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2 Flat 1636 Claremont West Town Chicago IL Mu Inv

City: CHICAGO ZIP: 60647

Built In: 1894

Lot Size: Standard Chicago Lot

Lot Dimensions: 25 X 125

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 1 baths $1900

Unit 2 Floor 2: 3 bedrooms 1 baths $2250

Detailed Listing Description

Perfectly located, well maintained 2-flat located in Bucktown. Units are in very good condition and rental price was increased for both units this Spring. BRAND NEW ROOF. The building also has has great potential to remodel and convert to single family home. Twin bldg attached on one side (1632 N Claremont - same OOR*) has been converted to single family home. 25x125 lot. Each unit has a separate and private entrance with a massive deck on the rear. Quiet tree lined street has ample free parking and steps from 2 blue line stops. Massive yard with room for garage or car pad. Unit 1 lease exp.: August 31, 2019 / Unit 2 lease exp.: May 31, 2019. Unfinished basement has 7' ceilings and houses laundry for both units.

Additional Property Details

Garage & Parking
  • ParkingNone,
  • 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, Window Air Conditioner, Hardwood Floors, Skylights/Windows, Walk-In Closet,
  • Appliances Unit 2Stove, Refrigerator, Dishwasher, Window Air Conditioner, Fireplace-Artificial, Hardwood Floors, Skylights/Windows, Walk-In Closet,
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60647

Listings in this Zip Code average: 2 to 3 units, and are priced at $518,344 to $620,208
This listing is 35% 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 17% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $49,800 Monthly $4,150
Rental Income Stabilized : Annual $38,016 Monthly $3,168
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$700,0002$350,0004.42%14.060.45%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$4,150$3,168
Year Total$49,800$38,016
Expense
Total$18,859$18,859
Net Operating Income$30,941$19,157
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $8470 $23452 $31922 $2661
Total         $8,470 $23,452 $31,922   $-981 $8,470 $7,489
Stabilized         $8,470 $23,452 $31,922   $-12,765 $8,470 $-4,295
Custom         $8470 $23452 $31922   $-12765 $8470 $-4295




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1525,0002,6616921,9696921,9692,661
2524,3082,6616951,9661,3873,9355,322
3523,6132,6616971,9642,0855,8987,983
4522,9152,6617001,9612,7857,85910,644
5522,2152,6617031,9583,4879,81813,305
6521,5132,6617051,9564,19311,77315,966
7520,8072,6617081,9534,90113,72618,627
8520,0992,6617111,9505,61115,67721,288
9519,3892,6617131,9486,32517,62423,949
10518,6752,6617161,9457,04019,57026,610
11517,9602,6617191,9427,75921,51229,271
12517,2412,6617211,9408,48023,45231,932
13516,5202,6617241,9379,20525,38834,593

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Listing Agent: Angela Ellis
Listing Office: Main Street Real Estate Group
1519 S Peoria Chicago

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