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Summit 60501 Summit
7315 W 62nd Street
$268,000
● House - Off Market

7315 W 62nd Street

Summit, IL 60501
bedrooms
3 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
1,152 Ft²
$273,178
RealtyHop Estimate
1.74%
Since May 1, 2023
National-US
Primary Model

About This Property

Beautiful brick split level near many conveniences! It features 3 bedrooms with hardwood floor, nice cabinet kitchen with granite counter tops, dining room, large living room, big family room in the lower level & a newer bath, laundry room & mechanical's room. Fenced yard with a roofed cement patio, 2 car garage. Near public transportation, I-55, park, schools, stores, etc. {House was rehabbed in 2014}. Recent improvements include: Furnace & central air: 2022, hot water heater: 4 years, newer sidewalks & garage floor, perma- seal water proofed the crawl space area in 2020; 2 sump pump were added with back up pumps.
Unit Size
1,152 Ft²
Days on Market
-
Land Size
-
Price per sqft
$233
Property Type
House
Property Taxes
$376
HOA Dues
-
Year Built
1959

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 years ago (MRED MLS #11714512)

Price History

Date / Event Date Event Price
Apr 17, 2023 Sold
Premium
Sold
Feb 6, 2023 Listed by Solutions Realty & Assoc LLC $268,500
Listed by Solutions Realty & Assoc LLC

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1959
  • Effective Year Built: 1959
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 12
  • Building Style: 41
  • Exterior Walls Type: 24
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 0
  • Garage Type: 4
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,750
  • Lot Size Depth Feet: 1,250
  • Lot Size Frontage Feet: 300
  • Total Building Area: 1,152
  • Gross Building Area: 1,152
  • Building Area: 1,152
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 24
  • Heated Square Feet: 1,152
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: FREDERICK H BARTLETTS ARGO PARK SUB S
  • Land Acres: 0000000086
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-34
  • Legal Description 1: FREDERICK H BARTLETTS ARG LOT 180

Neighborhood

  • School District Name: Argo Community High School District 217
  • Census Tract: 820400

Geography

  • District: 21
  • Parcel: 18-13-425-032-0000
  • Lot: 180
  • Meridian: SEC 13 TWN 38N RNG 12E
  • Municipality: LYONS
  • Latitude: 41.7788
  • Longitude: -87.8043

    Address

  • Full Address: 7315 W 62nd St
  • Address - House Number: 7315
  • Street Direction: W
  • Address - Street Name: 62nd
  • Address - Suffix Type: St
  • State: IL
  • City Name: Summit Argo
  • Carrier Code: C004
  • 4-Digit Zip Code: 1609
  • Zip Code: 60501

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $459,223
  • Tax Rate Code Area: 21038

    Appraisal Valuation

  • Standard Deviation: 0.2429
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 65
  • Final Value: 279,200
  • High Value: 347,027
  • Low Value: 211,374

    Market Valuation

  • Market Total Value: $240,000
  • Market Land Value: $27,190
  • Market Improvement Value: $212,810

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $24,000
  • Assessed Land Value: $2,719
  • Assessed Improvements Value: $21,281

    Sales

  • Current Sale Contract Date: Apr 15, 2023
  • Current Sale Recording Date: Apr 19, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 10078
  • Previous Sale Recording Date: Jan 07, 2015
  • Previous Sale Contract Date: Dec 22, 2014
  • Previous Sale Amount: $15,000
  • Previous Sale Document Type: 71
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Summit

Stats & Trends

Median Asking:

$349,700

Sale Price/ft²

$220

Below Asking

0.01%

Average Days on Market

63

Average Home Size

1364 ft²

Average Home Age

82.6 years

Currently For Sale

10 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 7241 Beloit Avenue, Bridgeview, IL, 60455

$3,100 /mo

  • 3 Beds
  • 2 Baths
  • 1,069 ft²
7241 Beloit Avenue, Bridgeview, IL, 60455 Listing by Fares Suleiman
Unit for rent at 6104 S Nashville Avenue, Chicago, IL, 60638

$3,400 /mo

  • 2 Beds
  • 1 Bath
  • 1,200 ft²
6104 S Nashville Avenue, Chicago, IL, 60638 Listing by Dean Chowaniec

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Juan Del Real, Solutions Realty & Assoc LLC
Last Updated: 3 years ago
Data Source: MRED, MLS# 11714512
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 7315 West 62nd Street built and last sold?
The property at 7315 West 62nd Street was built in 1959 and last sold on Apr 15, 2023 for $268,000.
How much is this home worth?
The estimated value of the home located at 7315 West 62nd Street is $273,219.
What are some comparable homes to 7315 West 62nd Street?
There are currently no comparable homes to 7315 West 62nd Street.
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