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2 Flat 648 Webster Chi Lincoln Park Chicago IL

City: CHICAGO ZIP: 60614

Built In: 1886

Lot Size: Less Than .25 Acre

Lot Dimensions: 25 X 128

Lot Description: Fenced Yard, Park Adjacent,

# 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. Please call for additional details.

Additional Property Details

Garage & Parking
  • Gargage DetailsGarage Door Opener(s),
  • 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,
  • Tenant Pays Unit 2All,
Appliances
  • Appliances Unit 1Stove, Refrigerator, Dishwasher, Microwave, Central Air Conditioner, Fireplace-Artificial, Hardwood Floors,
  • Appliances Unit 2Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Central Air Conditioner, Fireplace-Artificial, Garage/Space, Laundry Hook-Up, Hardwood Floors, Walk-In Closet,
Schools
  • 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
$1,499,0002$749,500-0.95%104.100.32%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$1,200$4,785
Year Total$14,400$57,420
Expense
Total$28,613$28,613
Net Operating Income$-14,213$28,807
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
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
11,124,2505,6971,4814,2161,4814,2165,697
21,122,7695,6971,4874,2102,9688,42611,394
31,121,2825,6971,4924,2054,46012,63117,091
41,119,7905,6971,4984,1995,95816,83022,788
51,118,2925,6971,5034,1947,46121,02428,485
61,116,7895,6971,5094,1888,97025,21234,182
71,115,2805,6971,5154,18210,48529,39439,879
81,113,7655,6971,5204,17712,00533,57145,576
91,112,2455,6971,5264,17113,53137,74251,273
101,110,7195,6971,5324,16515,06341,90756,970
111,109,1875,6971,5384,15916,60146,06662,667
121,107,6495,6971,5434,15418,14450,22068,364
131,106,1065,6971,5494,14819,69354,36874,061

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

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