311 Chicago Street, Elgin, Illinois 60120
$215,000
|
Sold
|
|
| Status: | Closed |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 5 |
| Baths: | 0 |
| Year Built: | 1900 |
| Property Taxes: | $4,521 |
| Days On Market: | 2929 |
| Lot Size: | 0,08 |
Description
Opportunity to purchase a fully occupied, strong cash flowing 4 flat walk-able to downtown Elgin. The property features 1 two bedroom (plus den) unit on the top floor, 2 one bedroom units on the main floor, and 1 one bedroom unit on the garden level. Top floor and garden on individual GFA furnaces. Two long term MTM tenants are ~$150 per unit below market rent of comparable units in the building! Middle units on electric baseboard heaters. All units lightly remodeled (see photos). Tenants pay their own gas and electric. Individual electric meters and water heaters. Majority of water heaters are newer. Great return! Over 9.50% CAP Rate at list price (see additional info for underwriting). Stronger CAP raising all units to market! Building does not have parking but does have a side yard.
Property Specifics
| Multi-unit | |
| — | |
| — | |
| 1900 | |
| Full | |
| Vinyl Siding | |
| Asphalt | |
| — | |
| No | |
| 0.08 |
| Kane | |
| — | |
| — / — | |
| — | |
| Lake Michigan | |
| Public Sewer | |
| — | |
| Natural Gas, Electric, Forced Air, Baseboard | |
| 10121752 | |
| 0613304004 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 7 Dec, 2018 | Sold | $215,000 | MRED MLS |
| 3 Nov, 2018 | Under contract | $225,000 | MRED MLS |
| 25 Oct, 2018 | Listed for sale | $225,000 | MRED MLS |
| 10 Mar, 2021 | Sold | $170,000 | MRED MLS |
| 18 Jan, 2021 | Under contract | $172,900 | MRED MLS |
| 1 Oct, 2020 | Listed for sale | $172,900 | MRED MLS |
| 14 Nov, 2023 | Sold | $400,000 | MRED MLS |
| 17 Oct, 2023 | Under contract | $380,000 | MRED MLS |
| 11 Oct, 2023 | Listed for sale | $380,000 | MRED MLS |
Room Specifics
Total Bedrooms: 5
Bedrooms Above Ground: 5
Bedrooms Below Ground: 0
Full Bathrooms: 4
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Other Specifics
| — | |
| — | |
| None | |
| — | |
| — | |
| — | |
| — | |
| — | |
| 3485 SF | |
| — | |
| — | |
| — | |
| — | |
| Not in DB | |
| — | |
| — | |
| — |
Tax History
| Year | Property Taxes |
|---|---|
| 2018 | $4,521 |
| 2021 | $2,848 |
| 2023 | $6,475 |
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Listing Provided By
Triton Realty Group LLC
