value: $660,000 - Price per unit valuation analysis method used based on the closed sales of a 6 unit, a 7 unit, and 12 unit buildings in West Garfield Park that sold within the past 5 months. The average sale price per unit is $47,142.

Call 630-230-8969 for more details

Property Location