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2 Flat 2543 Thomas Chi West Town Chicago IL Mu

City: CHICAGO ZIP: 60622

Built In: 1903

Lot Size: .25-.49 Acre

Lot Dimensions: 25X125

# of Units: 2

Unit 1 Floor 1: 4 bedrooms 2 baths $2500

Unit 2 Floor 2: 2 bedrooms 1 baths $1200

Detailed Listing Description

Terrific 2 flat with outstanding In Law garden or duplex down option. Currently leased as inlaw but has been rented as duplex as reflected on rent listed below . Well maintained building with good bones and good maintenance including improved HVAC to all units, Updated electric to house, windows updated, roof updated 2016 ( under warranty to 2021 and was replaced in 2007), Tuck-pointed, sewer line updated 10 years ago. A great income property. 1st floor now vacant , 2nd floor leased through March at estimated 200 dollars under market as is OR 800 under market if its cleaned up , Garden leased through March for 900 dollars . The garage gets $200 a month- not rented . The numbers work, Humbolt named best neighborhood- located SOUTH of Division. Owner transferred out of city otherwise would not sell The neighborhood has seen rapid appreciation and was named by Redfin 2017 hottest neighborhood in the country.

Additional Property Details

Garage & Parking
  • Gargage On SiteYes
  • Gargage OwnershipOwned
  • Gargage TypeDetached,
  • Number of Gargage Spaces2
  • ParkingGarage,
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1Electric, Gas, Heat,
  • Tenant Pays Unit 2Electric, Gas, Heat,
Appliances
  • Appliances Unit 1Stove, Refrigerator, Dishwasher, Central Air Conditioner,
  • Appliances Unit 2Stove, Refrigerator, Central Air Conditioner,
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60622

Listings in this Zip Code average: 3 to 4 units, and are priced at $915,555 to $975,918
This listing is 1% more than other 2 unit listings in this zipcode.

Neighborhood Comparison:
CHI - West Town

Listings in this Neighborhood average: 3 to 4 units, with average prices of $873,844 to $1,036,652
This listing is 12% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $44,400 Monthly $3,700
Rental Income Stabilized : Annual $49,392 Monthly $4,116
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$529,0002$264,5005.74%11.910.78%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$3,700$4,116
Year Total$44,400$49,392
Expense
Total$14,010$14,010
Net Operating Income$30,390$35,382
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $6401 $17723 $24124 $2011
Total         $6,401 $17,723 $24,124   $6,266 $6,401 $12,667
Stabilized         $6,401 $17,723 $24,124   $11,258 $6,401 $17,659
Custom         $6401 $17723 $24124   $11258 $6401 $17659




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1396,7502,0115231,4885231,4882,011
2396,2272,0115251,4861,0482,9744,022
3395,7022,0115271,4841,5754,4586,033
4395,1752,0115291,4822,1055,9398,044
5394,6452,0115311,4802,6367,41910,055
6394,1142,0115331,4783,1698,89712,066
7393,5812,0115351,4763,70410,37314,077
8393,0462,0115371,4744,24111,84716,088
9392,5092,0115391,4724,78013,31918,099
10391,9702,0115411,4705,32114,78920,110
11391,4292,0115431,4685,86416,25722,121
12390,8862,0115451,4666,40917,72324,132
13390,3412,0115471,4646,95719,18626,143

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Listing Agent: Joseph Schiller
Listing Office: Berkshire Hathaway HomeServices KoenigRubloff
2600 N Hampden Ct #4F Chicago

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