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4 Flat 504 Wisconsin Lincoln Park Chicago IL Mu I

City: CHICAGO ZIP: 60614

Built In: 1889

Lot Size: Less Than .25 Acre

Lot Dimensions: 25 X 74

Lot Description: Fenced Yard,

# of Units: 4

Unit 1 Floor 1: 2 bedrooms 1 baths $1650

Unit 2 Floor 2: 2 bedrooms 1 baths $1750

Unit 3 Floor 3: 1 bedrooms 1 baths $1100

Unit 4 Floor 3: 1 bedrooms 1 baths $950

Gross Income $65,400

Net Op. Income $55,100

Detailed Listing Description

Amazing investment opportunity in the heart of Old Town. This 4 unit property is on the market for the first time in over 30 years. This building features newer porches, updated windows, water heater, tuck pointing and roof. Two 2 bedroom/1 bath units with porches and wood burning fireplaces. Two 1 bedroom/ 1 bath duplex up units with wood burning fireplaces. Common patio and backyard. Fantastic location and idyllic setting overlooking the park. Update units for increased revenue potential or convert to spectacular owners unit with income. Tenants pay electric/heat.

Additional Property Details

Garage & Parking
  • ParkingNone,
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1Electric, Heat,
  • Tenant Pays Unit 2Electric, Heat,
  • Tenant Pays Unit 3Electric, Heat,
  • Tenant Pays Unit 4Electric, Heat,
Appliances
  • Appliances Unit 1Stove, Refrigerator, Dishwasher, Window Air Conditioner, Fireplace-Wood,
  • Appliances Unit 2Stove, Refrigerator, Dishwasher, Window Air Conditioner, Fireplace-Wood,
  • Appliances Unit 3Stove, Refrigerator, Window Air Conditioner, Fireplace-Wood, Cathedral Ceilings,
  • Appliances Unit 4Stove, Refrigerator, Window Air Conditioner, Fireplace-Wood, Cathedral Ceilings,
Schools
  • Grade SchoolLINCOLN ELEMENTARY SCHOOL
  • Grade School District299
  • Jr High/Middle SchoolLINCOLN ELEMENTARY SCHOOL
  • Jr High/Middle School District299
  • High SchoolLINCOLN PARK HIGH SCHOOL
  • 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 8% 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 13% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $65,400 Monthly $5,450
Rental Income Stabilized : Annual $89,172 Monthly $7,431
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$1,350,0004$337,5002.75%20.640.55%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$5,450$7,431
Year Total$65,400$89,172
Expense
Total$28,307$28,307
Net Operating Income$37,093$60,865
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $16334 $45229 $61563 $5131
Total         $16,334 $45,229 $61,563   $-24,470 $16,334 $-8,136
Stabilized         $16,334 $45,229 $61,563   $-698 $16,334 $15,636
Custom         $16334 $45229 $61563   $-698 $16334 $15636




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
11,012,5005,1311,3343,7971,3343,7975,131
21,011,1665,1311,3393,7922,6737,58910,262
31,009,8275,1311,3443,7874,01711,37615,393
41,008,4835,1311,3493,7825,36715,15720,524
51,007,1335,1311,3543,7776,72118,93425,655
61,005,7795,1311,3593,7728,08022,70630,786
71,004,4205,1311,3643,7679,44526,47235,917
81,003,0555,1311,3703,76110,81430,23441,048
91,001,6865,1311,3753,75612,18933,99046,179
101,000,3115,1311,3803,75113,56937,74151,310
11998,9315,1311,3853,74614,95441,48756,441
12997,5465,1311,3903,74116,34445,22861,572
13996,1565,1311,3953,73617,73948,96466,703

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Listing Agent: Mark Jak
Listing Office: @properties
4855 N. Bell Ave. Chicago

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