San Francisco based investor owns duplexes/triplexes in Chicago, and is selling few of them. This property is in a decent neighborhood, has a good property management company managing it, and is a 2-unit. Each unit is 5 Bed 1.5 bath. Both units are rented at the time this listing was made. The Rents provided on Page 3 for both units are ACTUALS. Both tenants have been in the units for over a year, so are mature tenants with a solid history of paying rents. After financing, the potential returns (estimates) are over 24% cash-on-cash returns, not counting either principal pay down or appreciation. Owner is selling because he is now investing in much larger Multifamily projects and moving out of smaller properties.

This property is located very close to Bronzeville, one of the hottest new construction areas in Chicago. You will see that this property can appreciate a great deal in coming years.


About the property
Low maintenance Hardwood floors. Large living room (see pics).
Property went through a $70K rehab in late 2016 (owner has all bills). The pictures shown were taken immediately after the rehab. Brand new carpet and wood flooring on the ground floor. Brand new porches. Brand new paint.
Property has demand for it. After rehab, both units were leased out within 45 days at market rate. Seller kept track of lead flow and can verify the leads for buyer.
The property management company is strong. They are ethical, responsive and pro-active. Their fees are very reasonable at 8% of gross revenues plus leasing cost, they do not charge for empty units.
Turnkey providers are selling 3 bedroom 2-flats in the same area for 180K+. Comps are available, please ask.


**The owner is also selling two other properties that he owns in Chicago.**

The property brochure and some other property info can be found in the links below:

1. 253 W 43rd St
a. Link to property brochure & other reports in Dropbox: https://www.dropbox.com/sh/7r05wzdp3jrqce2/AAD2h8DC13gOP6Ipn8AC27Dra?dl=0
2. 1523 E 74th Place
a. Link to property brochure & other reports in Dropbox: https://www.dropbox.com/sh/78zqksy09aorozz/AAB4ft_sKlfaP6NEhZpq_b1qa?dl=0
3. 7844 S Greenwood Ave
a. Link to property brochure & other reports in Dropbox: https://www.dropbox.com/sh/gfxyv14wavtx8uc/AAAEX_0QVyAR0hXguhc5b0JMa?dl=0

Interior Features

  • Stories: 2
  • Square Feet: 1,200
  • Bedrooms: 5
  • Bathrooms: 1.5
  • Additional Rooms: 1
    • MasterBath
  • Floor Coverings
    • Carpet
    • Hardwood
  • Appliances
    • Dishwasher

Exterior Features

  • Structure Type: Other
  • Lot Size: 0 Acres
  • Exterior Keywords:
    • Porch

Explore: Fuller Park

Neighborhood Quick Facts

  • Median Sale Price
    n/a
  • Commute via Transit:
    50.69%
  • Family Friendly Score
    n/a
  • Fun & Hip Score
    n/a

Area Schools

Phillips Academy High School
Grades 9-12
6/10
GreatSchools Rating
Hendricks Elementary Community Academy
Grades PK-8
5/10
GreatSchools Rating

Amenities

  • Transit
  • Restaurants
  • Grocery Stores
  • Bars & Nightlife
  • Parks
  • Healthcare
  • Sports & Recreation
  • Neighborhood information provided by Home Junction Inc. © 2019. Information deemed reliable but not guaranteed.
  • GreatSchools Ratings provided by GreatSchools.org
  • Disclaimer: “School attendance zone boundaries are supplied by Home Junction Inc. and are subject to change. Check with the school directly to verify enrollment eligibility.
  • All pictures, details or descriptions of any property, condition of title, value or otherwise is provided for informational purposes only and may not represent the true and current status of the property now or at the time of sale. Neither ForSaleByOwner.com, nor Seller’s Broker shall be liable for any allowance, adjustment or revision in value of any property based upon the failure of such property, its appliances, its fixtures or its floor plan to conform to any specific standard. ForSaleByOwner.com hereby disclaims any representations or warranties as it relates to all information found herein.
  • The information available on this page is for marketing purposes only.
  • Please contact the Listing Agent or Seller directly for inquiries regarding this property and/or to make an offer.
  • Fraud & Scam Awareness
    Unfortunately, there are people that will use internet sites like ForSaleByOwner.com to run all manner of scams on users. We do all that we can to prevent the willful misuse of our platform, however; every day, the scams get more and more sophisticated. We ask that our users be cognizant of the risk and review the following basic ways to recognize and avoid being scammed.
  • Recognizing and Avoiding Scams:

    • Use secure, traceable transactions when making payments - Do not pay a deposit by wire transfer, prepaid money card, gift card, or other non-traditional payment method. Also, refuse to make "overpayments" and never enter into "handshake" deals without a contract.
    • Don't accept suspect cashier/certified checks or money orders - Banks will process and cash the fakes, then hold you responsible.
    • Never give out financial or personally identifiable information - This includes banking and credit card information, your birthdate, Social Security/Social Insurance Numbers, PayPal account etc.
    • Suspicious communications - Watch for parties communicating using poor grammar, spelling or those who send nonsensical messages. Be wary of parties that are only willing to text/email and those that will never speak on the phone or that refuse to meet in person. Generally these people will claim to be "travelling" and unavailable to talk or located in a foreign country and unable to speak other than via text or email.
    • Deals Too Good to be True - If the list price is obviously too low, or the terms are too generous as compared to the market, it’s likely a scam.
    • Don’t be pressured to act immediately - Scammers typically try to make you think a listing is in high demand in order to push you into immediate action without consulting family, friends, or financial advisors. Say no to high pressure sales tactics.
  • Who Should I notify about fraud or scam attempts?

Mortgage Calculator

Let us help.

Call us toll free at
1 (888) FOR-SALE (1-888-367-7253)

Monday – Friday 8am - 8pm (Eastern Time)
Saturday – 11am – 3pm (Eastern Time)
Sunday – Closed

Tell me more about this property. Contact the seller