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16 Properties Within 0.5 miles of: 311 E Chicago, Elgin

311 E Chicago
Elgin, IL 60120

  • 5 Beds
  • 4 Baths
  • Built In 1900
Price

$215,000

Taxes
$4,521  
Assessments
 
Beds
5  
Baths
4  
Rooms
13  
Type
Multi Unit
Sq. Ft.
n/a  
Lot Size
3485 SF  
Built
1900  
Neighborhood
Elgin  
MLS
#10121752
Status
Sold (12/7/2018)

Property Description

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

Property Details

Utilities

  • Heating Gas, Electric, Forced Air, Baseboard
  • Cooling
  • Water Lake Michigan
  • Sewer Sewer-Public

Additional Information

Payment Calculator

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Principal & Interest
$0
Property Tax
$0
Assessments
$0
Home Insurance
$0
Mortgage Insurance
$0

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

  • Bus 554 < 0.1 mi
  • Bus 554 < 0.1 mi
  • Bus 542 0.1 mi
  • Bus 543 0.1 mi
  • Bus 543 0.1 mi
  • Bus 541 0.1 mi
  • Bus 541 0.1 mi
  • Bus 542 0.2 mi
  • Bus 547 0.3 mi
  • Bus 547 0.3 mi
  • Bus 801 0.4 mi
  • Bus 801 0.4 mi
  • Bus 546 0.4 mi
  • Bus 546 0.4 mi
  • Bus 603 0.4 mi
  • 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
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