4 Flat 3624 Racine Lake View Chicago IL Mu Invest| Chicago Property Listings – X Plus Real Estate

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4 Flat 3624 Racine Lake View Chicago IL Mu Invest

City: CHICAGO ZIP: 60613

Built In: 1911

Lot Size: K

Lot Dimensions: 30 X 125

# of Units: 4

Unit 1 Floor 1: 3 bedrooms 1 baths $1975

Unit 2 Floor 2: 3 bedrooms 1 baths $2100

Unit 3 Floor L: 1 bedrooms 1 baths $1400

Unit 4 Floor L: 1 bedrooms 1 baths $995

Gross Income $80,340

Net Op. Income $53,813

Detailed Listing Description

Great investment. 6.3% CAP RATE. Brick two flat ++. Views of Wrigley Field on 30' x 125' oversized lot. Quiet residential block in highly desirable Blaine school district. Keep as investment property or convert to single family. Due to wide lot units have spacious bedrooms, kitchens, living and dining areas. 2nd floor Kitchen is large enough to have an add additional bath or bedroom. Hardwood floors and original woodwork throughout. Three bedroom units, above, are under market value and could easily fetch more rent. Three bedroom units utilities are paid by tenants. 3 parking spots including two car garage and additional parking pad. New overhead sewers 2017. New windows 2009. Hardwood floors throughout. Located in the most desirable part of Wrigleyville. Steps to Wrigley Field, Metra, Red line and Addison & Clark buses. Zoned R-3. Motivated seller.

Additional Property Details

Garage & Parking
  • Gargage On SiteY
  • Gargage OwnershipD
  • Gargage TypeB
  • Number of Gargage Spaces2
  • ParkingG,S
  • Number of Parking Spaces1
  • Parking on SiteY
  • Parking OwnershipD
  • Parking Fee/Lease Amount100
Utilities
  • Tenant Pays Unit 1B,C,I
  • Tenant Pays Unit 2B,C,I
  • Tenant Pays Unit 3E
  • Tenant Pays Unit 4J
Appliances
  • Appliances Unit 1A,B,E
  • Appliances Unit 2A,B
  • Appliances Unit 3A,B
  • Appliances Unit 4A,B
Schools
  • Grade SchoolBlaine Elementary School
  • Grade School District299
  • Jr High/Middle School District299
  • High SchoolLake View High School
  • High School District299

Comparative Data

Zip Code Comparison: 60613

Listings in this Zip Code average: 2 to 3 units, and are priced at $750,873 to $1,005,200
This listing is 23% 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 50% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $77,640 Monthly $6,470
Rental Income Stabilized : Annual $80,604 Monthly $6,717
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$849,0004$212,2504.73%10.940.79%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$6,470$6,717
Year Total$77,640$80,604
Expense
Total$37,463$37,463
Net Operating Income$40,177$43,141
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $10273 $28444 $38717 $3227
Total         $10,273 $28,444 $38,717   $1,460 $10,273 $11,733
Stabilized         $10,273 $28,444 $38,717   $4,424 $10,273 $14,697
Custom         $10273 $28444 $38717   $4424 $10273 $14697




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1636,7503,2278392,3888392,3883,227
2635,9113,2278422,3851,6824,7726,454
3635,0683,2278452,3822,5277,1549,681
4634,2233,2278492,3783,3769,53212,908
5633,3743,2278522,3754,22811,90716,135
6632,5223,2278552,3725,08314,27919,362
7631,6673,2278582,3695,94116,64822,589
8630,8093,2278612,3666,80219,01425,816
9629,9483,2278652,3627,66721,37629,043
10629,0833,2278682,3598,53523,73532,270
11628,2153,2278712,3569,40626,09135,497
12627,3443,2278742,35310,28128,44338,724
13626,4693,2278782,34911,15830,79341,951

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Listing Agent: Carolyn Anavi
Listing Office: Live Here Chicago
600 S Washington Park Ridge

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