1807 Lawndale Avenue, Logan Square, Chicago, Illinois 60647
$1,065,000
|
Sold
|
|
| Status: | Closed |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 9 |
| Baths: | 0 |
| Year Built: | 1888 |
| Property Taxes: | $11,145 |
| Days On Market: | 675 |
| Lot Size: | 0,00 |
Description
Exceptionally well-located legal 4 unit steps to 606 trail, 1 mile to Healy Metra, 1.5 miles to California Blue line, and everything Logan. Currently a 6.6 Cap at asking price. Offers multiple investment objectives as investor or end user. Unit mix offers (1) 3 bedroom 1 bath and (3) 2 bedroom 1 bath. Individual gas forced heat and central air, separate hot water tanks, newer kitchens and baths, hardwood floors, huge yard and in unit laundry make these units very desirable. Current Gross Monthly Income $7,400.00; Annual Income is currently $88,800 with increasing the rents at the next lease renewals, the building should be grossing closer to $105,600. Current Net Operating Income is about $73,000. Property was completely gut rehabbed with plans and permits about 11 years ago and is fully stabilized with 3 leases expiring June, July and August 2024 and 1 unit MTM providing an opportunity to increase rents. At lease renewals, rents should be: Unit G $1,800 Unit 1 $2,350 with a garage parking space Unit 2 $2,350 with a garage parking space Unit 3 $2,300. Total Monthly goes from current amount of $7,400 to $8,800; Taking the yearly gross to $105,600 and the NOI to $90,000; making this an 8 cap. Zoning Certificate shows 4 units. Don't miss out on this money maker and make your appointment today.
Property Specifics
| Multi-unit | |
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| 1888 | |
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| No | |
| — |
| Cook | |
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| — / — | |
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| 12004857 | |
| 13353130240000 |
Nearby Schools
| NAME: | DISTRICT: | DISTANCE: | |
|---|---|---|---|
|
Grade School
Darwin Elementary School |
299 | — | |
|
High School
Clemente Community Academy Senio |
299 | Not in DB | |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 3 Jul, 2014 | Sold | $37,000 | MRED MLS |
| 19 Jun, 2014 | Under contract | $35,000 | MRED MLS |
| — | Last price change | $48,600 | MRED MLS |
| 23 Nov, 2013 | Listed for sale | $75,000 | MRED MLS |
| 18 Nov, 2014 | Sold | $104,691 | MRED MLS |
| 26 Sep, 2014 | Under contract | $89,000 | MRED MLS |
| — | Last price change | $79,000 | MRED MLS |
| 8 Aug, 2014 | Listed for sale | $79,000 | MRED MLS |
| 13 Nov, 2024 | Sold | $1,065,000 | MRED MLS |
| 1 Aug, 2024 | Under contract | $1,100,000 | MRED MLS |
| — | Last price change | $1,175,000 | MRED MLS |
| 14 Mar, 2024 | Listed for sale | $1,175,000 | MRED MLS |
Room Specifics
Total Bedrooms: 9
Bedrooms Above Ground: 9
Bedrooms Below Ground: 0
Dimensions: —
Floor Type: —
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Full Bathrooms: 4
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Basement Description: Finished,Exterior Access
Other Specifics
| 2 | |
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| — | |
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| 25X125 | |
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| Not in DB | |
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| — |
Tax History
| Year | Property Taxes |
|---|---|
| 2024 | $11,145 |
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Listing Provided By
Adonis Realty LLC
