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2159 Erie

City: CHICAGO ZIP: 60612

Built In: 1898

Lot Size: A

Lot Dimensions: 24.09X123.25

Lot Description: E

# of Units: 4

Unit 1 Floor 1: 2 bedrooms 1 baths $1325

Unit 2 Floor 1: 2 bedrooms 1 baths $1275

Unit 3 Floor 2: 1 bedrooms 1 baths $1300

Unit 4 Floor 2: 2 bedrooms 1 baths $1275

Gross Income $62,340

Net Op. Income $47,747

Detailed Listing Description

Well located Ukrainian Village Circa 1898 Wide, Expansive & Interesting Corner Brick 4 Unit with 2 car garage. Diverse floor plans with meaningful improvements offers solid investment opportunity for investor or end user. Unit break down: 1F was likely a storefront in a past life, offers soaring ceilings, open loft like layout, hardwood floors, 2 bedroom 1 bath. Unit 2F: Charming renovated 1 bedroom 1 bath, Modern Kitchen, dishwasher, central air. 1R: Set in semi stand alone single story structure connected to front 2 story building, funky yet functional 2 bedroom 1 bath with washer/dryer in unit. central air and eat in kitchen. Unit 2R; Clean & basic 2 bedroom 1 bath with direct access to roof over 1R that offers future exterior enhancement option. Full basement under 1R structure only. Roof 12-15 years old and maintained, Current Income $62,340. Building cash flows from list and offers perfect value add opportunity. See agent remarks for showing instructions and documents available.

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,E
  • Tenant Pays Unit 2B,C
  • Tenant Pays Unit 3B,C,I
  • Tenant Pays Unit 4B,C
Appliances
  • Appliances Unit 1A,B,E,F,J,N,S
  • Appliances Unit 2A,B,C,D,E,F,I,S
  • Appliances Unit 3A,B,E,F,I,S
  • Appliances Unit 4A,B,E,F,I,S
Schools
  • Grade SchoolMITCHELL ELEMENTARY SCHOOL
  • Grade School District299
  • Jr High/Middle School District299
  • High SchoolWELLS COMMUNITY ACADEMY SENIOR H
  • High School District299

Comparative Data

Zip Code Comparison: 60612

Listings in this Zip Code average: 2 to 3 units,

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 20% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $62,100 Monthly $5,175
Rental Income Stabilized : Annual $64,452 Monthly $5,371
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$825,0004$206,2504.41%13.290.65%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$5,175$5,371
Year Total$62,100$64,452
Expense
Total$25,731$25,731
Net Operating Income$36,369$38,721
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $9982 $27640 $37622 $3136
Total         $9,982 $27,640 $37,622   $-1,253 $9,982 $8,729
Stabilized         $9,982 $27,640 $37,622   $1,099 $9,982 $11,081
Custom         $9982 $27640 $37622   $1099 $9982 $11081




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1618,7503,1368162,3208162,3203,136
2617,9343,1368192,3171,6344,6386,272
3617,1163,1368222,3142,4566,9529,408
4616,2943,1368252,3113,2819,26312,544
5615,4693,1368282,3084,10911,57115,680
6614,6413,1368312,3054,94013,87618,816
7613,8103,1368342,3025,77416,17821,952
8612,9763,1368372,2996,61218,47625,088
9612,1383,1368402,2967,45220,77228,224
10611,2983,1368442,2928,29623,06431,360
11610,4543,1368472,2899,14325,35334,496
12609,6073,1368502,2869,99327,63937,632
13608,7573,1368532,28310,84629,92240,768

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Listing Agent: Karen Biazar
Listing Office: North Clybourn Group, Inc.
3105 W. Palmer #3 Chicago

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