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.
Property Details
Property Features
Property Information:
Year Built: 1919
Listing Office:
Office Name: RE/MAX In The Village
Office Phone: (708) 386-1400
Listing Agent: Jane McClelland
Interior Features
Interior Information:
Basement: Yes
Bedroom and Bathroom Information:
Total Bedroom Count: 5
Exterior Features
Exterior Information:
Waterfront: Fencing
Exterior: Patio
Parking Information:
Garage Space: 2 spaces
Attached Garage: No
Parking: Off Alley
Lot Features
Lot Information:
Lot: Fencing
Utilities
Utilities Information:
Heating: Natural Gas
School Info
Assigned Schools Information:
Oak Park & River Forest High School, Public District Grades 9-12
Gwendolyn Brooks Middle School, Public District Grades 6-8
Abraham Lincoln Elementary School, Public District Grades KG-5
Other
Directions Information:
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.
Price Information
Listing Price Info
Price Summary:
List Price: $668,000
Tax Information:
Annual Amount: $13,019
Tax Year: 2019
What can I afford?
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Housing Market Comparison
See how this home compares to others in Oak Park, IL.
This property is $255.8K more than the Median Sold Price in Oak Park, IL.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: MRED
MLS Number: #12049915
Listing Office:
Office Name: RE/MAX In The Village
Office Phone: (708) 386-1400
Listing Agent: Jane McClelland
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
6
/10
Abraham Lincoln Elementary School
1111 S Grove Ave
Distance between this listing and this school0.52 miles
Public District Grades KG-5
Middle School
6
/10
Gwendolyn Brooks Middle School
325 S Kenilworth Ave
Distance between this listing and this school0.47 miles
Public District Grades 6-8
High School
8
/10
Oak Park & River Forest High School
201 N Scoville Ave
Distance between this listing and this school1.04 miles
Public District Grades 9-12
Assigned Schools
6
/10
Abraham Lincoln Elementary School
1111 S Grove Ave
Distance between this listing and this school0.52 miles
Public District Grades KG-5
Nearby Schools
6
/10
Longfellow Elementary School
715 Highland Ave
Distance between this listing and this school0.65 miles
Public District Grades PK-5
7
/10
Irving Elementary School
1125 S Cuyler Ave
Distance between this listing and this school0.80 miles
Public District Grades KG-5
Assigned Schools
6
/10
Gwendolyn Brooks Middle School
325 S Kenilworth Ave
Distance between this listing and this school0.47 miles
Public District Grades 6-8
Nearby Schools
4
/10
Percy Julian Middle School
416 S Ridgeland Ave
Distance between this listing and this school0.68 miles
Public District Grades 6-8
4
/10
Forest Park Middle School
925 Beloit Ave
Distance between this listing and this school0.99 miles
Public District Grades 6-8
Assigned Schools
8
/10
Oak Park & River Forest High School
201 N Scoville Ave
Distance between this listing and this school1.04 miles
Public District Grades 9-12
Nearby Schools
1
/10
Douglass Academy High School
543 N Waller Ave
Distance between this listing and this school1.76 miles
Public District Grades 9-12
1
/10
Voise Academy High School
231 N Pine Ave
Distance between this listing and this school1.79 miles
The neighbors living near this home have an average income of $113,699. Typical income of Oak Park, IL residents is between $100k-200k annually. The most common type of family is single, no kids. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 708 S Grove Ave
What is the listing price of this property?
The listing price of 708 S Grove Ave property is $668,000.
What type of property is this?
The property 708 S Grove Ave is a house located in Oak Park, Illinois, 60304.
Is this property for sale now?
Accepting Backup Offers: 708 S Grove Ave is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.
What are the assigned schools for this property?
The assigned schools for 708 S Grove Ave are: Abraham Lincoln Elementary School: GreatSchools Rating 6/10Gwendolyn Brooks Middle School: GreatSchools Rating 6/10Oak Park & River Forest High School: GreatSchools Rating 8/10
What is the annual property tax for this property?
According to the records, the last property tax for 2019 is $13,019 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on September 7, 2001 for $320,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 708 S Grove Ave has 5 bedrooms and 4 bathrooms.
Which year was this property built?
The year of construction for 708 S Grove Ave is 1919.
This home is located at 708 S Grove Ave in Oak Park, IL and zip code 60304. This home was built in 1919. Features: 5 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since May 16, 2024 and is currently priced at $668,000.
Over 38 listings were sold over their listed price in May 2024 in Oak Park, IL. In the same period over 23 listings were sold below the listed price and 14 listings were sold for the listed price. Between April 2024 and May 2024, Oak Park, IL real estate market has seen increase in the number of listings by 15.6%. Listings spent 27 days on the market in May 2024, and had a median list price of $412,166 during the same period.
From Rocket Homes Real Estate and based on county public records data.