HOT – Wicker Park – Brick 9-Unit

2606 - 2608 Le Moyne St. Chicago IL 60622
  • $1,850,000
  • $205,555
  • / Unit

HOT – Wicker Park – Brick 9-Unit

2606 - 2608 Le Moyne St. Chicago IL 60622
Yearly Income $183,912
Yearly Expenses $83,363
Current Rents $183,912
Pro Forma Rents $222,660
  • 21
  • Bedrooms
  • 9
  • Bathrooms
  • 3800
  • Sq Ft
  • 1914
  • Year Built
  • 100%
  • Occupancy
  • 3
  • Stories
  • Forced Air
  • Heating System
  • Window Units
  • Cooling System
  • Common, Paid
  • Laundry
  • 21
  • Bedrooms
  • 9
  • Bathrooms
  • 3800
  • Sq Ft
  • 1914
  • Year Built
  • 100%
  • Occupancy
  • 21
  • Parking
  • 3
  • Stories
  • Forced Air
  • Heating System
  • Forced Air
  • Cooling System
  • Common, Paid
  • Laundry

About the property

The building contains 9 spacious units consisting of three 3-bedroom/1 bath units and six 2-bedroom/1 bath units. Each unit has been meticulously updated to modern design, boasting features such as FRESH PAINT, RENOVATED BATHROOMS, CERAMIC TILE AND BEAUTIFULLY STAINED WOOD FLOORING. Each apartment also has rear balcony access. Furthermore, each unit has it’s own gas & electricity meter with tenant paying expenses for each thus making this building more efficient from a cost perspective. This building has been cared for, is CHA compliant, is already a cash cow with room to increase income.

The major VALUE ADD POTENTIAL with the building is that Each unit is separately pinned as they are individual condominiums. If the right buyer were to de-convert the units into 1 pin, the cost savings on taxes per year alone over $20,000 (in comparison to other buildings that have sold nearby) thus VASTLY INCREASE NOI & OVERALL VALUE SUBSTANTIALLY!! Seller has successfully de-converted another asset in the same manner.

About the neighbourhood

  • Wicker Park is a vibrant and popular neighborhood located in the West Side of Chicago, Illinois. This beautiful area is skown for its unique blend of art, culture, and a diverse community as well as its artistic and creative atmosphere. The neighborhood is home to numerous art galleries, theaters, and music venues, making it a hub for local artists and musicians. You'll often find street art, murals, and public art installations throughout the area.Considered by many as a foodie's paradise, Wicker Park is lined with a wide range of dining options, from trendy coffee shops and gourmet bakeries to bars and restaurants offering diverse cuisines. The neighborhood's nightlife scene is bustling, with numerous bars, clubs, and live music venues, making it a popular spot for those seeking entertainment after dark.Wicker Park is very well-connected to the rest of Chicago via public transportation, including the CTA's Blue Line, which provides easy access to the city's downtown and other neighborhoods.

Municipality - Investor Guide

Chicago
Transfer StampsPre Sale InspectionYearly Rental Inspection
Buyer: YCost: YesRequired: NoRequired: Yes
Seller: YCost: YesCost: $0Cost: 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

Rent Roll
Expenses & UT
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Sales Comps
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Property Financials

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Utility Table

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6 Cubic Yards
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Total Yearly Utitlity Cost:  $7,800.00

*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

2023202220212020
Tax Amount$0.00$21,194.48$38,535.41$31,783.83
YOY Tax Change ($)-$21,194.48-$17,340.93+$6,751.58+$3,118.47
YOY Tax Change (%)-100.00%-45.00%+21.24%+10.88%
Current Assessed Value$207,674
Source - Public Record

For more information on assessments, property taxes, and tax appeals visit: Property Taxes

Assessed - Land$27,352
Assessed - Improved$180,322
Source - Public Record

For more information on assessments, property taxes, and tax appeals visit: Property Taxes

Walkscore

Nearby

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Education
KizSundays (0.1 mi)
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Black Box Acting (0.12 mi)
Good 20 reviews
Naveen's Cuisine (0.14 mi)
Exceptional 444 reviews
Food
T Foods (0.15 mi)
0 reviews
Subway (0.18 mi)
Fair 14 reviews
Tip Top Food & Liquors (0.18 mi)
Exceptional 15 reviews
Health & Medical
Glamour Dungeon (0.1 mi)
Exceptional 1 reviews
KizSundays (0.1 mi)
Exceptional 1 reviews
The Surgeon of Fades (0.15 mi)
Good 3 reviews

Contact Information

Phu Nguyen
  • Phu Nguyen

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