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3 Flat 2024 Clifton Lincoln Park Chicago IL Mu In

City: CHICAGO ZIP: 60614

Built In: U

Lot Size: L

Lot Dimensions: 25 X 124

Lot Description: H,N

# of Units: 3

Unit 1 Floor 1: 2 bedrooms 1 baths $2400

Unit 2 Floor 2: 3 bedrooms 1 baths $3600

Unit 3 Floor C: 1 bedrooms 1 baths $2400

Detailed Listing Description

THIS TURNKEY PROPERTY IS HIGHLY DESIRABLE AND UNIQUE IN THE MARKETPLACE. IDEALLY LOCATED ON ONE OF LINCOLN PARK'S PREMIER ONE WAY STREETS RIGHT OFF OF ARMITAGE, THIS HANDSOME, ALL BRICK, LEGAL 3-UNIT PROPERTY IS COMPRISED OF A 2-UNIT BUILDING IN FRONT AND A COACH HOUSE IN BACK. ENTIRE COMPOUND IS IN PRISTINE CONDITION AND HAS BEEN METICULOUSLY MAINTAINED. FEATURES INCLUDE NEW ROOF, FULL TUCKPOINTING AND NEW DECKS. UNIT #2 HAS BEEN GUT REHABBED AND UNIT #1 IS SIGNIFICANTLY UPGRADED. THE COACH HOUSE LIVES LIKE A SINGLE FAMILY HOME. FURNACES, CONDENSERS AND WASHERS/DRYERS ARE ALL TOP OF THE LINE. BEAUTIFUL, PROFESSIONALLY LANDSCAPED FRONT AND BACK YARDS. 2-CAR GARAGE. THE PROPERTY IS FULLY RENTED AND CURRENTLY GENERATES A MONTHLY INCOME OF $8,400 FOR THE UNITS + $150 FOR EACH GARAGE SPACE FOR A TOTAL MONTHLY INCOME OF $8,700. ALTHOUGH THE PROPERTY TAXES ARE REASONABLE, THEY HAVE BEEN APPEALED AND ARE LIKELY TO BE REDUCED.

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 1B,C
  • Tenant Pays Unit 2B,C
  • Tenant Pays Unit 3B,C
Appliances
  • Appliances Unit 1A,B,E,F,G,I,M,S
  • Appliances Unit 2A,B,E,F,G,I,M,S,U
  • Appliances Unit 3A,B,C,D,E,F,G,I,S,T,U
Schools
  • Grade SchoolOSCAR MAYER ELEMENTARY SCHOOL
  • Grade School District299
  • Jr High/Middle SchoolOSCAR MAYER ELEMENTARY SCHOOL
  • Jr High/Middle School District299
  • 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 18% more than other 3 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 10% more than other 3 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $100,800 Monthly $8,400
Rental Income Stabilized : Annual $80,412 Monthly $6,701
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$1,649,0003$549,6673.67%16.360.41%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$8,400$6,701
Year Total$100,800$80,412
Expense
Total$40,332$40,332
Net Operating Income$60,468$40,080
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $19952 $55246 $75198 $6267
Total         $19,952 $55,246 $75,198   $-14,730 $19,952 $5,222
Stabilized         $19,952 $55,246 $75,198   $-35,118 $19,952 $-15,166
Custom         $19952 $55246 $75198   $-35118 $19952 $-15166




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
11,236,7506,2671,6294,6381,6294,6386,267
21,235,1216,2671,6354,6323,2649,27012,534
31,233,4866,2671,6414,6264,90613,89518,801
41,231,8446,2671,6484,6196,55318,51525,068
51,230,1976,2671,6544,6138,20723,12831,335
61,228,5436,2671,6604,6079,86727,73537,602
71,226,8836,2671,6664,60111,53332,33643,869
81,225,2176,2671,6724,59513,20636,93050,136
91,223,5446,2671,6794,58814,88541,51856,403
101,221,8656,2671,6854,58216,57046,10062,670
111,220,1806,2671,6914,57618,26150,67668,937
121,218,4896,2671,6984,56919,95955,24575,204
131,216,7916,2671,7044,56321,66359,80881,471

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Listing Agent: Ian Schwartz
Listing Office: Coldwell Banker Residential
2022 North Clifton Chicago

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