ATTENTION: Investors, savvy Buyers, or Builders! Check out this rare opportunity! The subject property has two small single-family homes on two separate parcels with two separate PIN #'s (0918401023 & 0918401013) Lot sizes: (52 X 200 & 52 X 69) with a combined lot size of 52 X 269. Each parcel has a small cottage, the front property is a 2 Bedroom/1 Bathroom/Carport, and the back property has a 1 Bedroom/1 Bathroom with a side driveway and separate parking apron. Both homes are currently rented on month-to-month leases with both tenants wanting to stay in place. Both are long-time tenants and the current rents are $1,100/Front & $675/Back for a combined total income of $21,300/year. The Front parcel is on Lake water & public sewer, the Back parcel is on Lake water and Septic tank at the rear corner of the property. Both properties have storage sheds & common driveway access with convenient parking and turnaround capability/guest parking etc. All exteriors have been updated with the replacement of siding, roofs, windows, and HVAC with a decent amount of life left on all of them. Current Expenses: Lawn Care $1,900; Insurance $1,800; Water & Sewer $1,800; Combined Taxes $6,410; Miscellaneous $1,000 for about $12,900 in expenses. SOME GREAT OPTIONS TO CONSIDER: 1. Buyer could live in the front house and rent out the back house (keep current tenant) to help pay off a 15-year mortgage in record time. 2. An Investor could rent out both homes and collect over $20,000+ in yearly income and write off most of the yearly expenses. 3. A Builder could build on the Front parcel (no basement per Village of DG FEMA MAP) and possibly keep the Back parcel as a cottage or expand it and go up to create a generational living situation on the property. This unique opportunity offers many investment options to fit your needs. Enjoy living in the heart of DG with a walk to top-rated DG Schools and in a lovely area of higher-end homes. NOTE: We do not wish to disturb the current tenants - DO NOT WALK THE PROPERTY WITHOUT AN APPOINTMENT! We will schedule times to gain access to the properties ONLY for serious interested parties. If there are too many interested, we will schedule a specific day & time segment to accommodate showing to All. Ideally, both Tenants would like to remain in place but can vacate upon the sale of the property within a reasonable timeframe for closing. Builders, please contact Mario Dovalina at DG Building & Planning Dept regarding any FEMA regulations. No Keybox, appointment only. We will need a minimum of 48-hour notice for scheduling-Afternoons are preferred.
Property Map
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Hardwood Floors, Wood Laminate Floors, First Floor Bedroom, First Floor Full Bath
Appliances
Range, Refrigerator, Washer, Dryer
Parking
4 Parking Spaces, Off Street, Side Apron, Parking On Site, Parking included in price
Schools
South High School (99), O Neill Middle School (58), Hillcrest Elementary School (58)
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Listing History
04-12-2024
Listed at $269,900
04-19-2024
Status changed to Under Contract
Last Modified 4/19/24 10:06 AM
Nearby Transportation
Burlington Northern
1.2 mi
Hwy 355 North
1.4 mi
Hwy 355 South
1.5 mi
I 88 West
2.5 mi
I 88 East
2.5 mi
Hwy 83 South
3.6 mi
I 55 South
3.8 mi
Hwy 83 North
3.8 mi
I 55 North
4.0 mi
For More Information
(312) 528-9200
For more information about 5938 Dunham, Downers Grove, IL 60516 contact Corcoran Urban Real Estate.
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Listing provided by Platinum Partners Realtors
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