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Summit 60501 Summit
7540 W 59th Street
$355,000
● House - Off Market

7540 W 59th Street

Summit, IL 60501
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,640 Ft²
$2,348
Est. Monthly
5.43%
Cap Rate

About This Property

Buyer got cold feet, their loss is your gain.. Beautifully remodeled and move-in ready! This spacious 3-bedroom, 2-bath home features a bright, open kitchen with a large granite island, rich cabinetry, stainless steel appliances, and stylish backsplash. The adjoining dining room is perfect for gatherings, while the updated baths showcase modern finishes and tile work. Enjoy a generously sized yard, an oversized garage, and an unfinished basement with a rough-in bath-ready for your personal touch. Nothing to do but unpack and enjoy!
Unit Size
1,640 Ft²
Days on Market
-
Land Size
-
Price per sqft
$216
Property Type
House
Property Taxes
$604
HOA Dues
-
Year Built
1925

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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.

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1925
  • Effective Year Built: 1925
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 6
  • Building Quality: 7
  • Construction Type: 0
  • Building Style: 28
  • Exterior Walls Type: 12
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 15
  • Floor Count: 150
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 0
  • Garage Type: 4
  • Parking Space Count: 3
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,883
  • Lot Size Depth Feet: 390
  • Lot Size Frontage Feet: 1,230
  • Total Building Area: 1,640
  • Gross Building Area: 1,640
  • Building Area: 1,640
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 24
  • Heated Square Feet: 1,640
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: FISCHER & MILLERS ARGO
  • Land Acres: 0000000112
  • Standard Land Use Code: 1001
  • County Land Use Code: 2-03
  • Legal Description 1: SOUTH2 NW4 SEC13

Neighborhood

  • School District Name: Argo Community High School District 217
  • Census Tract: 820300

Geography

  • District: 21
  • Parcel: 18-13-227-020-0000
  • Block: 7
  • Lot: 24
  • Meridian: SEC 13 TWN 38N RNG 12E
  • Municipality: LYONS
  • Latitude: 41.7846
  • Longitude: -87.8106

    Address

  • Full Address: 7540 W 59th St
  • Address - House Number: 7540
  • Street Direction: W
  • Address - Street Name: 59th
  • Address - Suffix Type: St
  • State: IL
  • City Name: Summit Argo
  • Carrier Code: C003
  • 4-Digit Zip Code: 1416
  • Zip Code: 60501

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $509,751
  • Tax Rate Code Area: 21038

    Appraisal Valuation

  • Standard Deviation: 0.2555
  • Valuation Date: Dec 13, 2023
  • Confidence Score: 48
  • Final Value: 258,022
  • High Value: 323,951
  • Low Value: 192,092

    Market Valuation

  • Market Total Value: $240,000
  • Market Land Value: $35,400
  • Market Improvement Value: $204,600

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $24,000
  • Assessed Land Value: $3,540
  • Assessed Improvements Value: $20,460

    Sales

  • Current Sale Contract Date: May 29, 2015
  • Current Sale Recording Date: Jun 03, 2015
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 1515446111
  • Previous Sale Recording Date: Aug 26, 1998
  • Previous Sale Contract Date: Aug 21, 1998
  • Previous Sale Amount: $96,000
  • 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:

$349,000

Sale Price/ft²

$216

Below Asking

0.01%

Average Days on Market

62

Average Home Size

1394 ft²

Average Home Age

80.3 years

Currently For Sale

11 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 6612 W 64th Place, Chicago, IL, 60638

$2,500 /mo

  • 2 Beds
  • 1 Bath
  • 1,100 ft²
6612 W 64th Place #2W, Chicago, IL, 60638 Listing by Patricia Arboleda

Rentals Near You

Click here to view more rentals in the neighborhood.
MRED

Listed by: Mike Berg, Berg Properties
Data Source: MRED, MLS# MRD12445955
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 7540 West 59th Street built and last sold?
The property at 7540 West 59th Street was built in 1925 and last sold on May 29, 2015 for $185,000.
How much is this home worth?
The estimated value of the home located at 7540 West 59th Street is $0.
What are some comparable homes to 7540 West 59th Street?
There are currently no comparable homes to 7540 West 59th Street.
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