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4 Flat 1021 Webster Chi Lincoln Park Chicago IL

City: CHICAGO ZIP: 60614

Built In: 1891

Lot Size: Less Than .25 Acre

Lot Dimensions: 24X125

# of Units: 4

Unit 1 Floor 1: 3 bedrooms 2 baths $2800

Unit 2 Floor 2: 3 bedrooms 1 baths $2500

Unit 3 Floor 3: 3 bedrooms 1 baths $2400

Unit 4 Floor 1: 1 bedrooms 1 baths $1400

Gross Income $11,040

Net Op. Income $82,500

Detailed Listing Description

Once in a lifetime chance to own a piece of the Chicago prestigious Sheffield neighborhood in Lincoln park just step to DePaul University. Rarely available legal 4 unit building. Next to multimillion-dollar homes. The opportunities are endless here: 1. Buy and just collect rent, 2. Live in one of the units and rent the rest of them 3. Convert to condos 4. Demolish and build 3 residential units and a commercial space in the favorable B1-2 zoning. It features 2 spacious simplex 3 bedroom apartments, 1 huge duplex down 3 bed /2 bath unit and a cute coach house. All of them have their own furnaces with gas forced heat and central air conditioning. Tenants pay their own gas and electricity. Recently done roof, porch, updated plumbing, electric and bathrooms. $110,400 yearly gross income with the coin laundry. Offered @ 6.25% CAP rate. The land is worth that much. Safe place to park your money. Real estate broker owned. Call before it is gone!!!

Additional Property Details

Garage & Parking
  • ParkingSpace/s,
  • Number of Parking Spaces1
  • Parking on SiteYes
  • Parking OwnershipOwned
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1Electric, Gas, Heat,
  • Tenant Pays Unit 2Electric, Gas, Heat,
  • Tenant Pays Unit 3Electric, Gas, Heat,
  • Tenant Pays Unit 4Electric, Gas, Heat,
Appliances
  • Appliances Unit 1Stove, Refrigerator, Dishwasher, Central Air Conditioner, Fireplace-Artificial, Hardwood Floors,
  • Appliances Unit 2Stove, Refrigerator, Dishwasher, Central Air Conditioner, Hardwood Floors,
  • Appliances Unit 3Stove, Refrigerator, Dishwasher, Central Air Conditioner, Hardwood Floors,
  • Appliances Unit 4Stove, Refrigerator, Dishwasher, Central Air Conditioner, Fireplace-Wood, Hardwood Floors, Skylights/Windows, Walk-In Closet,
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60614

Listings in this Zip Code average: 3 to 4 units, and are priced at $1,397,655 to $1,464,000
This listing is 9% more than other 4 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Lincoln Park

Listings in this Neighborhood average: 3 to 4 units, with average prices of $1,494,179 to $1,560,429
This listing is 15% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $109,200 Monthly $9,100
Rental Income Stabilized : Annual $113,616 Monthly $9,468
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$1,330,0004$332,5005.39%12.180.71%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$9,100$9,468
Year Total$109,200$113,616
Expense
Total$37,505$37,505
Net Operating Income$71,695$76,111
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $16092 $44559 $60651 $5055
Total         $16,092 $44,559 $60,651   $11,044 $16,092 $27,136
Stabilized         $16,092 $44,559 $60,651   $15,460 $16,092 $31,552
Custom         $16092 $44559 $60651   $15460 $16092 $31552




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1997,5005,0551,3143,7411,3143,7415,055
2996,1865,0551,3193,7362,6347,47610,110
3994,8665,0551,3243,7313,95811,20715,165
4993,5425,0551,3293,7265,28714,93320,220
5992,2135,0551,3343,7216,62118,65425,275
6990,8795,0551,3393,7167,96122,36930,330
7989,5395,0551,3443,7119,30526,08035,385
8988,1955,0551,3493,70610,65429,78640,440
9986,8465,0551,3543,70112,00833,48745,495
10985,4925,0551,3593,69613,36837,18250,550
11984,1325,0551,3653,69014,73240,87355,605
12982,7685,0551,3703,68516,10244,55860,660
13981,3985,0551,3753,68017,47748,23865,715

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Listing Agent: Kaloian Kouzmanov
Listing Office: Home Realty Group, Inc

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