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1431 Cleaver

City: CHICAGO ZIP: 60642

Built In: 1996

Lot Size: L

Lot Dimensions: 25X125

# of Units: 4

Unit 1 Floor G: 2 bedrooms 1 baths $1300

Unit 2 Floor 1: 3 bedrooms 2 baths $1950

Unit 3 Floor 2: 3 bedrooms 2 baths $2200

Unit 4 Floor 3: 3 bedrooms 2 baths $2125

Detailed Listing Description

Incredible opportunity to own a multi-unit building with condo quality units in Noble Square. All units have continuously been occupied, never a vacant month! Long term owner has maintained under market rent rolls. New owner can purchase, adjust the rent to market value and keep as-is or take on as a value add opportunity. Leases are staggered throughout the summer months (top floor just vacated!). Interior is in great condition - updated with hardwood floors, equal sized bedrooms, central a/c and heat, newer appliances/mechanicals & great natural light. Coin laundry on the basement level. Parking pad in the rear with 2 tandem spots not currently leased! Located on a quiet, residential street & exactly what tenants are looking for-close to downtown, Wicker Park & all West Town neighborhoods, Expressway, Super Target, Pulaski Park, restaurants/bars & Division blue "L" line. Central location within the city & close proximity to Lincoln Yards & Goose Island, a hub for new development

Additional Property Details

Garage & Parking
  • ParkingS
  • Number of Parking Spaces2
  • Parking on SiteY
  • Parking OwnershipN
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B,C,D
  • Tenant Pays Unit 2B,C,D
  • Tenant Pays Unit 3B,C,D
  • Tenant Pays Unit 4B,C,D
Appliances
  • Appliances Unit 1A,B,E,I
  • Appliances Unit 2A,B,E,I
  • Appliances Unit 3A,B,E,I
  • Appliances Unit 4A,B,E,I
Schools
  • Grade SchoolLOZANO ELEMENTARY SCHOOL BILINGU
  • Grade School District299
  • Jr High/Middle School District299
  • High SchoolWELLS COMMUNITY ACADEMY SENIOR H
  • High School District299

Comparative Data

Zip Code Comparison: 60642

Listings in this Zip Code average: 3 to 4 units, and are priced at $1,047,408 to $1,264,667
This listing is 17% more than other 4 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 1% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $90,900 Monthly $7,575
Rental Income Stabilized : Annual $146,820 Monthly $12,235
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$1,050,0004$262,5005.56%11.551.17%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$7,575$12,235
Year Total$90,900$146,820
Expense
Total$32,531$32,531
Net Operating Income$58,369$114,289
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $12705 $35178 $47883 $3991
Total         $12,705 $35,178 $47,883   $10,486 $12,705 $23,191
Stabilized         $12,705 $35,178 $47,883   $66,406 $12,705 $79,111
Custom         $12705 $35178 $47883   $66406 $12705 $79111




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1787,5003,9911,0382,9531,0382,9533,991
2786,4623,9911,0422,9492,0805,9027,982
3785,4203,9911,0462,9453,1258,84811,973
4784,3753,9911,0502,9414,17511,78915,964
5783,3253,9911,0542,9375,22814,72719,955
6782,2723,9911,0572,9346,28617,66023,946
7781,2143,9911,0612,9307,34720,59027,937
8780,1533,9911,0652,9268,41323,51531,928
9779,0873,9911,0692,9229,48226,43735,919
10778,0183,9911,0732,91810,55629,35439,910
11776,9443,9911,0772,91411,63332,26843,901
12775,8673,9911,0812,91012,71535,17747,892
13774,7853,9911,0862,90513,80038,08351,883

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Listing Agent: Kelly Parker
Listing Office: Compass
2237 W. Madison St. #7 Chicago

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