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3 Flat 1632 Claremont West Town Chicago IL Mu Inv

City: CHICAGO ZIP: 60647

Built In: 1894

Lot Size: .25-.49 Acre

Lot Dimensions: 50 X 125

Lot Description: Fenced Yard,

# of Units: 3

Unit 1 Floor 1: 2 bedrooms 1 baths $1900

Unit 2 Floor 2: 3 bedrooms 1 baths $2250

Unit 3 Floor 1: 4 bedrooms 3 baths $0

Detailed Listing Description

Beautiful, massive Queen Ann building on a full double lot in Bucktown. Rare opportunity for great investment and/or owner-occupied opportunity. 1632 is a converted single family (4 bd (one below grade) / 3.1 bathrooms) with an open floor plan. 1636 is a well maintained 2-flat and currently rented to tenants in both units. New roof was installed in 2017 and new windows were installed around 2014. Both sides of the building are separate parcels: 1632 (PIN: 14313260720000) and 1636 (PIN: 14313260710000). Each unit has a separate and private entrance with massive decks on the rear. Quiet tree lined street has ample free parking for 1636 (additionally, the yard is massive with ample room for garage or car pad install). 1632 has a 2 car garage. 1636: Unit 1 lease exp.: August 31, 2019 / Unit 2 lease exp.: May 31, 2019.

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
  • Tenant Pays Unit 1Electric, Gas, Heat,
  • Tenant Pays Unit 2Electric, Gas, Heat,
  • Tenant Pays Unit 3All,
  • 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,
  • Appliances Unit 3Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Disposal, Central Air Conditioner, Garage/Space, Range Hood, Hardwood Floors, Skylights/Windows, Walk-In Closet, Oven/Built-in,
  • 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 150% more than other 3 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 77% more than other 3 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
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$4,150$3,168
Year Total$49,800$38,016
Net Operating Income$11,696$-88
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Mortgage $18754 $51929 $70683 $5891
Total         $18,754 $51,929 $70,683   $-58,987 $18,754 $-40,233
Stabilized         $18,754 $51,929 $70,683   $-70,771 $18,754 $-52,017
Custom         $18754 $51929 $70683   $-70771 $18754 $-52017

MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments

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

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