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2 Flat 1921 Erie West Town Chicago IL Mu Investme

City: CHICAGO ZIP: 60622

Built In: 1887

Lot Size: Less Than .25 Acre

Lot Dimensions: 24X121

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 1 baths $2000

Unit 2 Floor 2: 3 bedrooms 1 baths $0

Detailed Listing Description

**ATTENTION DEVELOPERS/INVESTORS**GREAT OPPORTUNITY FOR NEW CONSTRUCTION/INVESTMENT IN THRIVING NEIGHBORHOOD WITH A STRONG RENTAL MARKET. LAND SQUARE FOOTAGE IS APPROXIMATELY 2,928 SQ. FT. TWO REAR PARKING SPACES CAN BE CONVERTED FOR FUTURE GARAGE BUILD OUT. **PROPERTY SOLD AS-IS**

Additional Property Details

Garage & Parking
  • ParkingSpace/s,
  • Number of Parking Spaces2
  • Parking on SiteYes
  • Parking OwnershipOwned
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1Gas, Heat,
  • Tenant Pays Unit 2Other,
Appliances
  • Appliances Unit 1Stove, Refrigerator, Washer, Dryer, Central Air Conditioner, Laundry Hook-Up,
  • 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 7% 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 16% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $24,000 Monthly $2,000
Rental Income Stabilized : Annual $44,580 Monthly $3,715
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$500,0002$250,0001.46%20.830.74%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$2,000$3,715
Year Total$24,000$44,580
Expense
Total$16,697$16,697
Net Operating Income$7,303$27,883
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $6050 $16752 $22802 $1901
Total         $6,050 $16,752 $22,802   $-15,499 $6,050 $-9,449
Stabilized         $6,050 $16,752 $22,802   $5,081 $6,050 $11,131
Custom         $6050 $16752 $22802   $5081 $6050 $11131




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1375,0001,9014951,4064951,4061,901
2374,5051,9014971,4049912,8113,802
3374,0091,9014981,4031,4904,2135,703
4373,5101,9015001,4011,9905,6147,604
5373,0101,9015021,3992,4927,0139,505
6372,5081,9015041,3972,9968,41011,406
7372,0041,9015061,3953,5029,80513,307
8371,4981,9015081,3934,01011,19815,208
9370,9901,9015101,3914,52012,58917,109
10370,4801,9015121,3895,03213,97819,010
11369,9681,9015141,3875,54515,36620,911
12369,4551,9015161,3856,06116,75122,812
13368,9391,9015171,3846,57818,13524,713

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Listing Agent: Mariano Santos
Listing Office: Homeland Realty, Inc.
5154 Weber Lane Skokie

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