708 S Grove Avenue
Oak Park, IL, 60304 $ 668,000
Bedrooms5 Baths4.1 Sq 3,250 Monthly Estimate*
$ 4,440
for $668,000 with 5 bedrooms and 4 full baths, 1 half bath. This 3,250 square foot home was built in 1919.
This property is a rare find - it functions beautifully as an investment property and could also be perfect for multi-generational living. The icing on the cake is the coach house over the garage that currently operates as a successful airbnb that generates approx. $25000/year in additional income!! With the growing demand for short-term rentals, capitalize on the opportunity to generate substantial rental income from the Airbnb accommodations while enjoying the stability of long-term tenants in the main residence. Whether utilized as an Airbnb rental, guest suite, or home office, this versatile space offers endless possibilities. The owner's unit is a large 9 room, 3+ bdrm, 2.1 bath apartment which is duplexed into the basement, It includes a family room and an office/4th bedroom (rent expected to be approx $3,400 per month) . The 2nd floor apartment is a 2 bedroom, 1 bath apartment that has tenants you would love to keep. Heat (gas) is metered separately so each unit pays for their own heat and electric. Both units have been upgraded with newer kitchens and baths. The 1st floor unit has a large primary bedroom with an en-suite bath and walk-in closet). Each unit has its own furnace, central air, and washer & dryer. The home is situated on a generous 50' lot - it has plenty of green space and beautiful gardens as well as a great slate stone patio. Parking available for 4 cars --2 in the over-sized garage and 2 exterior spaces. This property has been lovingly maintained by the current owner-occupants for many years, and they have invested significantly in updates to major systems. Recent improvements include. Pella windows throughout; Stucco replacement/repair, exterior painting, newer roof, newer garage (including concrete pad and parking pad) both furnaces (under 5 yrs old), flood control system, electrical & plumbing updates. All of the heavy-lifting has already been done. This Property is in an ideal location, in an active and fun residential neighborhood, just steps to the Southtown Oak Park Ave Business District, with its many shopping and dining options, and less than 2 blocks to the Blue Line. Don't miss out on this rare chance to own a investment property with dual income potential. Whether you are an investor looking to expand your portfolio or a homeowner seeking supplemental income, this property offers endless possibilities.
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FeaturesGeneralSewer Public Sewer
Heating Natural Gas
Possession Negotiable
Roof Asphalt
Exterior Features Patio
Garage Spaces 2
Year Built 1919
Township Oak Park
Tax Year 2022
Percent Ownership Fee Simple
Gross Income 49480
County Cook
Insurance Expense 2178
New Construction N
Property Type Residential Income Two to Four Units
Total Rooms 16
Status Pending
Directions Oak Park Ave to Van Buren; West to Grove; North to Home. Park before you reach Jackson as there is no parking in front of the home.
High School Oak Park & River Forest High Sch
City Oak Park
High School District 200
MLS Area Oak Park
Waterfront Y/N N
Elementary School Abraham Lincoln Elementary Schoo
Tax Annual Amount 11306
Middle/Junior High School Gwendolyn Brooks Middle School
Water Sewer Expense 2400
Additional Parcels Y/N N
Days on Market 6
Standard Status Pending
Middle/Junior School District 97
Elementary School District 97
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InteriorBasement Full Finished
Total Bedrooms 5
Room Type Loft Utility Room-Lower Level
Total Baths 4
Bedrooms Possible 5
Full Baths Building 3
Half Baths Building 1
Total Number of Units 2
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ExteriorParking Features Off Alley
Lot Features Fenced Yard
Water Source Lake Michigan
Total Parking 4
Foundation Details Concrete Perimeter
Lot Dimensions 50 X 125
Other Equipment Humidifier Central Vacuum Ceiling Fan(s) Sump Pump
Garage Onsite Yes
Garage Type Detached
Garage Ownership Owned
Exterior Stucco
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* Excluded FeaturesList ByRe/Max In The VillageBroker
janemcclelland.remax@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $4,440
- Monthly Property Taxes
- $942
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Oak Park, IL
Average List Price $723,561
Percent of Sale Price 8%
About Oak Park, IL 51,895 Population
-1% Since 2002
$ 86,418 Median Income
40.94 Median Age
30% Households with Children
Trends Information provided by ATTOM Data Solutions.
567958 Elementary School
567542 Middle School
Oak Park & River Forest High Sch High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/16/2024 | $668,000 | | Listed Price |