Properties For Sale and For Rent in Forest Park, IL 60130

Victor M. Lopez

  Broker Associate / Realtor
Baird & Warner 724 Ogden Avenue, Downers Grove, IL 60515 Web: myplaceinchicago.com Email: [email protected]
C: 630-660-1292

Forest Park Real Estate

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PROPERTIES FOR SALE

7508-10 MADISON STREET, FOREST PARK, IL 60130

ACTIVE                                            ASKING $1,300,000

MLS # 09612552


7508-10 MADISON STREET, FOREST PARK, IL 60130

 

FOREST PARK COMMERCIAL BUILDING FOR SALE! ASKING $1,300,000! 2 STORY FRONT BRICK BUILDING WITH 2 STORY FRAME SEPTEMBER 2011 REMODELED COACH HOUSE! THERE ARE 8 UNITS IN TOTAL CONSISTING OF 3 RENTED COMMERCIAL SPACES AND 5 RENTED APARTMENTS UNITS! APARTMENT MIX IS 2 – 3 BEDROOM / 1 BATHROOM AND 3 – 2 BEDROOM / 1 BATHROOMS! 2 UNFINISHED LOW HEIGHT BASEMENTS! THERES A 4 CAR BRICK GARAGE AND 4 OUTDOOR PARKING SPOTS! ALL GAS AND ELECTRIC UTILITIES ARE SEPARATED AMONG THE 8 UNITS! ALL UNITS HAVE CENTRAL HEAT AND A/C! LANDLORD PAYS WATER! ROOF REPLACED 2010! 2009 REAR CONCRETE DRIVEWAY! VILLAGE PARKING LOCATED DIRECTLY BEHIND BUILDING! BUILDING LOCATED ON MADISON IN DOWNTOWN FOREST PARK! BUILDING 10 MINUTES FROM CTA BLUE LINE!

 

PIN: 15-13-201-003-0000

2014 TAXES - $46,492

CAP RATE – 8%

BUILDING AREA – 9900 SF

MINIMUM DOWN PAYMENT - $50,000

 

BUYER AGENT COMMISSION: $25,000

CALL ME FOR A SHOWING: 630-660-1292

EMAIL ME: [email protected]

IF YOU WANT A COPY OF THE 1) INCOME/EXPENSE REPORT, 2) RENT ROLL, 3) FINANCIAL SUMMARY,  I WILL NEED TO SEE PROOF OF FUNDS OR PRE APPROVAL LETTER. 

 

1)

7508 MADISON STREET, APT. 2W, FOREST PARK, IL -  AREA: 1400 SF

 

FOREST PARK! NICE 3 BEDROOM / 1 BATHROOM SECOND FLOOR APARTMENT AVAILABLE NOW! FIREPLACE DECOR! NEWLY REHAB! LIVING ROOM AND DINING ROOM! HARDWOOD AND TILE FLOORS! DISHWASHER IN KITCHEN! WALL OVEN! CENTRAL HEAT AND AIR CONDITIONING! IN UNIT LAUNDRY! LAUNDRYMAT AROUND THE CORNER TOO! CLOSE TO CTA MADISON BUS & CTA BLUE LINE!

 

ROOM SIZES:

LIVING ROOM - 13X17

DINING ROOM - 12X16

FAMILY ROOM – 15X15

KITCHEN - 12X14

BEDROOM 1 - 8X13

BEDROOM 2 - 9X11

BEDROOM 3 - 10X10

OFFICE - 6X8

 

VIDEO:

http://www.youtube.com/watch?v=Q9oeKoyR2Lw

 

2)

7508 MADISON STREET, APT. 2E, FOREST PARK, IL - AREA: 1200SF

 

FOREST PARK! NICE 3 BEDROOM / 1 BATHROOM SECOND FLOOR APARTMENT AVAILABLE NOW! FIREPLACE DECOR! NEWLY REHAB! LIVING ROOM AND DINING ROOM! HARDWOOD AND TILE FLOORS! DISHWASHER IN KITCHEN! WALL OVEN! CENTRAL HEAT AND AIR CONDITIONING! 1 PARKING SPOT INCLUDED IN RENT! IN UNIT LAUNDRY! LAUNDRYMAT AROUND THE CORNER TOO! CLOSE TO CTA MADISON BUS & CTA BLUE LINE!

