14 South Leavitt Street

Chicago, IL 60612

$1,725,000
Price
12
Beds
12
Baths
1
1/2 Bath
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Rare opportunity to find a newer construction apartment building at this price point with upside opportunity. This impressive 7-unit property, originally built as condos in 2004, offers an attractive real estate investment in a prime location. This solid brick and block construction building features elevator service to all floors. The building consists of six spacious 2-bedroom, 2-bathroom units and 1 store front (or 7th apt) and 6 attached garage spaces. The 7th unit features a separate entrance...Rare opportunity to find a newer construction apartment building at this price point with upside opportunity. This impressive 7-unit property, originally built as condos in 2004, offers an attractive real estate investment in a prime location. This solid brick and block construction building features elevator service to all floors. The building consists of six spacious 2-bedroom, 2-bathroom units and 1 store front (or 7th apt) and 6 attached garage spaces. The 7th unit features a separate entrance from the sidewalk, making it ideal for a small business office space or short-term rental. Located on the Near West Side of Chicago, walking distance to the United Center Arena, Madison St bus lines, Illinois Medical District, and expressways. Tenants will love the easy commutes and convenient access to amenities, entertainment, and transportation. The property currently operates at a 5.7% CAP rate, with a strong Net Operating Income (NOI) of $97,571. Rents are considerably below market and present the opportunity to increase cash flow and ultimately property value, with new leases. We project an NOI of $131,120 and corresponding CAP rate of 7.6% when new rents are put in place. With its newer construction, prime location, versatile floor plans, and the potential for future rent growth & value enhancement, this 7-unit apartment building represents a solid investment choice. Call today.
  1. Listed by Kevin Hinton • Keller Williams ONEChicago
  2. Listed by Ashley Carter • Keller Williams ONEChicago

Property Details for 14 South Leavitt Street

Area
CHI - Near West Side
Zoning
MULTI

Location

Listing Courtesy of Keller Williams ONEChicago
Add your commute
LISTING UPDATED: 03/18/2024 12:06 AM

Property Details for 14 South Leavitt Street

StatusActive
MLS #11997796
Days on Market77
Taxes$29,092 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Flats
Year Built2004
Lot Size0.08 AC / 3,300 SF
CountyCook County

Location

Listing Courtesy of Keller Williams ONEChicago
Add your commute

Building Information for 14 South Leavitt Street

Stories-Residences7Year Built2004Building Size-Lot Size0.08 AC / 3,300 SF

Payment Calculator

$11,838 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,414

Property Taxes

$2,424

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 14 South Leavitt Street

General Information
Addtl Parking Information
  • Indoor Parking: Attached
Location and General Information
  • Frontage Type: City Street, Alley Access
  • Information: None
Taxes and HOA Information
  • Additional Parcels: Yes
Property Information
Interior Features
  • Air Conditioning: Central Air
  • Heat/Ventilation: Gas
  • Misc Inside: Elevator/s Passenger
  • Num of Baths: 12.1
Exterior Features
  • Misc Outside: Balcony/ies
Property/Lot Information
  • Tenant Pays: Air Conditioning, Electricity, Heat
  • Built Before 1978: No
  • Approximate Age: 16-25 Years
  • Multi-Family Type: Flats
  • Lot Dimensions: 25X132
  • Lot Size Square Feet: 3300.0
  • Stories: 4
  • Construction: Brick, Concrete
  • Roof Structure: Flat
  • Foundation Details: Concrete Perimeter
  • Building Area Total: 8000
  • Conversion: N
Property and Assessments
  • Public Document Count: 4
  • Document Date: 2024-03-12T19:02:07
  • Photos Count: 42
  • Deconversion: Y
Miscellaneous
  • Current Use: Multi-Family
  • Land Amenities: Curbs and Gutters,Sidewalks
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 7
Income & Expenses
  • Electric Expense: $4,800.00
  • Fuel Expense: $.00
  • Gross Income: $180,600.00
  • Gross Scheduled Income: $180,600.00
  • Insurance Expense: $4,580.00
  • Maintenance Expense: $.00
  • Manager Expense: $.00
  • Electric Expense Source: Broker Projection
  • Expense Year: 2022
  • Total Annual Expense Source: Combination
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 0
  • Net Operating Income Year: 2022
  • Other Expense Source: Actual
  • Trash Expense Source: Actual
  • Total Monthly Income: 15050
  • Water Expense Source: Actual
  • Net Operating Income: $131,120.00
  • Operating Expense: $49,480.00
  • Other Expense: $2,369.00
  • Trash Expense: $1,894.00
  • Water Sewer Expense: $1,657.00
Unit 1
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 1
Unit 2
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 6
Unit 3
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 14 South Leavitt Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 14 South Leavitt Street

Taxable ValueLand$7,041Additions$90,968Total$98,009
Tax Record2022$20,227 ($1,686 / month)
Home Facts
StyleMulti-Family Res (5+ Units)CountyCOOKAPN17-18-101-093

Schools near 14 South Leavitt Street

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - 9 to 12
Public - 9 to 12
Rating
School
Distance
Dett Elementary School
PublicPK to 8

Marshall Metropolitan High School
Public9 to 12

Chicago Bulls College Prep
Charter9 to 12

CRANE MEDICAL PREP HS
Public9 to 12

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.

Similar Homes

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14 South Leavitt Street is a multi-family home for sale in Chicago, IL 60612. This property was listed for sale on March 12, 2024 by Keller Williams ONEChicago, it's currently listed at $1,725,000. It has been on the market for a total of 77 days and was last sold on April 29, 2011. This listing's school district is City Of Chicago School District 299. Nearby schools include Dett Elementary School, Marshall Metropolitan High School and Chicago Bulls College Prep. 14 South Leavitt Street is a 12-bed, 12.5-bath, multi-family home built in 2004.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams ONEChicago

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.