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4 Flat 1044 Montana Chi Lincoln Park Chicago IL

City: CHICAGO ZIP: 60614

Built In: 1886

Lot Size: Less Than .25 Acre

Lot Dimensions: 25X108/115

# of Units: 4

Unit 1 Floor 1: 3 bedrooms 1 baths $1935

Unit 2 Floor 2: 3 bedrooms 1 baths $2390

Unit 3 Floor 1: 2 bedrooms 1 baths $1550

Unit 4 Floor 2: 2 bedrooms 1 baths $1550

Gross Income $10,632

Net Op. Income $87,067

Detailed Listing Description

Rarely available 6.8% cap rate investment just steps to DePaul University and Brown/Purple/Red Fullerton stop with Oscar Mayer attendance! This well maintained 5 unit property, taxed as a 4 unit property, is a money making machine. Keep as an armchair investment property, buildings running smoothly just keep high rents coming. Absolutely no vacancies due to prime location. Units have many updates including copper plumbing lines, renovated kitchens and bathrooms, updated gas forced air HVAC systems and separate utilities. Add this to your portfolio, front building First and Second floor units over 1,100 square feet each. Garden unit ceiling height over 7 feet tall, Coach house units are also large with tall ceilings and spacious rooms. Room to improve rents without having to do major renovations. Building has over 7% cap rate potential. Surrounded by restaurants and shops with a walk score of 95. Total annual income includes Garden unit rent. Garden unit has two entrances.

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,
  • Tenant Pays Unit 4Electric, Gas, Heat,
  • Appliances Unit 1Stove, Refrigerator, Dishwasher, Central Air Conditioner, Range Hood,
  • Appliances Unit 2Stove, Refrigerator, Washer, Dryer, Dishwasher, Central Air Conditioner, Range Hood,
  • Appliances Unit 3Stove, Refrigerator, Dishwasher, Central Air Conditioner,
  • Appliances Unit 4Stove, Refrigerator, Dishwasher, Central Air Conditioner, Range Hood,
  • 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 13% 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 18% more than other 4 unit listings in this neighborhood.

Calculated Rents
Rental Income : Annual $89,100 Monthly $7,425
Rental Income Stabilized : Annual $102,156 Monthly $8,513
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$7,425$8,513
Year Total$89,100$102,156
Net Operating Income$56,073$69,129
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Mortgage $15425 $42711 $58136 $4845
Total         $15,425 $42,711 $58,136   $-2,063 $15,425 $13,362
Stabilized         $15,425 $42,711 $58,136   $10,993 $15,425 $26,418
Custom         $15425 $42711 $58136   $10993 $15425 $26418

MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments

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Listing Agent: Gary Lucido
Listing Office: Lucid Realty, Inc.
1858 W Erie Chicago

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