3 Flat 1537 Barry Lake View Chicago IL Mu Investm| Chicago Property Listings – X Plus Real Estate

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3 Flat 1537 Barry Lake View Chicago IL Mu Investm

City: CHICAGO ZIP: 60657

Built In: U

Lot Size: A

Lot Dimensions: 25 X 125

# of Units: 3

Unit 1 Floor 1: 1 bedrooms 1 baths $1200

Unit 2 Floor 2: 3 bedrooms 2 baths $2200

Unit 3 Floor 2: 4 bedrooms 3 baths $3000

Gross Income $78,000

Net Op. Income $50,129

Detailed Listing Description

Must see to appreciate! Excellent investment opportunity! Just a few blocks to Southport corridor. Rare find with two buildings on this highly desirable property. Rear coach house + front 2-Flat. Although the income is substantial, the units were rented under market value. Both the 4 bed/3 bath coach house and the 3 bed/2 bath should realize a minimum of $200/more more per unit than currently rented for. The one bedroom + den has been rented to friends of the owner for four years at the same rent ($1200) and should go for a minimum of $1500-$1600/month. Fully leased three unit building consisting of a 4 bed/3 bath coach house in rear + 3 bed/2 bath duplex up, and 1.5 bed/1 bath in front building. Fully Rehabbed. Lovely, spacious courtyard between front building and coach house. All units have rented easily when they turn over. Taxes have not been appealed since 2008. There's a good chance new owner could appeal and see a good reduction.

Additional Property Details

Garage & Parking
  • ParkingN
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
  • Tenant Pays Unit 1B,C,D
  • Tenant Pays Unit 2B,C,D
  • Tenant Pays Unit 3B,C,D
  • Appliances Unit 1A,B,I,S
  • Appliances Unit 2A,B,E,F,I,S,U
  • Appliances Unit 3A,B,C,D,E,I,S,T,U
  • Grade SchoolBurley Elementary School
  • Grade School District299
  • Jr High/Middle School District299
  • High SchoolLake View High School
  • 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 17% more than other 3 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 14% more than other 3 unit listings in this neighborhood.

Calculated Rents
Rental Income : Annual $76,800 Monthly $6,400
Rental Income Stabilized : Annual $90,576 Monthly $7,548
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$6,400$7,548
Year Total$76,800$90,576
Net Operating Income$39,524$53,300
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Mortgage $10878 $30119 $40997 $3417
Total         $10,878 $30,119 $40,997   $-1,473 $10,878 $9,405
Stabilized         $10,878 $30,119 $40,997   $12,303 $10,878 $23,181
Custom         $10878 $30119 $40997   $12303 $10878 $23181

MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments

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

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