New Opportunity to purchase an updated red-brick 3-Flat in Chicago’s East Chatham neighborhood. This property is spacious. Each unit features four (4) bedrooms and one (1) bathroom. The building has updated kitchens, bathrooms and modern-style finishing throughout. The building has been updated throughout with mechanicals, plumbing, electrical systems and more. The unit upgrades include new kitchens, new bathrooms, updated flooring, new trim and much more. The property is located within walking distance of the CTA at 83rd & Cottage Grove, the 83rd Street Metra stop and various local amenities including the shops at Chatham Village Square. Schedule your showing today, this is a great building to own!
| Estimated Operating Proforma – Income/Expense | Pct | Monthly | Annual |
|---|---|---|---|
| Gross Potential Rent (estimated) | — | 3,720 | 44,640 |
| Total Income (estimated) | — | 3,720 | 44,640 |
| — Expenses — | — | — | — |
| Property Taxes – Tax Yr: 2020 | — | -309 | -3,706 |
| Insurance (estimated) | — | -417 | -5,000 |
| Property Management Fees (Pct of Gross Rent) | 8.00% | -298 | -3,571 |
| Allowance for Maintenance/Turnover/Vacancy (estimated Pct of Gross Rent) | 15.00% | -558 | -6,696 |
| Water/Sewer (estimated) | — | -135 | -1,620 |
| Trash Collection (estimated) | — | -32 | -378 |
| Common Area Utilities (estimated) | — | -30 | -360 |
| Common Area Maintenance (estimated) | — | -120 | -1,440 |
| Total Expenses (estimated) | — | -1,898 | -22,771 |
| —— | — | — | — |
| Net Operating Income (estimated) | — | 1,822 | 21,869 |