← 7542 and 7656 S Colfax Ave, Chicago, IL 60649 · All properties

DESCRIPTION-FULL-2026-04-12 - 7542 and 7656 S Colfax Ave, Chicago, IL 60649.md

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Properties originally listed for sale on the marketplace by Marco Cesario with RE/MAX Next. [Click here](https://www.lofty.ai/help/articles/6145558-how-the-lofty-marketplace-works) to learn more about how third parties list their properties on the Lofty Marketplace. --- ## 7656 S Colfax Ave, Chicago, IL 60649 3-Unit property (Triplex) located in Chicago, Illinois. ## Details - 9 bedroom, 6 bathroom Triplex built in 2008 - Comprised of three 3 bedroom, 2 bathroom units with 1,150 sq ft each - The

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Properties originally listed for sale on the marketplace by Marco Cesario with RE/MAX Next.

[Click here](https://www.lofty.ai/help/articles/6145558-how-the-lofty-marketplace-works) to learn more about how third parties list their properties on the Lofty Marketplace.

---

## 7656 S Colfax Ave, Chicago, IL 60649

3-Unit property (Triplex) located in Chicago, Illinois.

## Details
- 9 bedroom, 6 bathroom Triplex built in 2008
- Comprised of three 3 bedroom, 2 bathroom units with 1,150 sq ft each
- The in-unit improvements include: New kitchen cabinets, granite counter tops & mosaic tile backsplashes, hardwood floors, brush nickel faucets, SS appliances, bathrooms, light fixtures, ceiling fans, and individual HVACs

## Property Management and Insurance
- Managed by ECO Systems LLC
- [Insurance Policy](https://www.dropbox.com/s/gub187uuy7t149q/Insurance%20Policy%20-%20Lofty%20Holding%207542%20%26%207656%20S%20Colfax%20Avenue%20LLC.pdf?dl=0) from Shelter Mutual Insurance Company

## Occupancy Status
- **Unit 1** (Eviction in progress)
    - Eviction in progress
- **Unit 2** (Delinquent, eviction in progress)
    - Eviction granted, waiting on set-out
    - Tenant owes a balance of $13,910
    - 1 year lease renewal (01/01/2024 - 12/31/2024)
    - $1,391/month
    - Tenant was previously on a 1 year lease (12/15/2022 - 12/31/2023) at $1,350/month
    - [Lease Agreement](https://www.dropbox.com/s/1guhmncv2mk46yg/Lease%20Agreement%20%287656%20Unit%202%29%20-%20Lofty%20Holding%207542%20%26%207656%20S%20Colfax%20Avenue%20LLC_Redacted.pdf?dl=0)
- **Unit 3** (Eviction in progress)
    - Eviction in progress


## Location Data
- 1/5 Neighborhood Rating on [Roofstock](https://www.roofstock.com/get-neighborhood-rating)
- "C" Rating for Zip Code on [Niche](https://www.niche.com/places-to-live/z/60649/)


## Due Diligence Documents
- [Inspection Report](https://www.dropbox.com/s/stjm21ear1e69d0/Inspection%20Report%20-%20Lofty%20Holding%207542%20%26%207656%20S%20Colfax%20Avenue%20LLC.pdf?dl=0)
- [Assignment Contract](https://www.dropbox.com/s/d9se4k3ng3alcv2/Assignment%20Contract%20-%20Lofty%20Holding%207542%20%26%207656%20S%20Colfax%20Avenue%20LLC.pdf?dl=0)
- [Operating Agreement](https://www.dropbox.com/s/9cbd914n5wsjagf/DAO%20Operating%20Agreement%20-%207542%20%26%207656%20S%20Colfax%20Ave%2C%20Chicago%2C%20IL%2060649.pdf?dl=0)
- [Closing Statement](https://www.dropbox.com/s/fnvktlho5reiyls/Closing%20Statement%20-%20Lofty%20Holding%207656%20Colfax%20Avenue%20LLC.pdf?dl=0)
- [Property Deed](https://www.dropbox.com/s/sjvxrbe2cwt7o63/Property%20Deed%20%287656%29%20-%20Lofty%20Holding%207542%20South%20Colfax%20Avenue%20LLC.pdf?dl=0)
- [View All Documents](https://www.dropbox.com/sh/qxbzp650xhsqv80/AAAKbznwRk0WBBJ1BTatuhUIa?dl=0)

## 7542 S Colfax Ave, Chicago, IL 60649

3-Unit property (Triplex) located in Chicago, Illinois.

