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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
  • Tenant Pays Unit 1Electric, Gas, Heat,
  • Tenant Pays Unit 2Electric, Gas, Heat,
  • Tenant Pays Unit 3Electric, Gas, Heat,
  • Appliances Unit 1Stove, Refrigerator, Dishwasher, Central Air Conditioner,
  • Appliances Unit 2Stove, Refrigerator, Dishwasher, Central Air Conditioner,
  • Appliances Unit 3Stove, Refrigerator, Dishwasher, Central Air Conditioner,
  • 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
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$5,495$6,223
Year Total$65,940$74,676
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
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

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

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