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3 Flat 3538 Lowell Irving Park Chicago IL Mu Inve

City: CHICAGO ZIP: 60641

Built In: 1919

Lot Size: K

Lot Dimensions: 50X126

# of Units: 3

Unit 1 Floor L: 2 bedrooms 1 baths $650

Unit 2 Floor 1: 3 bedrooms 1 baths $950

Unit 3 Floor 2: 3 bedrooms 2 baths $1300

Detailed Listing Description

Is Old Irving Park where you want to be? How about walking distance to the Metra and Kilbourn Park? Welcome home to this impressive, legal 3 flat on a 50 foot wide lot for sale. Possibilities are endless with this property. Current rents are under market even with the units in their current condition. Slight improvements to the units and one can bump the rents significantly. Or duplex down and create a stunning owners unit. Top floor has 3 beds and 2 baths and would work as an owners unit as it is. Previous owners improved the building during their tenure. Cultivate the land and plant a garden on your own side yard. Parking for 4 cars, 2 in the current garage and 2 in the space adjacent. Possible redevelopment opportunity on these 2 over sized lots with separate PIN's though the current structure encroaches on both parcels. Come see the possibilities for yourself.

Additional Property Details

Garage & Parking
  • Gargage DetailsA,B
  • Gargage On SiteY
  • Gargage OwnershipA
  • Gargage TypeB
  • Number of Gargage Spaces2
  • ParkingG,S
  • Number of Parking Spaces2
  • Parking on SiteY
  • Parking OwnershipA
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B
  • Tenant Pays Unit 2B
  • Tenant Pays Unit 3B
Appliances
  • Appliances Unit 1A,B,J
  • Appliances Unit 2A,B,E,G,J,S,U
  • Appliances Unit 3B,E,G,J,S,U
Schools
  • Grade SchoolSCAMMON ELEMENTARY SCHOOL
  • Grade School District299
  • Jr High/Middle SchoolSCAMMON ELEMENTARY SCHOOL
  • Jr High/Middle School District299
  • High SchoolSCHURZ HIGH SCHOOL
  • High School District299

Comparative Data

Zip Code Comparison: 60641

Listings in this Zip Code average: 2 to 3 units, and are priced at $374,501 to $433,229
This listing is 27% more than other 3 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Irving Park

Listings in this Neighborhood average: 2 to 3 units, with average prices of $430,448 to $506,647
This listing is 9% more than other 3 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $34,800 Monthly $2,900
Rental Income Stabilized : Annual $51,600 Monthly $4,300
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$549,9003$183,3002.09%15.800.78%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$2,900$4,300
Year Total$34,800$51,600
Expense
Total$23,317$23,317
Net Operating Income$11,483$28,283
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $6654 $18424 $25078 $2090
Total         $6,654 $18,424 $25,078   $-13,595 $6,654 $-6,941
Stabilized         $6,654 $18,424 $25,078   $3,205 $6,654 $9,859
Custom         $6654 $18424 $25078   $3205 $6654 $9859




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1412,4252,0905431,5475431,5472,090
2411,8822,0905451,5451,0893,0914,180
3411,3362,0905471,5431,6364,6346,270
4410,7892,0905501,5402,1866,1748,360
5410,2392,0905521,5382,7377,71310,450
6409,6882,0905541,5363,2919,24912,540
7409,1342,0905561,5343,84710,78314,630
8408,5782,0905581,5324,40512,31516,720
9408,0202,0905601,5304,96513,84518,810
10407,4602,0905621,5285,52715,37320,900
11406,8982,0905641,5266,09116,89922,990
12406,3342,0905661,5246,65718,42325,080
13405,7682,0905681,5227,22519,94527,170

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Listing Agent: Stephen Johnson
Listing Office: Be Realty, LLC
4051 N. Kilbourn Ave. Chicago

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