2802 South Wells Street

2802 South Wells Street in Chicago, IL was first built in 1989 and is 35 years old. This has been categorized as a commercial property type. For those interested in architecture, the building on the property was built in a condo style. There are a total of 3 floors. In total, the area measurement of the land is 33,781 square feet.

Learn more about the property and building on this page. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. Tax-wise, the current owner is expected to pay close to $8,793 in taxes each year. 2802 South Wells Street was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $42,751. If we break it down further, the land itself was valued at $4,077. Improvements to the property, however, were assessed at a total of $38,674. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well.Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.