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2 Flat 640 Belden Lincoln Park Chicago IL Mu Inve

City: CHICAGO ZIP: 60614

Built In: 1886

Lot Size: K

Lot Dimensions: 25X134

# of Units: 2

Unit 1 Floor 1: 3 bedrooms 1 baths $0

Unit 2 Floor 2: 3 bedrooms 1 baths $0

Detailed Listing Description

Incredible opportunity to renovate this extra-wide, stately greystone on quiet, tree-lined Belden in the Lincoln School District and easy walking distance to Parker. Perfect for a buyer looking to customize their own home or for an astute spec developer. The building is 22 feet wide and 81 feet deep allowing a 5,400 square foot home without an addition. Main level and second floor have over 10 foot ceilings and basement approximately 8 foot now. Advantageous RM5 zoning would allow a penthouse addition. Actual lot size is 25x134 and the garage features a lofted area above it. The current building has been in the same family for generations and needs a complete renovation. Orange rated and located in the Mid-North historic landmark district.

Additional Property Details

Garage & Parking
  • Gargage On SiteY
  • Gargage OwnershipA
  • Gargage TypeB
  • Number of Gargage Spaces2
  • ParkingG
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1J
  • Tenant Pays Unit 2J
Appliances
  • Appliances Unit 1A,B,M,N,S,T
  • Appliances Unit 2A,B,M,N,S,T
Schools
  • Grade SchoolLINCOLN ELEMENTARY SCHOOL
  • Grade School District299
  • Jr High/Middle SchoolLINCOLN ELEMENTARY SCHOOL
  • Jr High/Middle School District299
  • High SchoolLINCOLN PARK HIGH SCHOOL
  • 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.

This property provided no rental pricing information. Rents extrapolated from area average rental pric ing

Calculated Rents
Rental Income : Annual $43,450 Monthly $3,621
Rental Income Stabilized : Annual $54,312 Monthly $4,526
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$1,499,0002$749,5001.77%34.500.30%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$3,621$4,526
Year Total$43,450$54,312
Expense
Total$16,949$16,949
Net Operating Income$26,501$37,363
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   $-41,857 $18,137 $-23,720
Stabilized         $18,137 $50,221 $68,358   $-30,995 $18,137 $-12,858
Custom         $18137 $50221 $68358   $-30995 $18137 $-12858




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: Jeffrey Lowe
Listing Office: Compass
2461 N. Lincoln, #4N Chicago

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