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2 Flat 2321 Cortez West Town Chicago IL Mu Invest

City: CHICAGO ZIP: 60622

Built In: 1909

Lot Size: A

Lot Dimensions: 33 X 125

# of Units: 2

Unit 1 Floor 1: 3 bedrooms 1 baths $OWNR

Unit 2 Floor 2: 3 bedrooms 1 baths $750

Gross Income $9,000

Detailed Listing Description

Rare Ukrainian Village 2-flat on great block with excellent curb appeal. All brick building with fully landscaped backyard and 2 car garage sits on an oversized 33 wide lot. First floor kitchen and bath tastefully redone in 09' to match vintage details throughout. First floor interior staircase leads to an unfinished basement with over 7 foot ceilings. Great candidate for SFH conversion. 2nd floor all original finishes with long term tenant. Recent Upgrades - 2009: new Marvin windows (1st floor) 2010: glass block windows (basement), new roof (tear off), new water heaters (1st & 2nd floors), 2011: flood control system installed, updated electrical. 2013: New garage door, concrete sidewalk in backyard. See floorplan under additional info

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Additional Property Details

Garage & Parking
  • Gargage DetailsA
  • 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,F,H
  • Tenant Pays Unit 2B,C,D
Appliances
  • Appliances Unit 1A,B,E,F,I
  • Appliances Unit 2A,B,F,S
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 49% 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 34% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $28,992 Monthly $2,416
Rental Income Stabilized : Annual $44,376 Monthly $3,698
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$799,9992$400,0001.03%27.590.46%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$2,416$3,698
Year Total$28,992$44,376
Expense
Total$20,765$20,765
Net Operating Income$8,227$23,611
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $9680 $26802 $36482 $3041
Total         $9,680 $26,802 $36,482   $-28,255 $9,680 $-18,575
Stabilized         $9,680 $26,802 $36,482   $-12,871 $9,680 $-3,191
Custom         $9680 $26802 $36482   $-12871 $9680 $-3191




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1600,0003,0417912,2507912,2503,041
2599,2093,0417942,2471,5854,4976,082
3598,4153,0417972,2442,3826,7419,123
4597,6183,0418002,2413,1828,98212,164
5596,8183,0418032,2383,98511,22015,205
6596,0153,0418062,2354,79113,45518,246
7595,2093,0418092,2325,60015,68721,287
8594,4003,0418122,2296,41217,91624,328
9593,5883,0418152,2267,22720,14227,369
10592,7733,0418182,2238,04522,36530,410
11591,9553,0418212,2208,86624,58533,451
12591,1343,0418242,2179,69026,80236,492
13590,3103,0418272,21410,51829,01539,533

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