 

ROOM SIZES:

LIVING ROOM - 13X17

DINING ROOM - 12X16

KITCHEN - 12X14

BEDROOM 1 - 8X13

BEDROOM 2 - 9X11

BEDROOM 3 - 10X10

OFFICE - 6X8

 

UNIT VIDEO:

NOT AVAILABLE

 

3)

7508 MADISON STREET, APT. 2R, FOREST PARK, IL – ABOVE GARAGE - AREA: 950 SF

 

NICE 2 BEDROOM / 1 BATHROOM FOREST PARK 2ND FLOOR APARTMENT AVAILABLE NOW! NEWLY REHAB! LIVING ROOM! HARDWOOD AND TILE FLOORS! DISHWASHER IN KITCHEN! WALL OVEN! CENTRAL HEAT AND AIR CONDITIONING! 1 PARKING SPOT INCLUDED IN RENT! LAUNDRYMAT AROUND THE CORNER! CLOSE TO CTA MADISON BUS & CTA BLUE LINE!

 

ROOM SIZES:

BEDROOM 1 - 9X10

BEDROOM 2 - 10X11

LIVING ROOM - 9X15

KITCHEN - 10X18

OFFICE AREA - 5X6

 

UNIT VIDEO:

http://youtu.be/qxaRN5X-pj0

 

4)

7508 MADISON STREET, APT. 2R – COACH, FOREST PARK, IL - AREA: 800 SF

 

NICE 2 BEDROOM / 1 BATHROOM FOREST PARK 2ND FLOOR COACH HOUSE APARTMENT AVAILABLE NOW! NEWLY REHAB! LIVING ROOM! HARDWOOD AND TILE FLOORS! DISHWASHER IN KITCHEN! WALL OVEN! CENTRAL HEAT AND AIR CONDITIONING! 1 PARKING SPOT INCLUDED IN RENT! LAUNDRYMAT AROUND THE CORNER! CLOSE TO CTA MADISON BUS & CTA BLUE LINE!

 

ROOM SIZES:

BEDROOM 1 - 9X10

BEDROOM 2 - 10X11

LIVING ROOM - 9X15

KITCHEN - 10X18

OFFICE AREA - 5X6

 

UNIT VIDEO:

https://youtu.be/Vs0J3NRNl3w

 

5)

7508 MADISON STREET, APT. 1R – COACH, FOREST PARK, IL - AREA: 800 SF

 

NICE 2 BEDROOM / 1 BATHROOM FOREST PARK 2ND FLOOR COACH HOUSE APARTMENT AVAILABLE NOW! NEWLY REHAB! LIVING ROOM! HARDWOOD AND TILE FLOORS! DISHWASHER IN KITCHEN! WALL OVEN! CENTRAL HEAT AND AIR CONDITIONING! 1 PARKING SPOT INCLUDED IN RENT! LAUNDRYMAT AROUND THE CORNER! CLOSE TO CTA MADISON BUS & CTA BLUE LINE!

 

ROOM SIZES:

BEDROOM 1 - 9X10

BEDROOM 2 - 10X11

LIVING ROOM - 9X15

KITCHEN - 10X18

OFFICE AREA - 5X6

 

SIMILAR UNIT VIDEO:

https://youtu.be/Vs0J3NRNl3w

 

6)

7510 MADISON STREET, SUITE 1, FOREST PARK, IL – FOREST PERK - AREA: 1500 SF

 

DOWNTOWN FOREST PARK! COMMERCIAL SPACE CURRENTLY USED FOR FOREST PERK CAFÉ! 1500 SF TOTALLY RENOVATED SPACE! GREAT SPACE FOR RESTAURANT! SEE WALKTHRU VIDEO FOR TOUR OF SPACE! CENTRAL HEAT AND A/C! MENS AND WOMENS HANDICAP ACCESSIBLE BATHROOMS! FULL SERVICE KITCHEN! BIG SPACIOUS DINING ROOM WITH TILE FLOORS! SERVICE AREA WITH PLENTY OF STORAGE AND GRANITE COUNTERTOPS! LOTS OF STREET PARKING! VILLAGE PARKING LOT IN REAR! RIGHT ON MADISON STREET! GET YOUR BUSINESS STARTED TODAY! CLOSE TO CTA TRAIN LINE!

