3 Flat 1829 School North Center Chicago IL Mu Inv| Chicago Property Listings – X Plus Real Estate

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3 Flat 1829 School North Center Chicago IL Mu Inv

City: CHICAGO ZIP: 60657

Built In: 1894

Lot Size: L

Lot Dimensions: 25 X 125

# of Units: 3

Unit 1 Floor 1: 2 bedrooms 1 baths $1570

Unit 2 Floor 2: 2 bedrooms 1 baths $1580

Unit 3 Floor 3: 2 bedrooms 1 baths $1590

Gross Income $58,980

Net Op. Income $44,116

Detailed Listing Description

ROSCOE VILLAGE BRICK 3-FLAT in a great location just 3 blocks from the very heart of Roscoe Street Shops & Restaurants & 3 blocks from the Brown Line "L," X-Sport Fitness and Whole Foods as well. Beautiful, updated & well-maintained building on a quiet, tree-lined street in a very easy to rent location! Thermal pane windows, separate gas forced-air heat and central air conditioning for each apartment with tenants paying their own gas and electric bills. Building is comprised of three 2BR, 1BTH units and was gut rehabbed in 2000. New roof was installed in 2011. It also has a large 2-car garage with storage as well with additional income from garage rental and coin laundry for total revenue of just under $60K per year. Great investment opportunity with room for increased rents especially with cosmetic improvements. Perfect location, convenient to everything and a highly desirable and easy-to-rent neighborhood make this property a great opportunity for your long-term investment.

Additional Property Details

Garage & Parking
  • Gargage On SiteY
  • Gargage OwnershipA
  • Gargage TypeB
  • Number of Gargage Spaces2
  • ParkingG
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
  • Tenant Pays Unit 1A
  • Tenant Pays Unit 2A
  • Tenant Pays Unit 3A
  • Appliances Unit 1A,B,E,I
  • Appliances Unit 2A,B,E,I,N
  • Appliances Unit 3A,B,E,I,N
  • 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 29% more than other 3 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 2% more than other 3 unit listings in this neighborhood.

Calculated Rents
Rental Income : Annual $56,880 Monthly $4,740
Rental Income Stabilized : Annual $66,948 Monthly $5,579
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$4,740$5,579
Year Total$56,880$66,948
Net Operating Income$35,912$45,980
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Mortgage $9377 $25965 $35342 $2946
Total         $9,377 $25,965 $35,342   $570 $9,377 $9,947
Stabilized         $9,377 $25,965 $35,342   $10,638 $9,377 $20,015
Custom         $9377 $25965 $35342   $10638 $9377 $20015

MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments

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Listing Agent: Michael Hall
Listing Office: Baird & Warner
5514 N. Paulina Chicago

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