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2316 W Cortez St #G
Score
0
Chicago, IL

2316 W Cortez St #G

330K
2 bd • 2 ba • 1,000 sf

This analysis was generated on 2/19/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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0:00 / 0:00
List Price

$330,000

Price/Sq.Ft

$330

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Move-in ready: The unit features new flooring and fresh paint, minimizing immediate renovation needs. • Spacious kitchen: The long countertop in the kitchen is ideal for cooking at home, a desirable feature for many buyers. • Private fenced patio: The private fenced patio provides a personal outdoor retreat, a valuable amenity in a city environment. • In-unit washer and dryer: The in-unit washer and dryer add convenience and eliminate the need for shared laundry facilities. Most comparable condos in the area also include this feature. • Included parking: The fenced-in parking area provides secure and convenient parking, a valuable amenity in Ukrainian Village where street parking can be challenging. • HOA covers water, parking, exterior maintenance, and snow removal: This simplifies budgeting and reduces individual maintenance responsibilities. • Climate Risk: Flood and Fire risks are minimal (1/10).

The Bad

• Unknown year built: The listing does not specify the year the building was built, which is a significant omission. Older buildings may have outdated infrastructure (plumbing, electrical) and require more maintenance. • Garden unit: Being a garden unit, it is located on the ground floor or below, which may result in less natural light and potential moisture issues. • School ratings: The nearby Chopin Elementary School has a rating of 4/10, and Clemente Community Academy High School has a rating of 1/10, which may be a concern for families with children. • Days on Market: 105 days on the market is relatively high, which could indicate pricing issues or other concerns that are deterring potential buyers. The average days on market for similar properties in Ukrainian Village is closer to 60-75 days. • Air Quality Risk: The moderate air quality risk (4/10) and 5 bad air days per year are slightly concerning. This is higher than some other Chicago neighborhoods and should be considered by individuals with respiratory sensitivities.

The Ugly

• High property taxes: Chicago has some of the highest property taxes in the nation, which can significantly increase the total cost of ownership. The effective tax rate for similar properties in Ukrainian Village is around 1.5-2% of the assessed value. • Potential special assessments: Older buildings may require significant repairs or upgrades, leading to special assessments that can add thousands of dollars to upfront costs or monthly expenses. • Limited natural light: As a garden unit, it may have limited natural light compared to upper-level units, which can affect the overall ambiance and appeal. • Low school ratings: The low ratings of the nearby public schools may deter families with children and affect resale value. • Potential for moisture issues: Garden units are susceptible to moisture and pest issues, which can lead to costly repairs and health problems. A thorough inspection is crucial to identify and address any potential problems.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Buyers seeking a move-in ready property in a vibrant Chicago neighborhood: The unit's recent updates, including new flooring and fresh paint, minimize immediate renovation needs. Its Ukrainian Village location offers convenient access to dining and entertainment. • Individuals prioritizing outdoor space and parking in a city environment: The private fenced patio provides a personal outdoor retreat, while the fenced parking area ensures secure and convenient parking, a valuable amenity in this area. • Buyers comfortable with garden unit living and associated considerations: Garden units offer affordability, but potential buyers should be prepared for possible moisture issues and limited natural light compared to upper-level units. • Those who value included utilities and exterior maintenance: The HOA covers water, parking, exterior maintenance, and snow removal, simplifying budgeting and reducing individual maintenance responsibilities.

Not For

• Buyers seeking large living spaces: At 1,000 square feet, this condo may not be suitable for those needing more room. The square footage is on par with the average for condos in the area, but smaller than the average single-family home. • Families prioritizing top-rated schools: The nearby Chopin Elementary School has a rating of 4/10, and Clemente Community Academy High School has a rating of 1/10. Families prioritizing high-ranking schools may want to consider other neighborhoods or private school options. • Buyers averse to garden units: Garden units are located on the ground floor or below, which may result in less natural light and potential moisture issues. • Individuals sensitive to noise: Garden units may experience more street noise compared to upper-level units.
Demographics
Area Median Income

$110,694

Property History

Price History
Ownership Timeline
$410,000Financed
Jun 1, 2022
Stephanie J MyersJohn Briestansky
Warranty Deed
Standard Sale (Purchase/Resales)
$372,500Financed
Oct 24, 2018
Kelley Hiatt, Kelley MaherStephanie J Myers
Warranty Deed
Standard Sale (Purchase/Resales)
$322,000Financed
Aug 17, 2009
Brandon S AllisonKelley Maher
Warranty Deed
Standard Sale (Purchase/Resales)

Property Taxes

$6,878
2022 Tax Assessment
2.0%from previous year
Assessed Value$36,860
Tax Rate18.66%

Sunlight Analysis

Visualize how sunlight affects this property throughout the day and year.

