5231 South Michigan Avenue

5231 South Michigan Avenue in Chicago, IL was first built in 1914 and is 110 years old. This has been categorized as a residential property type. For those interested in architecture, the building on the property was built in a multifamily style. There are a total of 3 floors. There are a total of 48 rooms in the home, of which, 26 are bedrooms. In terms of bathrooms, there are a total of 18 full bathrooms. There are 18 partial bathrooms. 5231 South Michigan Avenue has 17,792 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. In total, the area measurement of the land is 5,370 square feet.

Learn more about the property and building on this page. The roof of the home is made of tar and gravel. For those who need parking, there is a no garage. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with masonry control joints. The quality of the control joints have been graded by the local assessor with a letter grade of C. The condition of the building has been evaluated as average. The exterior walls of the home are made of masonry. Walk into the home itself and you'll find that it is currently being cooled with air conditioning. As for heating, the home is utilizing a hot water heating system. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 5231 South Michigan Avenue sold most recently in Dec 14, 2018 for a total of $525,000. If you work out the math, that's approximately a cost of $29.51 per sqft. Before that, the property was also sold for $110,000 in Aug 21, 1997. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $7,342 in taxes each year. 5231 South Michigan Avenue was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $35,584. If we break it down further, the land itself was valued at $18,795. Improvements to the property, however, were assessed at a total of $16,789. 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. As you can see, there are a lot of things to consider when purchasing a home. For example, have you evaluated your own Debt-To-Income ratio (DTI) and understood how this may impact the number of loan options you have access to? Don't worry, we'll cover the basics such as what a DTI ratio is, how to calculate yours, what most lenders consider to be an ideal ratio, and also provide our tips on how you can improve your score if it is on the higher side.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.