- List Price $4,990,000
- Price / Unit $172,069
- Property Type Multifamily
- Units 29
- Current Rents $445,380
- Pro Forma Rents $597,900
- In Place NOI $314,404
- Projected NOI $459,298
- Target CAP Rate 6.3%
- Market CAP Rate 5.0%
- Today's Market Value $6,288,000
- Value w/Market Rents $9,185,000
*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.
- 38
- 29
- 10260
- 1931
- 100%
- 3
- Forced Air
- Window Units
- Common, Paid
38
29
10260
- 1931
- 100%
- 38
- 3
- Forced Air
- Forced Air
- Common, Paid
About the property
The building contains 29 spacious units consisting of nine 2-bedroom/1-bath units, twenty Spacious 1-bedroom/1 bath units. MAJOR RENOVATIONS & UPDATES have been completed on this building making it a Solid Turn-Key Asset. The building boasts a NEW ROOF, updated Lentils along with Vinyl windows that were updated less than 6 years ago. 23 of 29 units have been meticulously updated to modern design, boasting features such as FRESH PAINT, QUARTZ COUNTERTOPS, RENOVATED BATHROOMS, CERAMIC TILE AND BEAUTIFULLY STAINED WOOD FLOORING. The building is heated through Forced Air & cooled by window unit AC. 85% of the building’s plumbing has been replaced including 12 of 16 risers, all drains and main sewer lines. Lastly, this building has been cared for, is CHA compliant, is already a cash cow with room to increase income.
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: Yes | Required: No | Required: Yes |
| Seller: Y | Cost: Yes | 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
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Utility Table
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Property Taxes
| 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|
| Tax Amount | $28,119.91 | $51,127.11 | $26,164.01 | $23,596.94 |
| YOY Tax Change ($) | -$23,007.20 | +$24,963.10 | +$2,567.07 | +$396.83 |
| YOY Tax Change (%) | -45.00% | +95.41% | +10.88% | +1.71% |
| Current Assessed Value | $235,887 | Source - Public Record For more information on assessments, property taxes, and tax appeals visit: Property Taxes | Assessed - Land | $15,134 | Assessed - Improved | $220,753 |
For more information on assessments, property taxes, and tax appeals visit: Property Taxes
Walkscore
Nearby
- Arts & Entertainment
-
Mado's African Hair Braiding Salon (0.21 mi)
-
Lee Nails (0.26 mi)
-
Glen Lusby Interiors (0.27 mi)
- Education
-
Little People Day Care & Kindergarten (0.2 mi)
-
Taste Food & Wine (0.43 mi)
-
Uno Rogers Park Charter School Theater (0.43 mi)
- Food
-
Tortas Salome (0.09 mi)
-
Parkside Gyros (0.1 mi)
-
El Original Supermarket (0.11 mi)
- Health & Medical
-
New Image Hair Salon (0.09 mi)
-
Walgreens (0.13 mi)
-
Rogers Park Nutrition Spot (0.15 mi)
Contact Information
- List Price $4,990,000
- Property Type Multifamily
- Current Rents $445,380
- In Place NOI $314,404
- Target CAP Rate 6.3%
- Today's Market Value $6,288,000
- Price / Unit $172,069
- Units 29
- Pro Forma Rents $597,900
- Projected NOI $459,298
- Market CAP Rate 5.0%
- Value w/Market Rents $9,185,000
*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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Based on Citypoint’s communication with the seller, the price point listed is a price that the seller should be willing to transact at. Any terms for, or against, the seller can help/hurt this price level.
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