Opportunity to purchase a fully occupied, strong cash flowing 4 flat walk-able to downtown Elgin. The property features 1 two bedroom (plus den) unit on the top floor, 2 one bedroom units on the main floor, and 1 one bedroom unit on the garden level. Top floor and garden on individual GFA furnaces. Two long term MTM tenants are ~$150 per unit below market rent of comparable units in the building! Middle units on electric baseboard heaters. All units lightly remodeled (see photos). Tenants pay their own gas and electric. Individual electric meters and water heaters. Majority of water heaters are newer. Great return! Over 9.50% CAP Rate at list price (see additional info for underwriting). Stronger CAP raising all units to market! Building does not have parking but does have a side yard.
Property Map
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Property Details
Utilities
Heating Gas, Electric, Forced Air, Baseboard
Cooling
Water Lake Michigan
Sewer Sewer-Public
Additional Information
Payment Calculator
Listing History
10-25-2018
Listed at $225,000
11-03-2018
Status changed to Under Contract
12-07-2018
Status changed to Closed
12-07-2018
Sold at $215,000
Last Modified 12/7/18 4:13 PM
Nearby Transportation
Milwaukee West
0.4 mi
Hwy 20 West
1.0 mi
Hwy 20 East
1.1 mi
I 90 East
2.0 mi
I 90 West
2.1 mi
For More Information
(312) 528-9200
For more information about 311 E Chicago, Elgin, IL 60120 contact Corcoran Urban Real Estate.
Broker Reciprocity
Listing provided by Triton Realty Group LLC
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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.
