4 Flat 3051 Racine Lake View Chicago IL Mu Invest| Chicago Property Listings – X Plus Real Estate

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4 Flat 3051 Racine Lake View Chicago IL Mu Invest

City: CHICAGO ZIP: 60657

Built In: 1892

Lot Size: A

Lot Dimensions: 25 X 121

# of Units: 4

Unit 1 Floor 1: 1 bedrooms 1 baths $1175

Unit 2 Floor 2: 1 bedrooms 1 baths $1325

Unit 3 Floor 3: 1 bedrooms 1 baths $1350

Unit 4 Floor 1: 2 bedrooms 1 baths $1640

Gross Income $81,780

Net Op. Income $57,780

Detailed Listing Description

Amazing Add-Value opportunity in Lakeview! Legal Brick 4 units PLUS bonus in law garden (TOTAL 5 units) in an A+ location that's perfect for investors or owner occupants. Four apartments, (3) good sized 1 beds and (1) 2 bed garden in the front building & a separate 2 story coach house. The coach house is currently completely GUTTED to the studs...and is waiting for full Re-DO. All separate heat and tenant paid utilities. Steps from shopping, bars, restaurants, transportation, EL and more!

Additional Property Details

Garage & Parking
  • ParkingN
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B,C
  • Tenant Pays Unit 2B,C
  • Tenant Pays Unit 3B,C
  • Tenant Pays Unit 4B,C
Appliances
  • Appliances Unit 1A,B,I,S
  • Appliances Unit 2A,B,I,S
  • Appliances Unit 3A,B
  • Appliances Unit 4A,B
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60657

Listings in this Zip Code average: 3 to 4 units, and are priced at $1,088,824 to $1,836,727
This listing is 46% more than other 4 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Lake View

Listings in this Neighborhood average: 3 to 4 units, with average prices of $1,039,522 to $1,694,786
This listing is 41% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $65,880 Monthly $5,490
Rental Income Stabilized : Annual $76,104 Monthly $6,342
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$999,0004$249,7502.86%15.160.63%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$5,490$6,342
Year Total$65,880$76,104
Expense
Total$37,262$37,262
Net Operating Income$28,618$38,842
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $12088 $33469 $45557 $3797
Total         $12,088 $33,469 $45,557   $-16,939 $12,088 $-4,851
Stabilized         $12,088 $33,469 $45,557   $-6,715 $12,088 $5,373
Custom         $12088 $33469 $45557   $-6715 $12088 $5373




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1749,2503,7979872,8109872,8103,797
2748,2633,7979912,8061,9785,6167,594
3747,2723,7979952,8022,9738,41811,391
4746,2773,7979982,7993,97211,21615,188
5745,2783,7971,0022,7954,97414,01118,985
6744,2763,7971,0062,7915,98016,80222,782
7743,2703,7971,0102,7876,98919,59026,579
8742,2613,7971,0142,7838,00322,37330,376
9741,2473,7971,0172,7809,02025,15334,173
10740,2303,7971,0212,77610,04127,92937,970
11739,2093,7971,0252,77211,06630,70141,767
12738,1843,7971,0292,76812,09533,46945,564
13737,1553,7971,0332,76413,12836,23349,361

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Listing Agent: Thomas Moran
Listing Office: @properties
739 10th St. Wilmette

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