4 Flat 2155 Spaulding Logan Square Chicago IL Mu | Chicago Property Listings – X Plus Real Estate

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4 Flat 2155 Spaulding Logan Square Chicago IL Mu

City: Chicago ZIP: 60647

Built In: 1924

Lot Size: A

Lot Dimensions: 30X150

# of Units: 4

Unit 1 Floor 1: 3 bedrooms 2 baths $1830

Unit 2 Floor 2: 3 bedrooms 2 baths $2600

Unit 3 Floor 3: 3 bedrooms 2 baths $2150

Unit 4 Floor 4: 3 bedrooms 2 baths $2250

Gross Income $11,160

Net Op. Income $85,147

Detailed Listing Description

Perfect opportunity for an investor or an owner who would like to live on a gorgeous tree-lined street, steps away from Palmer Square in a beautiful, classic Chicago, ~1,950SF living space, and to collect rents from three other large beautiful units. Each unit has three-bedrooms, two-bathrooms, separate (large) living rooms, dining rooms, and kitchens, and sun rooms. 2155 N Spaulding has been beautifully maintained, with the garden & first floor units rehabbed. There is a charming front yard, common area patio space, and a three car garage. There is upside opportunity to increase income easily with currently below market rents. Greater upside could be achieved in this booming location with a zoning change and converting the property to 6-8 units. For reference, 2bd/2ba units at about 950SF in the area rent for $2,000-$2,200/mo, suggesting an upside possibility of $211,200 in annual gross rents!

Additional Property Details

Garage & Parking
  • Gargage On SiteY
  • Gargage OwnershipA
  • Gargage TypeB
  • Number of Gargage Spaces3
  • ParkingG
  • Number of Parking Spaces0
  • Parking Fee/Lease Amount0
Utilities
  • Tenant Pays Unit 1B,C,D
  • Tenant Pays Unit 2B,C,D
  • Tenant Pays Unit 3B
  • Tenant Pays Unit 4B
Appliances
  • Appliances Unit 1A,B,I,P,S
  • Appliances Unit 2A,B,J,P,S
  • Appliances Unit 3A,B,E,J,S
  • Appliances Unit 4A,B,E,J,S
Schools
  • Grade School District299
  • Jr High/Middle School District299
  • High School District299

Comparative Data

Zip Code Comparison: 60647

Listings in this Zip Code average: 2 to 3 units, and are priced at $518,344 to $620,208
This listing is 35% more than other 4 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Logan Square

Listings in this Neighborhood average: 2 to 3 units, with average prices of $537,114 to $693,159
This listing is 17% more than other 4 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $105,960 Monthly $8,830
Rental Income Stabilized : Annual $130,992 Monthly $10,916
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$1,540,0004$385,0004.50%14.530.71%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$8,830$10,916
Year Total$105,960$130,992
Expense
Total$36,588$36,588
Net Operating Income$69,372$94,404
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $18633 $51594 $70227 $5853
Total         $18,633 $51,594 $70,227   $-855 $18,633 $17,778
Stabilized         $18,633 $51,594 $70,227   $24,177 $18,633 $42,810
Custom         $18633 $51594 $70227   $24177 $18633 $42810




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
11,155,0005,8531,5224,3311,5224,3315,853
21,153,4785,8531,5274,3263,0498,65711,706
31,151,9515,8531,5334,3204,58212,97717,559
41,150,4185,8531,5394,3146,12117,29123,412
51,148,8795,8531,5454,3087,66621,59929,265
61,147,3345,8531,5504,3039,21725,90135,118
71,145,7835,8531,5564,29710,77330,19840,971
81,144,2275,8531,5624,29112,33534,48946,824
91,142,6655,8531,5684,28513,90338,77452,677
101,141,0975,8531,5744,27915,47743,05358,530
111,139,5235,8531,5804,27317,05747,32664,383
121,137,9435,8531,5864,26718,64251,59470,236
131,136,3585,8531,5924,26120,23455,85576,089

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Listing Agent: Ryan Wewerka
Listing Office: Chicago Real Estate Resources
1210 S. Indiana Ave #1903 Chicago

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