1245 West Nelson Street
1245 West Nelson Street
$2,172,500
13
11
2
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—
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Closed 1/2/22
Description
6.9 CAP RATE QUEEN! It is hard to find a building that has been completed with such attention to detail and quality of work as 1245 W. Nelson. This outstanding 4-unit building was completely gut rehabbed in 2019 and fully occupied as soon as construction was complete. Almost all units renewed in 2020 with rent increases! No incentives ever required to rent these units. All bedrooms are large enough for queen beds and desks. And LOW LOW maintenance costs as everything is new! The property is located...6.9 CAP RATE QUEEN! It is hard to find a building that has been completed with such attention to detail and quality of work as 1245 W. Nelson. This outstanding 4-unit building was completely gut rehabbed in 2019 and fully occupied as soon as construction was complete. Almost all units renewed in 2020 with rent increases! No incentives ever required to rent these units. All bedrooms are large enough for queen beds and desks. And LOW LOW maintenance costs as everything is new! The property is located on a quiet one way Lakeview street within walking distance to the EL, Southport Corridor, and all that Lakeview and Lincoln Park have to offer. The front building is comprised of two 4 bed / 3.5 bath duplex units: 1F is a duplex down and 2F is a duplex up. The rear building is also comprised of two units: 1R and 2R. Unit 1R is a 2 bed/2 bath English garden simplex unit that is only a few steps below grade. Unit 2R is a 3 bed / 3 bath duplex up. All units have private entrances and a deck. Property improvements: - new 2" water service with meter vault and booster pump - new gas service with 4 meters - new sewer lines on the property and from building to main sewer in street - new 400amp electrical service with 5 meters - Each building has new overhead sewers, and completely new plumbing, gas piping, electrical, and low voltage. - New mechanicals including individual high efficiency furnaces, humidifiers, air conditioners, and hot water tanks for each unit - New Steel porch with trex decking - Each unit has a deck. Units 1F and 2F have private decks, and units 1R and 2R have a shared deck. - A concrete stairwell with drains has been added and concrete walkways have been rebuilt per plans. - New Iron fence with key codes for each building - Schlage locks with master lock key system - 4 security cameras and outdoor lighting - Professionally landscaped - 1F 4 bed / 3.5 bath duplex down, 2,000sqft $4400/month Lease end 5/31/2022 2F 4 bed / 3.5 bath duplex up, 2,019sqft $4800/month Lease end 4/30/2022 1R 2 bed / 2 bath English garden, 900sqft $2150/month Lease end 5/31/2022 2R 3 bed / 3 bath duplex up, 1,435sqft $3,500/month Lease end 5/31/2022
Property Details for 1245 West Nelson Street
Area
CHI - Lake View
TownshipLake View
OwnershipFee Simple
Num Of Cars0.0
Heat/FuelForced Air
ZoningMULTI
Location
LISTING UPDATED: 01/04/2022 09:35 AM
Property Details for 1245 West Nelson Street
Status | Closed |
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MLS # | 11219899 |
Days on Market | 105 |
Taxes | $19,549 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Two to Four Units / 2 Flat |
Year Built | 1890 |
Lot Size | 0.07 AC / 2,975 SF |
County | Cook County |
Location
Building Information for 1245 West Nelson Street
Stories-Residences4Year Built1890Building Size-Lot Size0.07 AC / 2,975 SF
Payment Calculator
$13,485 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 1245 West Nelson Street
Property History for 1245 West Nelson Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1245 West Nelson Street
Taxable ValueLand$52,062Additions$56,275Total$108,337
Tax Record2022$22,283 ($1,857 / month)
Home Facts
Baths2Total Finished SqFt1,604 SqFtAbove Grade Finished SqFt1,604 SqFtStories1Lot Size2,975 SqFtStyleMulti-Family Res (5+ Units)Year Built1931CountyCOOKAPN14-29-115-005
Schools near 1245 West Nelson Street
This home is within City Of Chicago School District 299.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 8 | |||
Public - | PK to 8 |
Rating | School | Distance |
---|---|---|
Harriet Tubman Elementary School PublicPK to 8 | ||
Lincoln Park High School Public9 to 12 | ||
Hawthorne Elementary Scholastic Academy PublicK to 8 | ||
Inter-American Elementary Magnet School PublicPK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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