 

ROOM SIZES:

DINING AREA 1 - 15X15

DINING AREA 2 - 10X15

FRONT AREA - 12X15

KITCHEN - 12X20

JANITOR CLOSET - 4X4

HALL – 4X8

MENS BATHROOM – 5X8

WOMENS BATHROOM – 5X8

 

UNIT VIDEO:

http://youtu.be/9eeUvzyyh7M

 

7)

7510 MADISON STREET, SUITE 2, FOREST PARK, IL – LAWYER - AREA: 1200 SF

 

DOWNTOWN FOREST PARK! COMMERCIAL SPACE! 1200 SF TOTALLY RENOVATED SPACE! CURRENTLY USED AS VILLAGE LAWYER OFFICE! CENTRAL HEAT AND A/C! 1 HANDICAP ACCESSIBLE BATHROOM! BREAK ROOM KITCHEN! WAITING AREA! 2 OFFICE SPACES! HARDWOOD AND TILE FLOORS! STORAGE AND GRANITE COUNTERTOPS! LOTS OF STREET PARKING! VILLAGE PARKING LOT IN REAR! RIGHT ON MADISON STREET! CLOSE TO CTA TRAIN LINE!

 

ROOM SIZES:

OFFICE AREA 1 - 7X10

OFFICE AREA 2 - 7X10

WAITING AREA - 10X10

BREAK ROOM - 10X10

STORAGE ROOM - 7X10

HALL – 3X12

MECHANICAL ROOM – 4X8

BATHROOM – 5X8

 

UNIT VIDEO:

NOT AVAILABLE

 

8)

7508 MADISON STREET, SUITE 1, FOREST PARK, IL – GIRLICIOUS - AREA: 1500 SF

 

DOWNTOWN FOREST PARK! COMMERCIAL SPACE CURRENTLY USED FOR GIRLICIOUS! 1500 SF TOTALLY RENOVATED RETAIL SPACE! CENTRAL HEAT AND A/C! 1 BATHROOMS! CASHIER AREA! BREAK ROOM! BIG SPACIOUS RETAIL AREA WITH TILE FLOORS! STORE ROOM! GRANITE COUNTERTOPS! LOTS OF STREET PARKING! VILLAGE PARKING LOT IN REAR! RIGHT ON MADISON STREET! CLOSE TO CTA TRAIN LINE!

 

ROOM SIZES:

RETAIL AREA - 15X15

RETAIL AREA 2 - 10X15

CASHIER AREA - 12X15

STORE ROOM - 12X20

BREAK ROOM - 5X8

HALL – 4X8

BATHROOM – 5X8

DRESSING ROOM – 5X8

 

UNIT VIDEO:

NOT AVAILABLE

 

CHECK OUT THE VIDEO IF AVAILABLE AND GIVE ME A CALL FOR A SHOWING IF YOU STILL WANT TO SEE THE APARTMENT.

 

VICTOR M. LOPEZ

BROKER ASSOCIATE / REALTOR

C: 630-660-1292

 

BAIRD & WARNER

724 OGDEN AVENUE

DOWNERS GROVE, IL 60515

O: 630-964-1855

F: 630-964-8619

http://myplaceinchicago.com

http://www.forestparkrealestate.webs.com

http://www.youtube.com/user/vmlprop1

http://victorlopez.bairdwarner.com

1) 7508 MADISON STREET, APT. 2W, FOREST PARK, IL - AREA: 1400 SF

2) 7508 MADISON STREET, APT. 2E, FOREST PARK, IL - AREA: 1200SF - SIMILAR TO PHOTOS ABOVE

3) 7508 MADISON STREET, APT. 2R, FOREST PARK, IL – ABOVE GARAGE - AREA: 950 SF 

4) 7508 MADISON STREET, APT. 2R – COACH, FOREST PARK, IL - AREA: 800 SF

5) 7508 MADISON STREET, APT. 1R – COACH, FOREST PARK, IL - AREA: 800 SF - PHOTOS SAME AS ABOVE

6) 7510 MADISON STREET, SUITE 1, FOREST PARK, IL – FOREST PERK - AREA: 1500 SF

7) 7510 MADISON STREET, SUITE 2, FOREST PARK, IL – LAWYER - AREA: 1200 SF

8) 7508 MADISON STREET, SUITE 1, FOREST PARK, IL – GIRLICIOUS - AREA: 1500 SF





1336 N. AUSTIN BOULEVARD, OAK PARK, IL 60302                       

SOLD  $190,000                                  Asking $214,900

1336 N. AUSTIN BOULEVARD, OAK PARK, IL 60302

THIS IS A 2 1/2 STORY BRICK BUILDING WITH A GABLE ROOF. IT HAS 3 APARTMENTS BUT IT IS A LEGAL 2 FLAT MULTI-FAMILY APARTMENT BUILDING. IT HAS 3 REAR OUTDOOR PARKING SPOTS. LANDLORD PAYS WATER AND GARBAGE: APARTMENTS COMPRISE OF 2 – 3 BEDROOM + DEN / 1 BATHROOM APARTMENTS AND 1 – 1 BEDROOM / 1 BATHROOM GARDEN APARTMENT..

