8501 South Racine Avenue

Local assessors in Chicago, IL have categorized 8501 South Racine Avenue as a commercial type of property. The home was built in 1953 and is 71 years old. The property's lot size has been calculated to be 6,077 square feet. Sharp-eyed aficionados of architecture will notice that the home on the property was built in a unknown style.

Curious to learn more about the home? Our team of data engineers have sourced the most up-to-date information from the local assessors office to share with you. 8501 South Racine Avenue was last assessed in 2023. The total value of the property was assessed at $9,653. Specifically, the land the property is located on was valued at $9,602. While improvements on the property were assessed at a total of $51. The total assessed value for this property is less than the total market value as of this moment. Which is great for tax purposes. The total amount of taxes due from a property owner is $1,985. 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. Unfortunately, this property is not currently listed for sale but our inventory of available properties is constantly updating in real time. Check back frequently for updates.