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 $1500

Unit 2 Floor 2: 3 bedrooms 2 baths $2200

Unit 3 Floor 2: 4 bedrooms 3 baths $3000

Gross Income $80,400

Net Op. Income $52,583

Detailed Listing Description

Rare Find. Two-Flat + Three level coach house in the best part of Lakeview. Just three blocks to Southport corridor, great transportation and area shops and restaurants. This fully leased building enjoys excellent income. Upon renewal larger units should rent for $200-$300 higher. Can provide area comps to substantiate. This lovely property consist of a 2200 sq.ft. 4 bed/3 bath coach house, a 3 bed/2 bath duplex and a one bedroom + den/ 1 bath unit. 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. Lovely, common courtyard between front building and coach house. Additional income opportunity for installing coin-op laundry and building out lower level of front building for 4th unit. 5 blocks to Paulina subway stop and Ashland bus at the corner. Excellent walk score! Great price and cap rate.

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 22% 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 18% more than other 3 unit listings in this neighborhood.

Calculated Rents
Rental Income : Annual $80,400 Monthly $6,700
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$6,700$7,548
Year Total$80,400$90,576
Net Operating Income$42,944$53,120
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Mortgage $10273 $28444 $38717 $3227
Total         $10,273 $28,444 $38,717   $4,227 $10,273 $14,500
Stabilized         $10,273 $28,444 $38,717   $14,403 $10,273 $24,676
Custom         $10273 $28444 $38717   $14403 $10273 $24676

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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