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648 Webster

City: CHICAGO ZIP: 60614

Built In: 1886

Lot Size: A

Lot Dimensions: 25 X 128

Lot Description: H,Q

# of Units: 2

Unit 1 Floor G: 3 bedrooms 1 baths $1200

Unit 2 Floor 2: 3 bedrooms 2 baths $0

Gross Income $14,400

Detailed Listing Description

This offering consists of a well maintained, two unit, owner occupied building located on Webster Ave. at Orchard St., across the street from Oz Park. The first floor apartment is rented on a month to month basis and the second and third floors were converted to the owners unit in approximately 2001. This brick building has all separate utilities and the first floor apartment was renovated approximately three years ago with a new furnace, hot water heater and more. This is a turn key rental property but with tremendous renovation or redevelopment potential.

Additional Property Details

Garage & Parking
  • Gargage DetailsA
  • Gargage On SiteY
  • Gargage OwnershipA
  • Gargage TypeB
  • Number of Gargage Spaces2
  • ParkingG
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
  • Tenant Pays Unit 1B,C
  • Tenant Pays Unit 2A
  • Appliances Unit 1A,B,E,F,I,K,S
  • Appliances Unit 2A,B,C,D,E,F,I,K,N,P,S,U
  • 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 85% more than other 2 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 98% more than other 2 unit listings in this neighborhood.

Calculated Rents
Rental Income : Annual $14,400 Monthly $1,200
Rental Income Stabilized : Annual $57,420 Monthly $4,785
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$1,200$4,785
Year Total$14,400$57,420
Net Operating Income$-14,213$28,807
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Mortgage $18137 $50221 $68358 $5697
Total         $18,137 $50,221 $68,358   $-82,571 $18,137 $-64,434
Stabilized         $18,137 $50,221 $68,358   $-39,551 $18,137 $-21,414
Custom         $18137 $50221 $68358   $-39551 $18137 $-21414

MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments

Explore Nearby Neighborhoods

Portage ParkNearby Neighborhoods X Plus Real Estate

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Lincoln ParkNearby Neighborhoods X Plus Real Estate

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Irving ParkNearby Neighborhoods X Plus Real Estate

Irving Park

Listing Agent: Matthew Scuras
Listing Office: Jameson Commercial
522 W. Eugenie Chicago

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