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Price: $699,000

MLS #: 10565434

Status: Active- Price Change

2 Flat 2422 Clybourn Lincoln Park Chicago IL Mu I

City: Chicago ZIP: 60614

Built In: 1891

Lot Size: A

Lot Dimensions: 2450

# of Units: 2

Unit 1 Floor 1: 4 bedrooms 2 baths $2600

Unit 2 Floor 2: 4 bedrooms 2 baths $2700

Investors
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Previous Listing

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Detailed Listing Description

Investors! 2-flat in prime Lincoln Park location. 6.5% cap rate and $66K gross income! Both units full gut rehab in 2004 with new mechanicals, new appliances, new HVAC and new water heaters! This property is great for the armchair investor! Both units have central heat/air, ample storage, D/W and in-unit W/D. Premier location surrounded by new construction, close to DePaul university, parks, shops, restaurants, nightlife and public transportation! In award winning Prescott elementary school district!

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Map

Property Details

Additional Property Details

Garage & Parking

ParkingN
Number of Parking Spaces0
Parking Fee/Lease Amount0

Utilities

Tenant Pays Unit 1B,C
Tenant Pays Unit 2B,C

Appliances

Appliances Unit 1A,B,C,D,E
Appliances Unit 2A,B,C,D,E

Schools

Grade School District299
Jr High/Middle School District299
High School District299

Comparative Data

Zip Code Comparison: 60614

Listings in this Zip Code average: 3 to 4 units, and are priced at $1,397,655 to $1,464,000
This listing is 14% more than other 2 unit listings in this zipcode.

Neighborhood Comparison:
CHI - Lincoln Park

Listings in this Neighborhood average: 3 to 4 units, with average prices of $1,494,179 to $1,560,429
This listing is 8% more than other 2 unit listings in this neighborhood.

Investors

Calculated Rents
Rental Income : Annual $63,600 Monthly $5,300
Rental Income Stabilized : Annual $63,600 Monthly $5,300

Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized

$699,0002$349,5006.06%10.990.76%

Income

Unit TypeCurrent RateStabilized RateCustom Rate

Unit 1 :: Beds 4 Baths 2 Floor 1Tenant Pays:B,C

Unit 2 :: Beds 4 Baths 2 Floor 2Tenant Pays:B,C

Monthly Total$5,300$5,300

Year Total$63,600$63,600

Expense

Total$21,221$21,221

Net Operating Income$42,379$42,379

Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return

Down

Mortgage $8458 $23419 $31877 $2657

Total $8,458 $23,419 $31,877 $10,502 $8,458 $18,960

Stabilized $8,458 $23,419 $31,877 $10,502 $8,458 $18,960

Custom $8458 $23419 $31877 $10502 $8458 $18960

Month	Balance	Payment	Principal	Interest	Equity	Total Interest	Total Payments
1	524,250	2,657	691	1,966	691	1,966	2,657
2	523,559	2,657	694	1,963	1,385	3,929	5,314
3	522,865	2,657	696	1,961	2,081	5,890	7,971
4	522,169	2,657	699	1,958	2,780	7,848	10,628
5	521,470	2,657	701	1,956	3,481	9,804	13,285
6	520,769	2,657	704	1,953	4,185	11,757	15,942
7	520,065	2,657	707	1,950	4,892	13,707	18,599
8	519,358	2,657	709	1,948	5,602	15,654	21,256
9	518,648	2,657	712	1,945	6,314	17,599	23,913
10	517,936	2,657	715	1,942	7,028	19,542	26,570
11	517,222	2,657	717	1,940	7,746	21,481	29,227
12	516,504	2,657	720	1,937	8,466	23,418	31,884
13	515,784	2,657	723	1,934	9,189	25,352	34,541

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Listing Agent: Stephen Schneider
Listing Office: Urban Real Estate
2935 W. Logan Blvd Chicago

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