4 Flat 2037 Hutchinson North Center Chicago IL Mu| Chicago Property Listings – X Plus Real Estate

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4 Flat 2037 Hutchinson North Center Chicago IL Mu

City: CHICAGO ZIP: 60618

Built In: 1914

Lot Size: A

Lot Dimensions: 3,393

# of Units: 4

Unit 1 Floor G: 2 bedrooms 1 baths $1300

Unit 2 Floor 1: 2 bedrooms 1 baths $900

Unit 3 Floor 2: 1 bedrooms 1 baths $900

Unit 4 Floor 2: 1 bedrooms 1 baths $900

Gross Income $48,000

Net Op. Income $24,000

Detailed Listing Description

Come and see this desirable 4 unit brick building in North Center neighborhood. It won't last long. Walkable to supermarket, restaurants, entertainment, micro-brewery, theater, Old Town School of Music, Wells Park (indoor swimming pool), Sulzer Regional Library, CTA Bus routes & Brown Line. Walk to Lincoln Square and renowned Coonley Elem. and Lane Tech Schools. All units are rented and generate $48,000/year, far below market. Updated 2 bdrm garden apartment has, hardwood flrs, quartz counter tops, plentiful cabinets and pantry space. 1st flr is a spacious 2 bdrm apartment plus den, hardwood flrs, high ceilings, eat in kitchen. Second floor has a front Studio apartment with hardwood floors, balcony, and updated kitchen and bath. 2nd flr rear apartment has hardwood flrs, one bdrm plus den. Keep property as armchair investment or develop 2nd floor duplex to full attic creating a single family home space. 2.5 car unattached garage. New Roof 2014. Coin operated washer/dryer in bsmt.

Additional Property Details

Garage & Parking
  • Gargage DetailsA
  • Gargage On SiteY
  • Gargage OwnershipA
  • Gargage TypeB
  • Number of Gargage Spaces2.5
  • ParkingG
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B
  • Tenant Pays Unit 2B,C
  • Tenant Pays Unit 3B,C
  • Tenant Pays Unit 4B,C
Appliances
  • Appliances Unit 1A,B,E,F
  • Appliances Unit 2A,B,E
  • Appliances Unit 3A,B,F
  • Appliances Unit 4A,B
Schools
  • Grade SchoolCoonley Elementary School
  • Grade School District299
  • Jr High/Middle School District299
  • High SchoolLane Technical High School
  • High School District299

Comparative Data

Zip Code Comparison: 60618

Listings in this Zip Code average: 2 to 3 units, and are priced at $481,048 to $587,571
This listing is 15% more than other 4 unit listings in this zipcode.

Neighborhood Comparison:
CHI - North Center

Listings in this Neighborhood average: 2 to 3 units, with average prices of $652,145 to $788,113
This listing is 3% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $48,000 Monthly $4,000
Rental Income Stabilized : Annual $60,096 Monthly $5,008
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$937,0004$234,2501.32%19.520.53%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$4,000$5,008
Year Total$48,000$60,096
Expense
Total$35,649$35,649
Net Operating Income$12,351$24,447
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $11337 $31392 $42729 $3561
Total         $11,337 $31,392 $42,729   $-30,378 $11,337 $-19,041
Stabilized         $11,337 $31,392 $42,729   $-18,282 $11,337 $-6,945
Custom         $11337 $31392 $42729   $-18282 $11337 $-6945




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1702,7503,5619262,6359262,6353,561
2701,8243,5619292,6321,8555,2677,122
3700,8953,5619332,6282,7877,89610,683
4699,9633,5619362,6253,72410,52014,244
5699,0263,5619402,6214,66313,14217,805
6698,0873,5619432,6185,60615,76021,366
7697,1443,5619472,6146,55318,37424,927
8696,1973,5619502,6117,50320,98528,488
9695,2473,5619542,6078,45723,59232,049
10694,2933,5619572,6049,41526,19535,610
11693,3353,5619612,60010,37628,79539,171
12692,3743,5619652,59611,34031,39242,732
13691,4103,5619682,59312,30833,98546,293

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Listing Agent: Marisol Rosario
Listing Office: Dream Merchant Realty Inc.
1045 Nottingham Ln Hoffman Estates

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