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Price: $749,900

MLS #: 10452511

Status: Contingent

2 Flat 2321 Cortez West Town Chicago IL Mu Invest

City: Chicago ZIP: 60622

Built In: 1909

Lot Size: A

Lot Dimensions: 33 X 125

# of Units: 2

Unit 1 Floor 1: 3 bedrooms 1 baths $OWNR

Unit 2 Floor 2: 3 bedrooms 1 baths $750

Gross Income $9,000

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Previous Listing

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Detailed Listing Description

Rare Ukrainian Village 2-flat on great block with excellent curb appeal. All brick building with fully landscaped backyard and 2 car garage sits on an oversized 33 wide lot. First floor kitchen and bath tastefully redone in 09' to match vintage details throughout. First floor interior staircase leads to an unfinished basement with over 7 foot ceilings. Great candidate for SFH conversion. 2nd floor all original finishes with long term tenant. Recent Upgrades - 2009: new Marvin windows (1st floor) 2010: glass block windows (basement), new roof (tear off), new water heaters (1st & 2nd floors), 2011: flood control system installed, updated electrical. 2013: New garage door, concrete sidewalk in backyard. See floorplan under additional info

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Property Details

Additional Property Details

Garage & Parking

Gargage DetailsA
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,D,F,H
Tenant Pays Unit 2B,C,D

Appliances

Appliances Unit 1A,B,E,F,I
Appliances Unit 2A,B,F,S

Schools

Grade School District299
Jr High/Middle School District299
High School District299

Comparative Data

Zip Code Comparison: 60622

Listings in this Zip Code average: 3 to 4 units, and are priced at $915,555 to $975,918
This listing is 40% more than other 2 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 25% more than other 2 unit listings in this neighborhood.

Investors

Calculated Rents
Rental Income : Annual $26,244 Monthly $2,187
Rental Income Stabilized : Annual $44,376 Monthly $3,698

Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized

$749,9002$374,9500.73%28.570.49%

Income

Unit TypeCurrent RateStabilized RateCustom Rate

Unit 1 :: Beds 3 Baths 1 Floor 1Tenant Pays:B,C,D,F,H

Unit 2 :: Beds 3 Baths 1 Floor 2Tenant Pays:B,C,D

Monthly Total$2,187$3,698

Year Total$26,244$44,376

Expense

Total$20,765$20,765

Net Operating Income$5,479$23,611

Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return

Down

Mortgage $9074 $25124 $34198 $2850

Total $9,074 $25,124 $34,198 $-28,719 $9,074 $-19,645

Stabilized $9,074 $25,124 $34,198 $-10,587 $9,074 $-1,513

Custom $9074 $25124 $34198 $-10587 $9074 $-1513

Month	Balance	Payment	Principal	Interest	Equity	Total Interest	Total Payments
1	562,425	2,850	741	2,109	741	2,109	2,850
2	561,684	2,850	744	2,106	1,485	4,215	5,700
3	560,940	2,850	746	2,104	2,231	6,319	8,550
4	560,194	2,850	749	2,101	2,980	8,420	11,400
5	559,445	2,850	752	2,098	3,732	10,518	14,250
6	558,693	2,850	755	2,095	4,487	12,613	17,100
7	557,938	2,850	758	2,092	5,245	14,705	19,950
8	557,180	2,850	761	2,089	6,006	16,794	22,800
9	556,419	2,850	763	2,087	6,769	18,881	25,650
10	555,656	2,850	766	2,084	7,535	20,965	28,500
11	554,890	2,850	769	2,081	8,305	23,045	31,350
12	554,120	2,850	772	2,078	9,077	25,123	34,200
13	553,348	2,850	775	2,075	9,852	27,198	37,050

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