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2 Flat 3021 Racine Lake View Chicago IL Mu Invest

City: CHICAGO ZIP: 60657

Built In: 1876

Lot Size: Less Than .25 Acre

Lot Dimensions: 2904

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 2 baths $1800

Unit 2 Floor 2: 3 bedrooms 2 baths $2700

Detailed Listing Description

Ever wanted a front yard in Lakeview? How about a second floor deck directly off your kitchen? This two-flat in south central Lakeview sits near the rear lot line, but leaves room for three parking spots off the alley. 3021 Racine is an excellent owner-occupant candidate. Live in the 2nd to 3rd floor 3 Bed/2 Bath duplex and rent out the 2 Bed / 2 Bath first floor to pay the bank. There's even a full length basement for storage and laundry. Download or request an offering memorandum for more information!

Additional Property Details

Garage & Parking
  • ParkingSpace/s,
  • Number of Parking Spaces3
  • Parking on SiteYes
  • Parking OwnershipOwned
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1Electric, Gas, Heat, Parking,
  • Tenant Pays Unit 2Electric, Gas, Heat, Parking,
Appliances
  • Appliances Unit 1Stove, Refrigerator, Dishwasher, Disposal, Central Air Conditioner, Hardwood Floors, Walk-In Closet,
  • Appliances Unit 2Stove, Refrigerator, Dishwasher, Disposal, Central Air Conditioner, Hardwood Floors, Skylights/Windows,
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60657

Listings in this Zip Code average: 3 to 4 units, and are priced at $1,088,824 to $1,836,727
This listing is 20% more than other 2 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Lake View

Listings in this Neighborhood average: 3 to 4 units, with average prices of $1,039,522 to $1,694,786
This listing is 21% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $54,000 Monthly $4,500
Rental Income Stabilized : Annual $63,636 Monthly $5,303
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$695,0002$347,5004.99%12.870.76%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$4,500$5,303
Year Total$54,000$63,636
Expense
Total$19,294$19,294
Net Operating Income$34,706$44,342
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $8409 $23285 $31694 $2642
Total         $8,409 $23,285 $31,694   $3,012 $8,409 $11,421
Stabilized         $8,409 $23,285 $31,694   $12,648 $8,409 $21,057
Custom         $8409 $23285 $31694   $12648 $8409 $21057




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1521,2502,6426871,9556871,9552,642
2520,5632,6426901,9521,3773,9075,284
3519,8732,6426921,9502,0705,8567,926
4519,1802,6426951,9472,7657,80310,568
5518,4852,6426981,9443,4629,74813,210
6517,7882,6427001,9424,16311,68915,852
7517,0872,6427031,9394,86613,62818,494
8516,3842,6427061,9365,57115,56521,136
9515,6792,6427081,9346,27917,49923,778
10514,9712,6427111,9316,99019,43026,420
11514,2602,6427141,9287,70421,35829,062
12513,5462,6427161,9268,42023,28431,704
13512,8302,6427191,9239,13925,20734,346

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Listing Agent: Thomas Hart
Listing Office: 33 Realty
3024 N. Racine Avenue, unit 2 Chicago

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