1428 West Erie Street

Chicago, IL 60642

$785,000
Price
5
Beds
3
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Property Details for 1428 West Erie Street

StatusComing Soon
Year Built1890
DOM-
Compass TypeMulti Family
MLS Type-
Lot Size-
Taxes$9,208.13 / year
Condo/Co-op Fees-
HOA Fees-
CountyCook County

Listing Agent

Contact Agent(s)

Description

Excellent investor opportunity in West Town!
3 unit + 1 commercial space rented to Zip Car
Rent Roll: $5,575 monthly, $67,000 annual
1F: $1,500, 1 bed, 1 bath
1R: $1,500, 1 bed, 1 bath
2F: $2,300, 3 bed, 1 bath
Driveway 1: $175 (will be increasing contract to $225 in June)
Driveway 2: $100 (left side of driveway)
Garage: $300 (full garage usage for storage + motorcycle repair)
Expenses: $800 monthly, $9,600 annual
taxes: $700/month
insurance: $80/month
common area utilities: $21/month
Total Net Income: $57,500
...
Listing Price: $785,000
Cap Rate: 7.3%
Whopping 7.3% cap rate! Legal 3 unit + driveway space leased to Zip Car. Never a single vacancy in 10+ years. Easy to rent! Hot West Town neighborhood - walking distance to dog park. Units have been upgraded but there's room to add value and increase rents! Improvements include: New HVAC, new water heater, new floors, etc. Sit back and collect $5k+ per month or pour new concrete, clean up the courtyard, re-do the front porch and viola, you can increase rents! Out of state investor maintained this property remotely for years without headache. This is the perfect property for all investment appetites, big or small. Seller financing option is available. See list broker for more details. Showings to begin week 1/14/19.
For more information, please contact Shannon Kelly 312.330.7196, Shannon.Kelly@Compass.com!

Amenities

DryerWasherAir ConditioningGas HeatHardwood FloorsCarpet FloorsTile FloorsCrawl Space

Location

Listing Agents

  1. Shannon Kelly

    Listing Agent

    Compass

Building Information for 1428 West Erie Street

Stories2Residences3Year Built1890Building Size3,125 SF / 25' x 125'Lot Size-

Payment Calculator

$3,591 per month

30 year fixed, 3.51% Interest

Principal and Interest

$2,824

Property Taxes

$767

HOA Dues

$0

Similar Homes

Property History for 1428 West Erie Street

DateEvent & SourcePriceAppreciation
Apr 10, 2015Sold

MRED #08865922

$470,000
Mar 20, 2015Contingent

MRED #08865922

Mar 19, 2015Listed (Active)

MRED #08865922

$475,000
DateEvent & SourcePrice
04/10/2015
Sold

MRED #08865922

$470,000
03/20/2015
Contingent

MRED #08865922

03/19/2015
Listed (Active)

MRED #08865922

$475,000

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

Public Records for 1428 West Erie Street

Taxable ValueLand$9,375Additions$33,400Total$42,775
Tax Record2016$8,567
Home Facts
Baths3Finished Sq.Ft.2,000 SqFtStories2Lot Size3,125 SqFtStyleMulti-Family Res (5+ Units)Year Built1890CountyCookAPN17081130190000

Schools near 1428 West Erie Street

AllElementaryMiddleHigh
SchoolTypeGradesDistanceRating
Golder College PrepCharter9-120.1 mi
8
Rauner College PrepCharter9-120.2 mi
9
Otis Elementary SchoolPublicPK-80.2 mi
3
Ogden Int High SchoolPublic6-120.3 mi
6

Golder College Prep

9-12, 0.1 mi, Charter

8

Rauner College Prep

9-12, 0.2 mi, Charter

9

Otis Elementary School

PK-8, 0.2 mi, Public

3

Ogden Int High School

6-12, 0.3 mi, Public

6

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 Sold Homes

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