THERE IS BUILDING LAUNDRY BUT ONLY A WASHER, NO DRYER, SECURE ENTRY LOBBY AND ONSITE MAINTENANCE PERSON. NO BUILDING STORAGE LOCKERS.

ROOF WAS REPLACED IN SEPTEMBER 2014. THERE IS AN ATTIC SPACE WITH ACCESS ALFROM THE REAR OPEN PORCH

QUEENSIZE BEDROOMS APARTMENTS WITH HUGE SEPARATE LIVING ROOM & HUGE DINING ROOM. 9’-0” CEILINGS ON THE 1ST AND 2ND FLOOR APARTMENTS. EACH APARTMENT HAS ITS OWN GAS METER, ELECTRIC METER, HOT WATER TANK. SEPARATE 15 YEAR OLD BOILERS FOR THE 1ST AND 2ND FLOOR APARTMENTS. GARDEN APARTMENT HAS A WALL HEATER AND 2 EXITS. LOT SIZE IS 42X135, BUILDING SIZE IS 26X60. LOCATED IN OAK PARK SCHOOL DISTRICT. 2015 TAXES $11,371

RENT INCLUDES ONLY WATER AND GARBAGE! TENANT PAYS GAS, ELECTRIC AND CABLE.

STANDARD KITCHEN APPLIANCES! HARDWOOD & TILE FLOORS! THERE IS STREET PARKING BUT STREET PARKING BUT NEED PARKING STICKER FROM VILLAGE OF OAK PARK! CLOSE TO AUSTIN BOULEVARD CTA BUS STOP! 5 MIN DRIVE TO CTA BLUE TRAIN LINE. CLOSE TO SHOPPING AND RESTAURANTS ON NORTH AVENUE!

WITH COSMETIC IMPROVEMENTS, OAK PARK RENTALS FOR 3BR APARTMENTS ARE ABOUT $1500/MTH.

THIS BUILDING HAS LOTS OF POTENTIAL FOR REAL ESTATE INVESTORS AND FIRST TIME HOME BUYERS. TO MAKE 1336 N. AUSTIN BLVD. A LEGAL 3 FLAT APARTMENT BUILDING, YOU WILL TO GUT AND REHAB THE ENTIRE BUILDING, YOU NEED A TOTAL OF 6 REAR PARKING SPOTS, WHICH YOU CAN SATISFY BY MAKING 3 TANDEM PARKING SPOTS. MAYBE DIG OUT THE BASEMENT, THE BASEMENT CEILING HEIGHT IS 7’-0“ BUT THE RADIATOR PIPES ARE INTERFERRING WITH THE BASEMENT CEILING HEIGHT. IF YOU DIG OUT THE BASEMENT, MIGHT COST AROUND $15,000+, DEPENDING HOW FAR YOU GO DOWN. IT MIGHT COST AROUND $20,000+ TO MAKE A NICE 2 BEDROOM / 1 BATHROOM GARDEN APARTMENT WITH BUILDING LAUNDRY ROOM, MECHANICAL ROOM, SUMP PIT AND STORAGE ROOM. YOU WILL NEED AN ARCHITECT FOR CONSTRUCTION PERMIT DRAWINGS FOR VILLAGE OF OAK PARK REVIEW. YOU WILL NEED TO HIRE A LICENSED AND INSURANCE BONDED REPUTABLE GENERAL CONTRACTOR TO DO THE CONSTRUCTION WORK. YOU WILL GO THRU LIKE 10+/- DUMPSTERS DURING CONSTRUCTION. YOU WILL GO THRU A NUMBER OF BUILDING INSPECTIONS LIKE STRUCTURAL, MECHANICAL, ELECTRICAL, PLUMBING, SAFETY. BETWEEN ARCHITECT, VILLAGE OF OAK PARK, GENERAL CONTRACTOR, LAWYER FOR TITLE AND CONTRACTS, BUILDING PERMITS, IT MIGHT TAKE AROUND 5-6 MONTHS BEFORE YOU CAN RENT THE APARTMENT BUILDING BECAUSE YOU WILL NEED A CERTIFICATE OF OCCUPANCY AND A BUSINESS LICENSE FROM THE VILLAGE OF OAK PARK IN ORDER TO RENT THE APARTMENTS. CHECK WITH VILLAGE OF OAK PARK TO SEE IF THEY HAVE A COMMUNITY BLOCK GRANT FOR YOUR BUILDING REHAB. IF YOU USE A FHA LOAN, YOU WILL NEED A SECTION 203K LOAN. IF YOU HAVE A CONVENTIONAL LOAN, YOU WILL NEED A HOMESTYLE LOAN. YOU CAN GET A CONSTRUCTION LOAN FROM A BANK OR PRIVATE LENDER BASED ON THE AFTER REPAIR VALUE (ARV). TYPICALLY, THE MOST YOU CAN BORROW IS BASED UPON 2 TO 2 ½ TIMES YOUR YEARLY INCOME.SO IF THIS CONSTRUCTION PROJECT COST AROUND $110,000 AND YOU’RE BORROWING $229,000, YOUR TOTAL BORROWED IS $339,000. USUALLY THE BANK WILL ONLY GIVE YOU 80% OF THE LOAN AMOUNT, WHICH MEANS YOU WILL HAVE TO PUT DOWN LIKE 20% OR $67,800 OUT OF YOUR POCKET DOWN PAYMENT. SO YOUR COMBINED DOCUMENTED YEARLY SALARY SHOULD BE AROUND $135,000-$169,500/YR. THE HIGHER YOUR DOWN PAYMENT,  THE LESS YEARLY SALARY YOU HAVE TO MAKE TO QUALIFY FOR A MORTGAGE LOAN.

