2 Flat 3014 Racine Lake View Chicago IL Mu Invest| Chicago Property Listings – X Plus Real Estate

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2 Flat 3014 Racine Lake View Chicago IL Mu Invest

City: Chicago ZIP: 60657

Built In: U

Lot Size: A

Lot Dimensions: 2976

# of Units: 2

Unit 1 Floor 1: 2 bedrooms 1 baths $1900

Unit 2 Floor 2: 4 bedrooms 2 baths $3525

Gross Income $65,100

Detailed Listing Description

Two-unit apartment building in south central Lakeview available for sale! Easy to rent, easy to manage. Unit 1: Large ground floor 2-bed / 1-bath has recently updated kitchen, bathroom, and appliances. Below market rent tenant is on month-to-month agreement. Unit 2: Second-to-third floor duplex-up 4 bed / 2.5 bath. Excellent owner-occupant potential. Lives like a home, or cosmetic upgrade to kitchen and bathrooms to achieve market rental rate. Each unit has one garage parking space included in rent. NEW roof & extensive siding work completed in Spring 2020 ($30K). RT-4 zoning on alley in generally RS-3 area - potential development opportunity. Both units feature in-unit laundry, central air/heat, and individual hot water tanks. Two-car detached garage and common landscaped backyard.

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
Utilities
  • Tenant Pays Unit 1B,C
  • Tenant Pays Unit 2B,C
Appliances
  • Appliances Unit 1A,B,C,D,E,F,G,I,N,P,S
  • Appliances Unit 2A,B,C,D,E,F,G,I,N,P,S,T,U
Schools
  • Grade SchoolAgassiz Elementary School
  • 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 11% more than other 2 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 12% more than other 2 unit listings in this neighborhood.


Calculated Rents
Rental Income : Annual $65,100 Monthly $5,425
Rental Income Stabilized : Annual $63,360 Monthly $5,280
Price Units Price/Unit Cap Rate - Current GRM Cap Rate - Stabilized
$775,0002$387,5005.04%11.900.68%
Income
Unit TypeCurrent RateStabilized RateCustom Rate
Monthly Total$5,425$5,280
Year Total$65,100$63,360
Expense
Total$26,040$26,040
Net Operating Income$39,060$37,320
Amount Percent Rate Amortization Principal Interest Total Debit Services Monthly Debit Services Cash Flow Principal Reduction Total Return
Down
Mortgage $9377 $25965 $35342 $2946
Total         $9,377 $25,965 $35,342   $3,718 $9,377 $13,095
Stabilized         $9,377 $25,965 $35,342   $1,978 $9,377 $11,355
Custom         $9377 $25965 $35342   $1978 $9377 $11355




MonthBalancePaymentPrincipalInterestEquityTotal InterestTotal Payments
1581,2502,9467662,1807662,1802,946
2580,4842,9467692,1771,5354,3575,892
3579,7152,9467722,1742,3086,5308,838
4578,9422,9467752,1713,0838,70111,784
5578,1672,9467782,1683,86010,87014,730
6577,3902,9467812,1654,64113,03517,676
7576,6092,9467842,1625,42515,19720,622
8575,8252,9467872,1596,21217,35623,568
9575,0382,9467902,1567,00119,51326,514
10574,2492,9467932,1537,79421,66629,460
11573,4562,9467962,1508,58923,81732,406
12572,6612,9467992,1479,38825,96435,352
13571,8622,9468022,14410,18928,10938,298

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Listing Agent: Thomas Hart
Listing Office: 33 Realty
3024 N. Racine Avenue, unit 2 Chicago

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