Active
1807 N Lawndale Avenue
Chicago IL, 60647
$1,100,000
Active
9 Beds
4 Baths
Residential
Built in 1888
Courtesy of Adonis Realty LLC
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.
12004857
MLSⓇ ID
March 14, 2024
Listed
May 2, 2024
Updated
Map
1807 N Lawndale Avenue
Chicago IL, 60647
Interior Features
Bedrooms
9 Beds
Bathrooms
4 Baths
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Natural Gas, Forced Air
Exterior/Building Features
Exterior Features
Deck, Porch, Storms/Screens
Lot Features
Cul-De-Sac
Roof
Asphalt
Sewer
Public Sewer
School Information
School District
299
High School
Clemente Community Academy Senio
Elementary School
Darwin Elementary School
Other Property Details
Area Name
CHI - Logan Square
Taxes
$11,145
Tax Frequency
Annually
Days on Market
50
Garage
Yes
Garage Spaces
2
Parking Total
2
View
No
County
Cook
Municipality
West Chicago
Water Source
Lake Michigan
Pool
No
Zoning
MULTI
Buyer Agency Compensation
2% - $595
Listing History
Date | Event | Price |
|---|---|---|
4/26/2024 | Price Change | $1,100,000 -7% |
Courtesy of Adonis Realty LLC, Anthony Macias,
Listing Contact: 773-447-5081
The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than The Hancock Group are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
Based on information submitted to the MLS GRID for MRED 5/2/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.
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Data last updated 5:11 PM UTC, 5/2/2024