## Details
- 10 bedroom, 3 bathroom Triplex built in 1921
- Comprised of two 3 bedroom 1 bathroom units and one 4 bedroom 1 bathroom unit with approximately 1,500 square feet of living space per unit
- All units were completely renovated in 2016 and 2017. The in-unit improvements include:
    - Kitchen cabinets, granite counter tops & mosaic tile backsplashes, new engineered hardwood floors, brush nickel faucets, GE appliances, bathrooms, light fixtures, and ceiling fans. The capital improvements include: new electrical service with GFCI’s, plumbing, new windows, HVAC, trim, doors, and new porches.
- This property has a 7.5% maintenance reserve instead of the typical 5% maintenance reserve to cover the following non-urgent repairs
    - New roof re-sealing layer - $6,900
    - Spot Brick & mortar tuck pointing - $10,000
    - Potential remediation of moisture damage to floor of Unit 2 - $3,500

## Property Management and Insurance
- Managed by ECO Systems LLC
- [Insurance Policy](https://www.dropbox.com/s/1li8s5nq8gyhecm/Insurance%20Policy%20%287542%29%20-%20Lofty%20Holding%207542%20%26%207656%20S%20Colfax%20Avenue%20LLC.pdf?dl=0) from Shelter Mutual Insurance Company

## Occupancy Status
- **Unit 1**
    - The housing authority is withholding payments of $4,984 until the housing inspection is completed and passed.
    - 1 year lease (08/01/2022 - 07/31/2023)
    - $1,246/month
    - Tenant receives rental assistance from the Chicago Housing Authority (CHA). The CHA portion of rent is $1,246/month and the tenant portion is $0.
    - [Lease Agreement](https://www.dropbox.com/s/qt7soih9rgy2gvh/Lease%20Agreement%20%287542%20Unit%201%29%20-%20Lofty%20Holding%207542%20%26%207656%20S%20Colfax%20Avenue%20LLC_Redacted.pdf?dl=0)
    - [CHA Lease Renewal](https://www.dropbox.com/s/aa13vi4qp6i7shs/Lease%20HAP%20Renewal%207542-1%20%28Redacted%29%20-%20Lofty%20Holding%207542%20%26%207656%20S%20Colfax%20Avenue%20LLC.pdf?dl=0)
    - The tenant signed a lease renewal at $1,246/month from 08/01/2023 to 07/31/2024.
    - The lease renewal fee is $350 and will be deducted from May's rent.
- **Unit 2**
    - 1 year lease (02/17/2025 - 02/16/2026)
    - $1,290/month
    - $2,580 Security Deposit
- **Unit 3** (Eviction in progress)
    - 1 year lease (03/21/2024 - 03/20/2025)
    - $1,260/month
    - $1,890 Security Deposit
    - The tenant is responsible for all utilities


## Location Data
- 2.5/5 Neighborhood Rating on [Roofstock](https://www.roofstock.com/get-neighborhood-rating)
- "C" Rating for Zip Code on [Niche](https://www.niche.com/places-to-live/z/60649/)


## Due Diligence Documents
- [Inspection Report](https://www.dropbox.com/s/stjm21ear1e69d0/Inspection%20Report%20-%20Lofty%20Holding%207542%20%26%207656%20S%20Colfax%20Avenue%20LLC.pdf?dl=0)
- [Assignment Contract](https://www.dropbox.com/s/d9se4k3ng3alcv2/Assignment%20Contract%20-%20Lofty%20Holding%207542%20%26%207656%20S%20Colfax%20Avenue%20LLC.pdf?dl=0)
- [Operating Agreement](https://www.dropbox.com/s/9cbd914n5wsjagf/DAO%20Operating%20Agreement%20-%207542%20%26%207656%20S%20Colfax%20Ave%2C%20Chicago%2C%20IL%2060649.pdf?dl=0)
- [Closing Statement](https://www.dropbox.com/s/xhrs5qkhozl45qi/Closing%20Statement%20-%20Lofty%20Holding%207542%20Colfax%20Avenue%20LLC.pdf?dl=0)
- [Property Deed](https://www.dropbox.com/s/qua75gxpucq8jac/Property%20Deed%20%287542%29%20-%20Lofty%20Holding%207542%20South%20Colfax%20Avenue%20LLC.pdf?dl=0)
- [View All Documents](https://www.dropbox.com/sh/qxbzp650xhsqv80/AAAKbznwRk0WBBJ1BTatuhUIa?dl=0)