2 Flat 2670 Burling Lincoln Park Chicago IL Mu In| Chicago Property Listings – X Plus Real Estate

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2 Flat 2670 Burling Lincoln Park Chicago IL Mu In

City: CHICAGO ZIP: 60614

Built In: 1891

Lot Size: A

Lot Dimensions: 25 X 105

Lot Description: H

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 1 baths $1450

Unit 2 Floor 1: 2 bedrooms 1 baths $1450

Gross Income $34,800

Detailed Listing Description

DEVELOPERS & BUYERS LOOKING FOR AN EXCEPTIONAL OPPORTUNITY TO BUILD A SINGLE FAMILY HOME OR FOUR-UNIT HIGHEND CONDOMINIUM ON A 50' x 105'. OR TWO BUILDINGS ON TWO SINGLE LOTS (SOLD IN CONJUNCTION WITH 2668 N BURLING) CURRENTLY BOTH UNITS ARE OCCUPPIED BY TENANTS. THIS CAN CONTINUE DURING CONSTRUCTION PLANNING PHASE (BY TENANT OR CURRENT OWNER). DEFINITELY A TEARDOWN TO MAXIMIZE RETURN. SEE MLS LISTINGS FOR 2668 & 2672 FOR CONTIGUOUS PROPERTIES ALSO BEING SOLD. DRIVE BY. NEED PRIOR DAY NOTICE FOR SHOWINGS.

Additional Property Details

Garage & Parking
  • ParkingS
  • Number of Parking Spaces3
  • Parking on SiteY
  • Parking OwnershipA
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B,C,D,E
  • Tenant Pays Unit 2B,C,D,E
Appliances
  • Appliances Unit 1A,B,E,F,I,K,S
  • Appliances Unit 2A,B,E,F,I,K,S
Schools
  • Grade SchoolALCOTT ELEMENTARY SCHOOL
  • Grade School District299
  • 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 36% more than other 2 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 45% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $34,800 Monthly $2,900
Rental Income Stabilized : Annual $48,744 Monthly $4,062
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$1,100,0002$550,0001.15%31.610.37%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$2,900$4,062
Year Total$34,800$48,744
Expense
Total$22,137$22,137
Net Operating Income$12,663$26,607
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $13310 $36853 $50163 $4181
Total         $13,310 $36,853 $50,163   $-37,500 $13,310 $-24,190
Stabilized         $13,310 $36,853 $50,163   $-23,556 $13,310 $-10,246
Custom         $13310 $36853 $50163   $-23556 $13310 $-10246




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1825,0004,1811,0873,0941,0873,0944,181
2823,9134,1811,0913,0902,1796,1838,362
3822,8214,1811,0953,0863,2749,26912,543
4821,7264,1811,1003,0814,37412,35016,724
5820,6264,1811,1043,0775,47715,42820,905
6819,5234,1811,1083,0736,58518,50125,086
7818,4154,1811,1123,0697,69721,57029,267
8817,3034,1811,1163,0658,81324,63533,448
9816,1874,1811,1203,0619,93327,69637,629
10815,0674,1811,1243,05711,05830,75241,810
11813,9424,1811,1293,05212,18733,80445,991
12812,8134,1811,1333,04813,31936,85350,172
13811,6814,1811,1373,04414,45739,89654,353

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Listing Agent: Peter Tortorello
Listing Office: Berkshire Hathaway HomeServices KoenigRubloff
1325 N State Pkwy, Unit 16B Chicago

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