Sunlight Analysis

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Risk Assessment

Climate Risks

airMODERATE

5 bad air quality days per year

heatMINIMAL

6 extreme heat days per year

98th percentile: 99°F

windMINIMAL

Insurance: Recommended

floodMINIMAL

FEMA Zone: Minimal Risk Area

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

• Age of the building: The year the building was built is unknown, which could indicate outdated infrastructure (plumbing, electrical). A thorough inspection is essential to identify any potential issues and estimate repair costs. • Garden unit risks: Garden units are susceptible to moisture and pest issues. A professional inspection should assess the unit's waterproofing and drainage systems to mitigate these risks. • School ratings: The low ratings (4/10 and 1/10) of the nearby public schools (Chopin Elementary and Clemente Community Academy High School) may affect resale value and appeal to families with children. • Special assessments: Given the age of the building, there's a risk of special assessments for major repairs or upgrades. Review HOA meeting minutes and financial statements to assess the likelihood of future assessments. • Limited appreciation potential: While the property has appreciated since 2004, future appreciation may be limited by its location in a garden unit and the area's market dynamics. A comparative market analysis will provide a more accurate assessment of appreciation potential.
Insurance
Annual Cost

$1,188

$99 per month

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Schools

Showing top 5 of 8 schools

Columbus Elementary School

Public•Grades PK-8
8/10
ElementaryMiddle
285 students

Pritzker Elementary School

Public•Grades PK-8
5/10
ElementaryMiddle
743 students

Mitchell Elementary School

Public•Grades PK-8
5/10
ElementaryMiddle
400 students

Talcott Elementary School

Public•Grades PK-8
5/10
ElementaryMiddle
502 students

Chopin Elementary School

Public•Grades PK-8
3/10
ElementaryMiddle
423 students

Financials

Monthly Costs
Market Rent (2 bed)

$1,950

Get a detailed estimate on Zillow®
HOA Fee

$216

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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Subject Property

Price
$330,000
Price/sqft
$330
Layout
2 bd•2 ba
Days on market
104 daysat time of analysis

Stats in the Area

Based on 6 comparable properties nearby

Average Price

$447,917

26.3%

Your price is 26.3% below average

Median Price

$450,000

26.7%

Based on 6 recent sales

Price per Sq.Ft

$401

17.7%

Your price is 17.7% below average $/sqft

Comparable Properties

2045 W Concord Place #307, Chicago, IL 60647
Price: $415,000
Sq.Ft: 1,102
Beds/Baths: 2/2
$/Sq.Ft:
$37714.1%
Sale Date: 12/4/2024
1735 N Paulina Street #411, Chicago, IL 60622
Price: $450,000
Sq.Ft: 1,100
Beds/Baths: 2/2
$/Sq.Ft:
$40924.0%
Sale Date: 11/13/2024
1252 N Hoyne Avenue #2, Chicago, IL 60622
Price: $540,000
Sq.Ft: 1,100
Beds/Baths: 2/2
$/Sq.Ft:
$49148.8%
Sale Date: 11/11/2024
1122 N Winchester Avenue #2, Chicago, IL 60622
Price: $512,500
Sq.Ft: 1,200
Beds/Baths: 3/2
$/Sq.Ft:
$42729.4%
Sale Date: 12/4/2024
2056 W Augusta Boulevard #1, Chicago, IL 60622
Price: $445,000
Sq.Ft: 1,200
Beds/Baths: 2/2
$/Sq.Ft:
$37112.4%
Sale Date: 11/11/2024
1015 N Washtenaw Avenue #2, Chicago, IL 60622
Price: $325,000
Sq.Ft: 975
Beds/Baths: 2/2
$/Sq.Ft:
$3331.0%
Sale Date: 8/23/2024

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