- List Price $1,750,000
- Price / Unit $250,000
- Property Type Multifamily
- Units 7
- Current Rents $166,980
- Pro Forma Rents $199,200
- In Place NOI $111,000
- Projected NOI $141,000
- Target CAP Rate 6.4%
- Market CAP Rate 5%
- Today's Market Value $2,230,000
- Value w/Market Rents $2,800,000
*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.
- 20
- 7
- 7914
- 1904
- 100%
- 5
- 3
- Boiler Heat
- Window Units
- Common, Paid
20
7
7914
- 1904
- 100%
- 20
- 3
- Boiler Heat
- Boiler Heat
- Common, Paid
About the property
Welcome to 643 Hinman Ave. nestled in the vibrant village of Evanston, IL. This multi-unit gem comprises of 7 units, including five spacious 3-bedroom/1-bathroom units, one 4-bedroom/1-bathroom unit and one 1-bedroom/1-bathroom unit, all tastefully updated, as showcased in the provided photos. Roof is actively maintained annually, windows have been updated within the last five years. The property has 5 parking spots in the back along with a 2-car garage available. Laundry facilities consist of two sets on sited in the basement. This listing presents a rare opportunity to invest in a thoughtfully maintained and evolving property in the heart of Evanston, IL.
About the neighbourhood
- Evanston, Illinois is a vibrant city known for its diverse population, cultural amenities, and prestigious educational institutions. Home to Northwestern University, Evanston offers a unique blend of academic excellence, historic charm, and modern urban living. With its tree-lined streets, beautiful lakefront parks, and thriving downtown district, Evanston attracts residents and visitors alike.Evanston is known for its inclusivity, with residents representing a wide range of racial, ethnic, and socioeconomic backgrounds. This diversity contributes to the city's rich cultural tapestry and vibrant community life. Evanston offers a unique blend of academic excellence, cultural richness, and urban amenities. With its diverse population, top-tier educational institutions, thriving economy, and vibrant arts and recreation scene, Evanston continues to attract residents and visitors who value community, innovation, and quality of life. As the city looks toward the future, it remains committed to fostering inclusivity, sustainability, and economic growth for all its residents.
Municipality - Investor Guide
Evanston
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: N | Cost: None | Required: No | Required: Yes |
| Seller: Y | Cost: Yes | Cost: $0 | Cost: Varies |
| Notes | |||
| Transfer Stamp costs vary as follows: $5.00 for every $1,000 up to $1.5M. $7.00 for every $1,000 $1.5M - $5M. $9.00 for every $1,000 for $5M+ | |||
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
Property Financials
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Mortgage Calculator
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Utility Table
Total Yearly Utitlity Cost: $15,588.00
*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
| 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|
| Tax Amount | $11,637.68 | $21,159.41 | $20,877.00 | $20,688.28 |
| YOY Tax Change ($) | -$9,521.73 | +$282.41 | +$188.72 | -$10,643.42 |
| YOY Tax Change (%) | -45.00% | +1.35% | +0.91% | -33.97% |
| Current Assessed Value | $118,000 | Source - Public Record For more information on assessments, property taxes, and tax appeals visit: Property Taxes | Assessed - Land | $25,650 | Assessed - Improved | $92,350 |
For more information on assessments, property taxes, and tax appeals visit: Property Taxes
Walkscore
Nearby
- Arts & Entertainment
-
Walgreens (0.08 mi)
-
Rock Star Nails & Spa - Evanston (0.08 mi)
-
Club Pilates (0.16 mi)
- Education
-
312 Doulas (0.17 mi)
-
Science Cafe (0.2 mi)
-
Metzger Music Studio (0.27 mi)
- Food
-
JD Mills Health Food (0.07 mi)
-
Yofresh Yogurt Cafe (0.08 mi)
-
Hunan Spring (0.07 mi)
- Health & Medical
-
JD Mills Health Food (0.07 mi)
-
For Eyes (0.07 mi)
-
Supercuts (0.08 mi)
Contact Information
- List Price $1,750,000
- Property Type Multifamily
- Current Rents $166,980
- In Place NOI $111,000
- Target CAP Rate 6.4%
- Today's Market Value $2,230,000
- Price / Unit $250,000
- Units 7
- Pro Forma Rents $199,200
- Projected NOI $141,000
- Market CAP Rate 5%
- Value w/Market Rents $2,800,000
*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.
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