- List Price $2,285,000
- Price / Unit $380,833
- Property Type Multifamily
- Units 6
- Current Rents $174,600
- Pro Forma Rents $232,800
- In Place NOI $127,702
- Projected NOI $181,953
- Target CAP Rate 5.59%
- Market CAP Rate 4.5%
- Today's Market Value $2,804,000
- Value w/Market Rents $4,066,000
*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
- 12
- 8490
- 1900
- 100%
- 6
- 3
- Varies
- Varies
- Common, Paid
20
12
8490
- 1900
- 100%
- 20
- 3
- Varies
- Varies
- Common, Paid
About the property
Welcome to 4431 Racine Ave., Chicago, IL, nestled in the vibrant Uptown district. This multi-unit gem comprises six units, including four spacious 3-bedroom/2-bathroom units and two 4-bedroom/2-bathroom units—all tastefully updated, as showcased in the provided photos. Roof is actively maintained annually, windows have been updated within the last five years. The building currently utilizes electric baseboard heating. However, plans are in progress with the village to convert the building to central HVAC for both heating and cooling. The property has six parking spots in the back and laundry facilities consisting of two sets in the basement. This listing presents a rare opportunity to invest in a thoughtfully maintained and evolving property in the heart of Uptown, Chicago.
About the neighbourhood
- Uptown is a dynamic and culturally rich neighborhood located on the North Side of Chicago, offering a unique blend of historic charm and modern vibrancy. Known for its diverse community, Uptown has a rich cultural heritage, with a mix of historic architecture and contemporary developments. The area is characterized by tree-lined streets, a variety of housing options, and a lively atmosphere. Residents and visitors alike can enjoy a diverse array of dining options, entertainment venues, and eclectic shops. Uptown is home to iconic landmarks such as the Aragon Ballroom and the historic Uptown Theatre, contributing to its reputation as a hub for arts and entertainment. The neighborhood's proximity to Lake Michigan provides scenic views and recreational opportunities along the lakefront. With its welcoming atmosphere and a range of amenities, Uptown stands as a dynamic and evolving community that celebrates its diversity and cultural richness.
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: $8,212.00
*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
-
Harry S Truman College - Cosmetology School (0.07 mi)
-
Sunnyside Mall (0.13 mi)
-
Target (0.16 mi)
- Education
-
Schools Public (0.08 mi)
-
City Colleges of Chicago (0.08 mi)
-
Harry S Truman College - Cosmetology School (0.07 mi)
- Food
-
Farmer's Fridge (0.18 mi)
-
Bartman Turkey Kings’ (0.11 mi)
-
Uptown Nutrition (0.17 mi)
- Health & Medical
-
Truman College (0.14 mi)
-
ALDI (0.14 mi)
-
CVS Pharmacy (0.15 mi)
Contact Information
- List Price $2,285,000
- Property Type Multifamily
- Current Rents $174,600
- In Place NOI $127,702
- Target CAP Rate 5.59%
- Today's Market Value $2,804,000
- Price / Unit $380,833
- Units 6
- Pro Forma Rents $232,800
- Projected NOI $181,953
- Market CAP Rate 4.5%
- Value w/Market Rents $4,066,000
*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.
