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4 Flat 504 Wisconsin Lincoln Park Chicago IL Mu I

City: CHICAGO ZIP: 60614

Built In: 1889

Lot Size: A

Lot Dimensions: 25 X 74

Lot Description: H

# of Units: 4

Unit 1 Floor 1: 2 bedrooms 1 baths $1650

Unit 2 Floor 2: 2 bedrooms 1 baths $1750

Unit 3 Floor 3: 1 bedrooms 1 baths $1100

Unit 4 Floor 3: 1 bedrooms 1 baths $950

Gross Income $65,400

Net Op. Income $55,100

Detailed Listing Description

Amazing investment opportunity in the heart of Old Town. This 4 unit property is on the market for the first time in over 30 years. This building features newer porches, updated windows, water heater, tuck pointing and roof. Two 2 bedroom/1 bath units with porches and wood burning fireplaces. Two 1 bedroom/ 1 bath duplex up units with wood burning fireplaces. Common patio and backyard. Fantastic location and idyllic setting overlooking the park. Update units for increased revenue potential or convert to spectacular owners unit with income. Tenants pay electric/heat.

Additional Property Details

Garage & Parking
  • ParkingN
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B,D
  • Tenant Pays Unit 2B,D
  • Tenant Pays Unit 3B,D
  • Tenant Pays Unit 4B,D
Appliances
  • Appliances Unit 1A,B,E,J,M
  • Appliances Unit 2A,B,E,J,M
  • Appliances Unit 3A,B,J,M,R
  • Appliances Unit 4A,B,J,M,R
Schools
  • Grade SchoolLINCOLN ELEMENTARY SCHOOL
  • Grade School District299
  • Jr High/Middle SchoolLINCOLN ELEMENTARY SCHOOL
  • 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 32% 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 37% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $65,400 Monthly $5,450
Rental Income Stabilized : Annual $89,172 Monthly $7,431
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$990,0004$247,5003.02%15.140.75%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$5,450$7,431
Year Total$65,400$89,172
Expense
Total$35,507$35,507
Net Operating Income$29,893$53,665
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $11979 $33168 $45147 $3763
Total         $11,979 $33,168 $45,147   $-15,254 $11,979 $-3,275
Stabilized         $11,979 $33,168 $45,147   $8,518 $11,979 $20,497
Custom         $11979 $33168 $45147   $8518 $11979 $20497




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1742,5003,7639792,7849792,7843,763
2741,5213,7639822,7811,9615,5657,526
3740,5393,7639862,7772,9478,34211,289
4739,5533,7639902,7733,93711,11515,052
5738,5633,7639932,7704,93013,88518,815
6737,5703,7639972,7665,92716,65122,578
7736,5733,7631,0012,7626,92819,41326,341
8735,5723,7631,0052,7587,93322,17130,104
9734,5673,7631,0082,7558,94124,92633,867
10733,5593,7631,0122,7519,95327,67737,630
11732,5473,7631,0162,74710,96930,42441,393
12731,5313,7631,0202,74311,98933,16745,156
13730,5113,7631,0242,73913,01235,90748,919

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Listing Agent: Mark Jak
Listing Office: @properties
4855 N. Bell Ave. Chicago

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