1938-42 Halsted Street

    Chicago, IL 60614
    • $2,395,000
    • STATUS: Active
    • ON SITE: 55 days
    • MLS #: 10627392
    UPDATED: 45 min ago
    $2,395,000
    • 0
      BEDS
    • 0.07
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1886
    County:

    School Ratings & Info

    Description

    HUGE VALUE-ADD OPPORTUNITY - 6 unit, 2 building complex on a sought-after Halsted Street double lot. Located in the heart of Chicago's affluent Lincoln Park neighborhood, this property is offered at an exceptionally high 5.74% cap rate. Currently 100% leased at below market rents and also contains 9 exterior parking spaces which can be leased month-to-month or rented out to Spot Hero/ParqEx (not included in income assertions). The 1938 side features THREE 2-bed/1-bath units. The 1942 side features TWO 2-bed/1-bath units as well as a 3-bed/2-bath duplex-up apartment. Opportunity to either renovate unit interiors and increase rental rates OR teardown and build new apartments or condominiums across the double lot using the existing RT-4 zoning. 90-day kick-out clause on all existing leases. Showings by appointment only and requires a minimum of 72 hours' notice. Register your interest today, this opportunity will not last long!

    Monthly Payment Calculator



    © 2020 Midwest Real Estate Data LLC. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Baz Network | Keller Williams Elite. Based on information submitted to the MRED as of 2020-03-31T14:50:59.48 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
    www.bazrealtynetwork.com/homes/102905926

    1938-42 Halsted Street Chicago, IL 60614

    • Price: $2,395,000
    • Status: Active
    • Updated: 45 min ago
    • MLS #: 10627392
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.07
    Acres
    1886
    Built
    Neighborhood:
    Chi - Lincoln Park
    County:
    Cook
    Area:
    Chi - Lincoln Park
    Property Description
    HUGE VALUE-ADD OPPORTUNITY - 6 unit, 2 building complex on a sought-after Halsted Street double lot. Located in the heart of Chicago's affluent Lincoln Park neighborhood, this property is offered at an exceptionally high 5.74% cap rate. Currently 100% leased at below market rents and also contains 9 exterior parking spaces which can be leased month-to-month or rented out to Spot Hero/ParqEx (not included in income assertions). The 1938 side features THREE 2-bed/1-bath units. The 1942 side features TWO 2-bed/1-bath units as well as a 3-bed/2-bath duplex-up apartment. Opportunity to either renovate unit interiors and increase rental rates OR teardown and build new apartments or condominiums across the double lot using the existing RT-4 zoning. 90-day kick-out clause on all existing leases. Showings by appointment only and requires a minimum of 72 hours' notice. Register your interest today, this opportunity will not last long!
    Exterior Features

    Construction Brick Foundation Concrete Frontage Access City Street Land Amenities Curbs And GuttersLighting/ExteriorSidewalksCable Ready Lot Dimensions 50X125 Number Of Parking Spaces 9 Roof Coverings Shingle Composition Roof Structure Pitched

    Interior Features

    Air Conditioning Central Air Miscellaneous Inside Laundry Room Number Of Bedrooms Type5 2 Number Of Bedrooms Type6 3 Number Of Bedrooms Type7 0 Number Of Bedrooms Unit1 2 Number Of Bedrooms Unit2 2 Number Of Bedrooms Unit3 2 Number Of Bedrooms Unit4 2 Number Of Dishwashers 6 Number Of Dryers 2 Number Of Fireplaces 1 Number Of Full Bathrooms Type1 1 Number Of Full Bathrooms Type2 1 Number Of Full Bathrooms Type3 1 Number Of Full Bathrooms Type4 1 Number Of Full Bathrooms Type5 1 Number Of Full Bathrooms Type6 2 Number Of Ranges 6 Number Of Refrigs 6 Number Of Rooms Unit Five 5 Number Of Rooms Unit Four 5 Number Of Rooms Unit Six 6 Number Of Rooms Unit1 5 Number Of Rooms Unit2 5 Number Of Rooms Unit3 5 Number Of Rooms Unit7 0 Number Of Stories 3 Number Of Units Apt Type1 1 Number Of Units Apt Type2 1 Number Of Units Apt Type3 1 Number Of Units Apt Type4 1 Number Of Units Apt Type5 1 Number Of Units Apt Type6 1 Number Of Units Apt Type7 0 Number Of Washers 2 Outdoor Parking 6-12 SpacesAssigned SpacesOpenPrivate Lot Repairs Decor Expense 0

    Property Features

    Age Older Assessment Includes WaterParking Built Before1978 YN Yes Current Use Residential-Multi-Family Electrical Service Separate Meters Electricity Expense 0 Expense Year 2017 Exterior Building Type Brick Fuel Expense 0 Gross Rental Income Amount 183300 Heat Ventilation GasSeparate Per Unit Insurance Expense 5952 Insurance Expense Source Actual Janitor Expense 0 Miscellaneous Outside Security LightingStorms And Screens (As Exist) Monthly Income Max1 1950 Monthly Income Max2 2400 Monthly Income Max3 2395 Monthly Income Max4 0 Monthly Income Max5 2500 Monthly Income Max6 3600 Net Oper Income Amount 140150 Net Operating Income Year 2017 Other Expense Source Actual Other Expenses 1200 Owners Assoc YN No Possession Closing Potential Use Condominium Sale Terms Conventional Tax Year 2018 Taxes 33751 Tenant Pays Air ConditioningElectricHeatHot Water Total Annual Exp 43150 Total Annual Expense Source Actual Total Annual Income 183300 Total Monthly Income 15275 Township North Chicago Type Multi Family Corridor-Exterior EntranceCorridor-Interior Entrance Unincorporated YN No Washer Dryer Lsd YN No Water Expense 2247 Water Expense Source Actual Zoning Type Multi

    Listing information © 2020 Midwest Real Estate Data LLC.
    Listing provided courtesy of Chase Real Estate Llc.


    © 2020 Midwest Real Estate Data LLC. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Baz Network | Keller Williams Elite. Based on information submitted to the MRED as of 2020-03-31T14:50:59.48 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
    Baz Network | Keller Williams Elite
    4544 W. 103rd Street
    Oak Lawn IL, 60453