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3 Flat 1900 Bissell Chi Lincoln Park Chicago IL

City: CHICAGO ZIP: 60614

Built In: 1886

Lot Size: Less Than .25 Acre

Lot Dimensions: 25FT BY 74FT

# of Units: 3

Unit 1 Floor 1: 2 bedrooms 1 baths $1595

Unit 2 Floor 2: 2 bedrooms 1 baths $1850

Unit 3 Floor 3: 3 bedrooms 1 baths $2050

Gross Income $65,740

Detailed Listing Description

LINCOLN PARK- WELL CARED FOR LEGAL 3-UNIT BUILDING NEXT TO A PARK. Great investment opportunity in a very solid neighborhood in the Oscar Mayer School District. Incredible location on a fabulous tree-lined street just one block from the Armitage Brown & Purple Line "L" stop & a plethora of wonderful shops & restaurants. Good cash flow with around $65K in gross yearly income and room for improved revenue from future rent increases and/or additional improvements to the property. VERY EASY TO RENT LOCATION just 5 blocks from DePaul's campus. UPDATED BUILDING WITH SEPARATE UTILITIES FOR EACH APARTMENT including dishwashers & central air. Tenants pay their own gas, heat and electric. Bright units with high ceilings, hardwood floors & original vintage details. Building is fully occupied with great tenants. Turn-key building perfect for your long term investment return in one of Chicago's most sought-after neighborhoods!

Additional Property Details

Garage & Parking
  • ParkingNone,
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1Electric, Gas, Heat,
  • Tenant Pays Unit 2Electric, Gas, Heat,
  • Tenant Pays Unit 3Electric, Gas, Heat,
Appliances
  • Appliances Unit 1Stove, Refrigerator, Dishwasher, Central Air Conditioner,
  • Appliances Unit 2Stove, Refrigerator, Dishwasher, Central Air Conditioner,
  • Appliances Unit 3Stove, Refrigerator, Dishwasher, Central Air Conditioner,
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 39% more than other 3 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 43% more than other 3 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $65,940 Monthly $5,495
Rental Income Stabilized : Annual $74,676 Monthly $6,223
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$850,0003$283,3334.60%12.890.73%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$5,495$6,223
Year Total$65,940$74,676
Expense
Total$26,807$26,807
Net Operating Income$39,133$47,869
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $10285 $28478 $38763 $3231
Total         $10,285 $28,478 $38,763   $370 $10,285 $10,655
Stabilized         $10,285 $28,478 $38,763   $9,106 $10,285 $19,391
Custom         $10285 $28478 $38763   $9106 $10285 $19391




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1637,5003,2318402,3918402,3913,231
2636,6603,2318442,3871,6844,7786,462
3635,8163,2318472,3842,5317,1629,693
4634,9693,2318502,3813,3809,54412,924
5634,1203,2318532,3784,23411,92116,155
6633,2663,2318562,3755,09014,29619,386
7632,4103,2318592,3725,94916,66822,617
8631,5513,2318632,3686,81219,03625,848
9630,6883,2318662,3657,67821,40129,079
10629,8223,2318692,3628,54723,76332,310
11628,9533,2318722,3599,41926,12235,541
12628,0813,2318762,35510,29528,47738,772
13627,2053,2318792,35211,17430,82942,003

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Listing Agent: Michael Hall
Listing Office: Baird & Warner
5514 N. Paulina Chicago

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