Bay Area based investor owns duplexes/triplexes in Chicago, and is selling few of them. This property is in a decent neighborhood, has a good property management company managing it, and is a 2-unit. Each unit is 3 Bed one bath. Both units are rented at the time this brochure was made, both tenants have been there for a while. After financing, the potential returns (estimates) are over 21% cash-on-cash returns, not counting either principal pay down or appreciation. Owner is selling because he is now investing in large Multifamily projects and moving out of smaller properties. This is a DIRECT sale, you are directly talking with the owner. No brokers involved.


About the property
One unit is a TRUST FUND approved unit at $1225 per month rent. This is the best kind of subsidy (better than CHA/Section8) because the subsidy is tied to the unit, not the tenant. If we lose a tenant, the trust fund just sends a new tenant.
Low maintenance Hardwood floors, Tile in kitchen. Large living room and dining room combo. (see pics).
Gut rehabbed in 2014. New espresso cabinetry, countertops, faucets, backsplashes, new black appliances were added. New light blue paint for the whole house. All new mechanicals (heat) changed out during gut rehab.
Property has demand for it. The last time the property had a vacant unit, a free RentLinx posting resulted in 8 leads in 10 days. Seller can verify the leads for buyer. Seller can also set up the marketing campaigns for buyer.
The property management company is strong. They are ethical, responsive and pro-active. Their fees are very reasonable at 8% of gross revenues , they do not charge for empty units.
No current violations with the City. Owner can verify for seller.


**The owner is also selling two other properties that he owns in Chicago. The property brochure and some other property info can be found in the links below:

1. 1523 E 74th Place
a. Link to property brochure & other reports in Dropbox: https://www.dropbox.com/sh/78zqksy09aorozz/AAB4ft_sKlfaP6NEhZpq_b1qa?dl=0
2. 7844 S Greenwood Ave
a. Link to property brochure & other reports in Dropbox: https://www.dropbox.com/sh/gfxyv14wavtx8uc/AAAEX_0QVyAR0hXguhc5b0JMa?dl=0
3. 253 W 43rd St
a. Link to property brochure & other reports in Dropbox: https://www.dropbox.com/sh/7r05wzdp3jrqce2/AAD2h8DC13gOP6Ipn8AC27Dra?dl=0

Interior Features

  • Square Feet: 850
  • Bedrooms: 3
  • Bathrooms: 1
  • Additional Rooms: 1
    • MasterBath
  • Floor Coverings
    • Tile
    • Hardwood
  • Appliances
    • Refrigerator
    • RangeOven

Exterior Features

  • Built in: 1918
  • Structure Type: Multi-Family
  • Lot Size: 0 Acres

Explore: South Shore

Neighborhood Quick Facts

  • Median Sale Price
    n/a
  • Commute via Transit:
    34.24%
  • Family Friendly Score
    n/a
  • Fun & Hip Score
    n/a

Area Schools

South Shore International College Prep High School
Grades 12
8/10
GreatSchools Rating
Chicago Vocational Career Academy High School
Grades 9-11
3/10
GreatSchools Rating
Madison Elementary School
Grades KG-8
2/10
GreatSchools Rating

Amenities

  • Transit
  • Restaurants
  • Grocery Stores
  • Bars & Nightlife
  • Parks
  • Healthcare
  • Sports & Recreation
  • Neighborhood information provided by Home Junction Inc. © 2019. Information deemed reliable but not guaranteed.
  • GreatSchools Ratings provided by GreatSchools.org
  • Disclaimer: “School attendance zone boundaries are supplied by Home Junction Inc. and are subject to change. Check with the school directly to verify enrollment eligibility.
  • All pictures, details or descriptions of any property, condition of title, value or otherwise is provided for informational purposes only and may not represent the true and current status of the property now or at the time of sale. Neither ForSaleByOwner.com, nor Seller’s Broker shall be liable for any allowance, adjustment or revision in value of any property based upon the failure of such property, its appliances, its fixtures or its floor plan to conform to any specific standard. ForSaleByOwner.com hereby disclaims any representations or warranties as it relates to all information found herein.
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