5321 South Michigan Avenue

5321 South Michigan Avenue in Chicago, IL was first built in 1900 and is 124 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 ranch/rambler style. There are a total of 2 floors. There are a total of 6 rooms in the home, of which, 5 are bedrooms. In terms of bathrooms, there are a total of 2 full bathrooms. There are 2 partial bathrooms. 5321 South Michigan Avenue has 1,903 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. The linear feet across the front of the lot is 250 ft and the linear feet between the front and back of the lot is 1,250. In total, the area measurement of the land is 4,025 square feet.

Learn more about the property and building on this page. The roof of the home is made of asphalt. Water for the property is sourced from a municipal system. For those who need parking, there is a detached garage. There are a total of 2 available parking spaces. 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 frame 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 wood. 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, 5321 South Michigan Avenue sold most recently in Feb 8, 2006 for a total of $210,000. If you work out the math, that's approximately a cost of $110.35 per sqft. Before that, the property was also sold for $52,000 in Feb 22, 2005. 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 $3,421 in taxes each year. The initial year of tax delinquency occurred in 2021. 5321 South Michigan Avenue was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $20,001. If we break it down further, the land itself was valued at $14,088. Improvements to the property, however, were assessed at a total of $5,913. 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.