Residential Income for Sale: 1807 N Lawndale, Chicago, IL 60647 SOLD
9 beds
$1,065,000
$1,065,000
1807 N Lawndale,
Chicago, IL 60647 SOLD
9 beds
$1,065,000
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Selling Price: $1,065,000
Original List Price: $1,175,000
Sold at 90.6% of list price
Sold Date: 11/13/2024
Type Residential Income
Beds 9
Year Built 1888
City Chicago
County Cook
School District 299
MLS 12004857
Status Closed
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.
Room Features
Basement Description Finished, Exterior Access
Lot & Building Features
Heating Forced Air, Natural Gas
Parking Description Garage
Sewer Public Sewer
Tax Year 2022
Water Lake Michigan
Lot Dimensions 25X125 ft
Community and Schools
Elementary School Darwin Elementary School
Senior High School Clemente Community Academy Senio
Price History of 1807 Lawndale, Chicago, IL
Date | Name | Price | Difference |
---|---|---|---|
04/26/2024 | Price Adjustment | $1,065,000 | 9.36% |
12/31/1969 | Listing Price | $1,175,000 | N/A |
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed. |
Listed by Adonis Realty LLC, Anthony Macias
Sold by Kale Realty, Brandon Suzuki
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Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information courtesy of: Adonis Realty LLC |