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2 Flat 2906 Springfield Avondale Chicago IL Mu In

City: CHICAGO ZIP: 60618

Built In: 1910

Lot Size: A

Lot Dimensions: 25 X 128

Lot Description: X

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 1 baths $650

Unit 2 Floor 2: 2 bedrooms 1 baths $800

Detailed Listing Description

ATTENTION INVESTORS & DEVELOPERS! Easily torn down frame 2-flat on an extra-long 25x128 lot already zoned RT-4. This is an incredible investment opportunity in the appreciating West Avondale neighborhood. Close to the Blue Line and Kennedy Expressway 90/94. Being sold AS IS. Build a brand new 2 or 3-flat. Architect/owner drew up plans for a 3-flat that he is willing to sell in addition to the land.

Additional Property Details

Garage & Parking
  • ParkingS
  • Number of Parking Spaces4
  • Parking on SiteY
  • Parking OwnershipA
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B,C,D
  • Tenant Pays Unit 2B,C,D
Appliances
  • Appliances Unit 1A,B,F
  • Appliances Unit 2A,B,F
Schools
  • Grade SchoolLORCA ELEMENTARY SCHOOL
  • Grade School District299
  • Jr High/Middle SchoolLORCA ELEMENTARY SCHOOL
  • Jr High/Middle School District299
  • High SchoolSCHURZ HIGH SCHOOL
  • High School District299

Comparative Data

Zip Code Comparison: 60618

Listings in this Zip Code average: 2 to 3 units, and are priced at $481,048 to $587,571
This listing is 38% more than other 2 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Avondale

Listings in this Neighborhood average: 2 to 3 units, with average prices of $441,242 to $496,207
This listing is 32% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $17,400 Monthly $1,450
Rental Income Stabilized : Annual $35,196 Monthly $2,933
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$299,0002$149,5001.08%17.180.98%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$1,450$2,933
Year Total$17,400$35,196
Expense
Total$14,175$14,175
Net Operating Income$3,225$21,021
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $3618 $10018 $13636 $1137
Total         $3,618 $10,018 $13,636   $-10,411 $3,618 $-6,793
Stabilized         $3,618 $10,018 $13,636   $7,385 $3,618 $11,003
Custom         $3618 $10018 $13636   $7385 $3618 $11003




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1224,2501,1372968412968411,137
2223,9541,1372978405931,6812,274
3223,6571,1372988398922,5193,411
4223,3581,1372998381,1913,3574,548
5223,0591,1373018361,4914,1945,685
6222,7591,1373028351,7935,0296,822
7222,4571,1373038342,0965,8637,959
8222,1541,1373048332,4006,6969,096
9221,8501,1373058322,7057,52810,233
10221,5451,1373068313,0118,35911,370
11221,2391,1373078303,3189,18912,507
12220,9321,1373098283,62710,01713,644
13220,6231,1373108273,93710,84414,781

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Listing Agent: Chris Stockwell
Listing Office: Compass
1839 N. Sheffield Ave. #2N Chicago

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