Attention INVESTORS!!!: Cap rate=10.43%. Take your money out of the stock or crypto market before both crash and put it in a solid, income producing investment for years to come. The $2,000 monthly rent is paid almost entirely by the Chicago Housing Authority (CHA) and the lease goes until 03/31/2020. Much better than that money market account that pays you 0.00001%. Property has been inspected several times by the CHA and their quality control department. All type of repairs have been made to this 6 bedrooms- 2.5 bathrooms huge home with 3 stories of living space. New roof, new furnace, boiler room, new carpet, paint, etc. Check the map for location just 5 blocks west from Kedzie and the park where there are several new construction homes. Enjoy the cash flow for a few years, then cash out selling it for top dollar few years from now. 4 lines of buses take you anywhere: Grand, Chicago, Division and Homan/Kimball lines. Pictures with metal in windows were taken before tenant moved in.
Property Map
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Property Details
Rooms
Room
Level
Flooring
Size
Living Room
Main
Carpet
14x10
Dining Room
Main
Carpet
combo
Kitchen
Main
Ceramic Tile
10x10
Bedroom (master)
2nd
Carpet
14x10
Bedroom (2nd)
2nd
Carpet
10x10
Bedroom (3rd)
2nd
Carpet
14x7
Bedroom (4th)
Main
Carpet
10x15
Recreation Rm
Basement
14x10
5th Bdrm
Basement
10x12
6th Bdrm
Basement
10x12
Utilities
Heating Gas, Forced Air
Cooling None
Water Lake Michigan
Sewer Sewer-Public
Additional Information
Appliances
Oven/Range, Microwave, Dishwasher, Refrigerator
Parking
Garage Door Opener(s), Garage On Site, Owned
Payment Calculator
Listing History
02-03-2018
Listed at $230,000
09-10-2018
Status changed to Under Contract
11-09-2018
Status changed to Expired
11-15-2018
Status changed to Closed
11-14-2018
Sold at $230,000
Last Modified 11/15/18 1:51 PM
Nearby Transportation
Bus 65
0.1 mi
Bus 70
0.2 mi
Bus 82
0.2 mi
Bus 66
0.4 mi
Bus 52
0.5 mi
Bus 53
0.6 mi
Bus 72
0.6 mi
Bus 94
0.7 mi
Bus 73
1.2 mi
Union Pacific West
0.9 mi
Green Line
1.1 mi
I 290 West
1.8 mi
I 290 East
1.9 mi
I 90 East
2.3 mi
I 94 East
2.3 mi
I 90 West
2.4 mi
I 94 West
2.4 mi
I 55 South
4.8 mi
I 55 North
4.8 mi
For More Information
(312) 528-9200
For more information about 1051 N Drake, Chicago, IL 60651 contact Corcoran Urban Real Estate.
Broker Reciprocity
Listing provided by 24 Hour Real Estate LLC
All information provided is deemed reliable but is not guaranteed and should be independently verified.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Midwest Real Estate Data LLC. Real estate listings held by brokerage firms other than Urban Real Estate are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.
