- List Price $2,400,000
- Price / Unit $300,000
- Property Type Multifamily
- Units 8
- Current Rents $229,836
- Pro Forma Rents $256,800
- In Place NOI $173,442
- Projected NOI $199,271
- Target CAP Rate 7.2%
- Market CAP Rate 5%
- Today's Market Value $3,470,000
- Value w/Market Rents $3,980,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
- 24
- 17
- 13000
- 2007
- 100%
- 8
- 3
- Forced Air
- Central Air
- In Unit, Free
24
17
13000
- 2007
- 100%
- 24
- 3
- Forced Air
- Forced Air
- In Unit, Free
About the property
Beautifully updated and meticulously maintained 8-unit in a highly sought after part of Chicago’s north side. Being built in 2007 as a condo building, the property was constructed to suit the standards of todays buyer’s/tenant’s demands. The unit mix contains four 3 bed/2.5 bath TOWNHOUSE-STYLE units & four 3 bed/2 bath units. All units feature separate HVAC systems, laundry machines, and balconies. The units are currently condos and have been approved to be de-converted into apartments. The change will take effect in 2025 to which the property will benefit by a substantial property tax reduction.
About the neighbourhood
- Rogers Park is a vibrant and diverse neighborhood located on the North Side of Chicago, known for its unique cultural mix, beautiful lakefront, and strong sense of community. Rogers Park offers a dynamic and inviting atmosphere, characterized by a blend of architectural styles, including vintage apartments, historic homes, and modern condominiums. The community is known for its artistic and creative scene, with several theaters, galleries, and music venues that host performances and exhibitions throughout the year. Loyola University Chicago, a prominent educational institution, is also situated within Rogers Park, contributing to the area's academic and youthful energy.
Municipality - Investor Guide
Chicago
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: Y | Cost: $7.50 / $1000 | Required: No | Required: Yes |
| Seller: Y | Cost: $3.00 / $1000 | Cost: $0 | Cost: Varies |
| Notes | |||
| All rental buildings with 4 or more units must be registered with the city; Inspection may occur upon notice from Building Department. Call City to confirm if inspection is needed prior to closing. | |||
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
Property Financials
View current and future return metrics based on customizable inputs. "Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs.
Property Current
This column shows the current financial state of the subject property. Some of these inputs may be estimations.
Year 2 Pro Forma
This column is based off of market rents and assumes proper property performance.
Debt Service
This column allows the user to add custom financing scenarios.
Mortgage Calculator
- Down Payment
- Loan Amount
- Monthly Mortgage Payment
- Monthly Property Tax
- Monthly Property Insurance
- Monthly HOA Fees
Utility Table
Total Yearly Utitlity Cost: $7,836.00
*This Utility Table does not include snow removal or lawn care costs, if any. For more details on snow/lawn expenses, see the "Expenses" attachment located under the "Property Documents" section.
Property Taxes
Currently No Tax data found for this property. Please Check back later.
Walkscore
Nearby
- Arts & Entertainment
-
Beena Salon (0.15 mi)
-
Music House School of Performing Arts (0.17 mi)
-
Croatian Cultural Center of Chicago (0.19 mi)
- Education
-
Jacques International Language Academy (0.18 mi)
-
Indo American Center (0.19 mi)
-
Hanna Sacks Bais Yaakov (0.19 mi)
- Food
-
Cafe California (0.15 mi)
-
ALDI (0.15 mi)
-
Zabiha Meat Market (0.17 mi)
- Health & Medical
-
Beena Salon (0.15 mi)
-
ALDI (0.15 mi)
-
Astoria Place Living & Rehab Center (0.17 mi)
Contact Information
- List Price $2,400,000
- Property Type Multifamily
- Current Rents $229,836
- In Place NOI $173,442
- Target CAP Rate 7.2%
- Today's Market Value $3,470,000
- Price / Unit $300,000
- Units 8
- Pro Forma Rents $256,800
- Projected NOI $199,271
- Market CAP Rate 5%
- Value w/Market Rents $3,980,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
Similar Listings
Wicker Park Newer Development
1709 N Winnebago Ave. Chicago IL 60647Other
Units: 1- Beds: 3
- Baths: 3.5
- 2650 Sq Ft
Rogers Park Multifamily Brick Building
7325 N Honore St. Chicago IL 60626Multifamily
- Units: 28
- Beds: 38
- Baths: 29
- 21600 Sq Ft
Rare 2-Unit Renovated Property In Bridgeport
2724 S Crowell St. Chicago IL 60608Two - Four Unit
- Units: 2
- Beds: 5
- Baths: 2
- 2000 Sq Ft
