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4 Flat 1917 Larrabee Lincoln Park Chicago IL Mu I

City: CHICAGO ZIP: 60614

Built In: 1883

Lot Size: L

Lot Dimensions: 25X125

# of Units: 4

Unit 1 Floor G: 3 bedrooms 2 baths $2950

Unit 2 Floor 1: 3 bedrooms 2 baths $3395

Unit 3 Floor 2: 3 bedrooms 2 baths $3595

Unit 4 Floor 3: 3 bedrooms 2 baths $3995

Gross Income $17,322

Net Op. Income $14,612

Detailed Listing Description

Gorgeous East Lincoln Park legal 4-flat offers a once in a lifetime opportunity in one of Chicago's most sought-after neighborhoods! The building has been completely renovated in the last 5 years and boasts a luxurious owner's unit with a jetted tub, heated floors, granite countertops, and high-end appliances including Sub-Zero, Bosch, and Miele. Tenant units are all condo-quality with quartz countertops, in-unit W/D, central a/c, and high ceilings. Located just blocks from the lake, Lincoln Park Zoo, shopping, dining, and in the Lincoln School District! Excellent opportunity for investment, owner/operator, or condo conversion. Priced at a 5.9 Cap Rate. All leases have 90-day kick-out clause in place.

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Additional Property Details

Garage & Parking
  • Gargage DetailsB
  • Gargage On SiteY
  • Gargage OwnershipA
  • Gargage TypeB
  • Number of Gargage Spaces2
  • ParkingG
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B,C,D
  • Tenant Pays Unit 2B,C,D
  • Tenant Pays Unit 3B,C,D
  • Tenant Pays Unit 4B,C,D
Appliances
  • Appliances Unit 1A,B,C,D,E,F,I,P
  • Appliances Unit 2A,B,C,D,E,F,I,P
  • Appliances Unit 3A,B,C,D,E,F,I,P
  • Appliances Unit 4A,B,C,D,E,F,I,P,Q
Schools
  • Grade SchoolLINCOLN ELEMENTARY SCHOOL
  • Grade School District299
  • 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 71% more than other 4 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 60% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $167,220 Monthly $13,935
Rental Income Stabilized : Annual $170,544 Monthly $14,212
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$2,499,9994$625,0004.83%14.950.57%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$13,935$14,212
Year Total$167,220$170,544
Expense
Total$46,516$46,516
Net Operating Income$120,704$124,028
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $30249 $83757 $114006 $9501
Total         $30,249 $83,757 $114,006   $6,698 $30,249 $36,947
Stabilized         $30,249 $83,757 $114,006   $10,022 $30,249 $40,271
Custom         $30249 $83757 $114006   $10022 $30249 $40271




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
11,875,0009,5012,4707,0312,4707,0319,501
21,872,5309,5012,4797,0224,94914,05319,002
31,870,0519,5012,4887,0137,43721,06628,503
41,867,5639,5012,4987,0039,93528,06938,004
51,865,0659,5012,5076,99412,44235,06347,505
61,862,5589,5012,5166,98514,95842,04857,006
71,860,0429,5012,5266,97517,48449,02366,507
81,857,5169,5012,5356,96620,01955,98976,008
91,854,9819,5012,5456,95622,56462,94585,509
101,852,4369,5012,5546,94725,11869,89295,010
111,849,8829,5012,5646,93727,68276,829104,511
121,847,3189,5012,5746,92730,25683,756114,012
131,844,7449,5012,5836,91832,83990,674123,513

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