Residential Income for Sale: 814 W Newport, Chicago, IL 60657
9 beds
$1,550,000
$1,550,000
814 W Newport,
Chicago, IL 60657
9 beds
$1,550,000
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Price:
$1,550,000
Est. payment: Skip to Mortgage Calculator
Type Residential Income
Style Greystone
Beds 9
Year Built 1900
City Chicago
County Cook
School District 299
MLS 12188936
Status Active Under Contract
Stunning Rehabbed Greystone 3-flat + tall basement on a quiet 1-way street steps from Wrigley Field & Halsted! Great investment or perfect for a live-in owner. Exceptional income and 2 of the 3 units have been tastefully rehabbed including 2 newer kitchens with modern, flat-panel & shaker-style cabinets, granite countertops & stainless-steel appliances, and newer baths. ALL 3 UNITS HAVE 3 BEDROOMS, IN-UNIT LAUNDRY, GFA w/ CENTRAL-AIR CONDITIONING & 2 BATHROOMS, Large formal living room & dining rooms with Hardwood Floors throughout. All New Windows in 2011, newer Mechanicals (newer plumbing supply, some new electric, etc) & more! VERY Tall Basement and GENEROUS RM-5 ZONING (FAR = FLOOR AREA RATION OF 2.0) will allow for further income by expanding up (for a large duplex-up apartment) and/or down into the tall basement for a 4th, legal apartment OR combine with the first-floor unit to create a very large duplex-down unit! A unique side & back alley allows for 4 full exterior parking spots (with room to expand for a 5th parking spot) all 4 are currently rented through Spot-Hero with an outstanding annual income of $23K! (each spot averages $479 per month per spot). Excellent location with a short walk to Wrigley Field and steps from all the Wrigleyville & Lakeview amenities on Halsted & Clark including great area restaurants, coffeehouses, shopping, nightlife, parks, lakefront, EL stop, schools & more! - Top Floor/UNIT #3; 3-bed/1.5-bath (can easily add a shower for 2nd full bath) - lease exp 7/31/25 @ $2,990 per month...UNIT #2; 2-bed/2-bath and was just rented @ $3,200 per month ...UNIT #1; 3-bed/2-bath (lease exp 7/31/25 @ $2,670 per month). 4 gas meters and 4 electric panels. ***EXCELLENT TOTAL ANNUAL INCOME of $129,320 minus - $31,354 in total expenses = $97,966 (NOI) TOTAL ANNUAL NET OPERATING INCOME for a Solid 6.1% CAP rate.***Also, investing an additional $120K in creating a legal 4th garden unit which is allowed under the current R5 zoning (existing ceiling height is very tall @ 7'-8") & 5th parking spot brings the CAP rate up to 8%!!
Room Features
Basement Description Unfinished, Exterior Access, Bathroom Rough-In
Lot & Building Features
Architecture Greystone
Heating Forced Air, Natural Gas
Parking Description Space/s
Sewer Public Sewer
Tax Year 2022
Water Lake Michigan, Public
Lot Dimensions 25 X 117 ft
Community and Schools
Elementary School 299
Senior High School Lake View High School
Price History of 814 Newport, Chicago, IL
Date | Name | Price | Difference |
---|---|---|---|
12/31/1969 | Listing Price | $1,550,000 | N/A |
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed. |
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814 Newport (MLS #12188936) is a greystone residential income listing located in Chicago, IL. This property was listed on 10/15/2024 and has been priced for sale at $1,550,000.
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: Compass |