 

THEN ONCE THE DUST HAS SETTLED AND YOU GOT YOUR NEWLY DECLARED LEGAL 3 FLAT APARTMENT BUILDING, IT WILL BE WORTH AROUND $500,000+/-. THIS BUILDING IS A GREAT DEAL FOR THIS NEIGHBORHOOD.

 

PIN: 16051200250000

2015 TAXES - $11,379.09

 

APARTMENT ROOM SIZES:

APT. 2 - 2ND FLOOR APARTMENT -

FOYER - 5X6

LIVING ROOM WITH FIREPLACE DECOR- 17X18

DINING ROOM - 14X15

KITCHEN - 10X11

PANTRY AREA - 4X5

BEDROOM 1 - 10X11 W/ CLOSET

BEDROOM 2 - 10X13 W/ CLOSET

BEDROOM 3 - 10X12.5 W/ CLOSET

DEN OR TANDEM BEDROOM - 7X8

PORCH - 7X8

 

UNIT APT. 2 VIDEO:

https://youtu.be/96PRBdK3jF0

 

APT. 1 - 1ST FLOOR APARTMENT -

FOYER - 5X6

LIVING ROOM NO FIREPLACE DECOR- 17X18

DINING ROOM - 14X15

KITCHEN - 10X11

PANTRY AREA - 4X5

BEDROOM 1 - 10X11 W/ CLOSET

BEDROOM 2 - 10X13 W/ CLOSET

BEDROOM 3 - 10X12.5 W/ CLOSET

DEN OR TANDEM BEDROOM - 7X8

PORCH - 7X8

 

UNIT APT. 1 VIDEO:

NOT AVAILABLE

 

APT. G - GARDEN APARTMENT -

LIVING ROOM - 12X13

KITCHEN - 8X8

BEDROOM 1 - 10X11 WITH WALK IN CLOSET - 5X9

BASEMENT - 14X17

BASEMENT STORAGE ROOM - 9X10

BASEMENT MECHANICAL AREA - 10X10

 

UNIT APT. G VIDEO:

NOT AVAILABLE

 

GIVE ME A CALL FOR A SHOWING. SEE WALK THRU VIDEO OF 2ND FLOOR APARTMENT.

VICTOR M. LOPEZ - BROKER ASSOCIATE / REALTOR - BUY SELL AND RENT - C: 630-660-1292
BAIRD & WARNER 724 OGDEN AVENUE, DOWNER GROVE, IL 60515   www.forestparkrealestate.webs.com

 

1336 N. AUSTIN, OAK PARK, IL