9026 Laflin Street, Washington Heights, Chicago, Illinois 60620
$370,000
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Sold
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| Status: | Closed |
| Sqft: | 0 |
| Cost/Sqft: | — |
| Beds: | 8 |
| Baths: | 0 |
| Year Built: | 1950 |
| Property Taxes: | $5,115 |
| Days On Market: | 1894 |
| Lot Size: | 0,15 |
Description
* 9.02% In Place Cap Rate * Gross Income (w/ 5% vacancy)- $48,837 * NOI - $33,380 Kiser Group is pleased to exclusively offer for purchase 9026 S. Laflin, a four (4) unit walk-up building located in the Brainerd neighborhood of Chicago's south west side. This asset has been meticulously maintained, and has served as a family heirloom for several decades. Conveniently, the property sits just three (3) blocks from the Brainerd Metra Station and is also situated less than one mile from Chicago's renowned Beverly Country Club. 9026 S. Laflin is solely comprised of beautiful and spacious 2b/1ba units. All of which contain, both, a separate living room and separate dining room adjacent to the kitchen. All of the tenants are long term with average tenancy exceeding 10 years. The units have been updated with newer kitchens and baths, and all are heated via individual furnaces. Recent capital improvements to the building consist of, but not limited to: newer (and individual) hot water tanks, updated furnaces, masonry and tuckpointing, as well as roof maintenance. Additionally, the building is equipped with a laundry facility in the lower level along with individual tenant storage rooms. The building also features a parking lot in the back large enough for five (5) vehicles. 9026 S. Laflin provides an investor with a rare opportunity to acquire a stabilized, strong cash flowing asset in Chicago's desirable pocket of Brainerd. From day one, a new owner will inherit and capitalize on an incredibly strong and long term tenant base with exceptionally low expenses. With no gas bill and the City of Chicago responsibly for garbage pickup, a new owner will realize an in place cap rate of 9% with an opportunity to achieve a pro forma cap rate of nearly 11% by raising rents to
Property Specifics
| Multi-unit | |
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| 1950 | |
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| No | |
| 0.15 |
| Cook | |
| Brainerd | |
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| 10838117 | |
| 25051250190000 |
Property History
| DATE: | EVENT: | PRICE: | SOURCE: |
|---|---|---|---|
| 11 Dec, 2020 | Sold | $370,000 | MRED MLS |
| 9 Sep, 2020 | Under contract | $370,000 | MRED MLS |
| 28 Aug, 2020 | Listed for sale | $370,000 | MRED MLS |
Room Specifics
Total Bedrooms: 8
Bedrooms Above Ground: 8
Bedrooms Below Ground: 0
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Full Bathrooms: 4
Bathroom Amenities: —
Bathroom in Basement: —
Rooms: —
Basement Description: Unfinished
Other Specifics
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| 50' X 124.7' | |
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| Not in DB | |
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Tax History
| Year | Property Taxes |
|---|---|
| 2020 | $5,115 |
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Listing Provided By
Kiser Group Realty Inc
