1942 North Lincoln Avenue

Chicago, IL 60614

$1,525,000
Price
6
Beds
7
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Stunning seven unit property in the heart of historic Lincoln Park. Unit count consists of six one bedroom apartments and one studio. Recent improvements include adding central heat/air, renovating kitchens and baths in five of the apartments, and improving the common area hallways. Three parking spaces in the rear for additional revenue as well as coin laundry. Professional management in place and can be transferred to new buyer. Sales packet with more information available upon request. Current...Stunning seven unit property in the heart of historic Lincoln Park. Unit count consists of six one bedroom apartments and one studio. Recent improvements include adding central heat/air, renovating kitchens and baths in five of the apartments, and improving the common area hallways. Three parking spaces in the rear for additional revenue as well as coin laundry. Professional management in place and can be transferred to new buyer. Sales packet with more information available upon request. Current rent roll of $11,750 with room to easily push past $13k by end of 2024.
  1. Listed by Alan Cosby • Westward 360
  2. Listed by Mohammed Khan • Westward 360

Property Details for 1942 North Lincoln Avenue

Area
CHI - Lincoln Park

Location

Listing Courtesy of Westward 360
Add your commute
LISTING UPDATED: 04/28/2024 10:14 AM

Property Details for 1942 North Lincoln Avenue

StatusContingent
MLS #12021480
Days on Market19
Taxes$22,185 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Flats
Year Built1880
Lot Size0.06 AC / 2,640 SF
CountyCook County

Location

Listing Courtesy of Westward 360
Add your commute

Building Information for 1942 North Lincoln Avenue

Stories-Residences7Year Built1880Building Size-Lot Size0.06 AC / 2,640 SF

Payment Calculator

$10,171 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,323

Property Taxes

$1,849

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1942 North Lincoln Avenue

General Information
Addtl Parking Information
  • Outdoor Parking: 1-5 Spaces
  • Open Parking Spaces: 3.0
Location and General Information
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air, Window Unit(s)
  • Heat/Ventilation: Electric
  • Num of Baths: 7.0
Property/Lot Information
  • Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Scavenger
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Flats
  • Lot Dimensions: 24X110
  • Stories: 3
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 12
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: $2,137.00
  • Fuel Expense: $1,508.00
  • Gross Income: $142,800.00
  • Gross Scheduled Income: $142,800.00
  • Insurance Expense: $4,142.00
  • Maintenance Expense: $2,100.00
  • Manager Expense: $5,566.00
  • Electric Expense Source: Actual
  • Expense Year: 2023
  • Total Annual Expense Source: Broker Projection
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Janitor Expense: 1200
  • Manager Expense Source: AC
  • Repairs-Decor Expense Source: Broker Projection
  • Trash Expense Source: Actual
  • Total Monthly Income: 11900
  • Water Expense Source: Actual
  • Net Operating Income: $87,900.00
  • Operating Expense: $54,900.00
  • Other Expense: $.00
  • Trash Expense: $2,200.00
  • Water Sewer Expense: $3,908.00
Unit 1
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 6
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 1
Unit 3
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 0
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0

Property History for 1942 North Lincoln Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1942 North Lincoln Avenue

Taxable ValueLand$32,700Additions$75,160Total$107,860
Tax Record2022$22,185 ($1,849 / month)
Home Facts
Baths3Total Finished SqFt3,462 SqFtAbove Grade Finished SqFt3,462 SqFtStories3Lot Size2,616 SqFtStyleMulti-Family Res (5+ Units)Year Built1878CountyCOOKAPN14-33-401-028

Schools near 1942 North Lincoln Avenue

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 9 to 12
Public - K to 8
Public - PK to 8
Rating
School
Distance
Lincoln Elementary School
PublicK to 8

Lincoln Park High School
Public9 to 12

Lasalle Elementary Language Academy
PublicK 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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

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 Westward 360

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.