2 Duplex Unit RT4 Condo – Lincoln Park

2 Duplex Unit RT4 Condo – Lincoln Park

2 Duplex unit – Condo – Lincoln Park

Classic Chicago Brick- 3 Story configured for high end market.

In Lincoln Park, these large luxury condo units are in big demand. Nicely finished duplex condos in good locations often are sold out before construction is complete.

 

Status:              Proposed – Updated Sep 29, 2022

Property Type:     2 Duplex Unit Condo/Rental

Sub-Type:            Condo / Residential Income

Building Size:        4,870 SF 

Document List For Investors

FINANCIAL SUMMARY – PRO FORMA  2022-23  

3 Unit RT4 Condo/Rental Lincoln Park

3 Unit RT4 Condo/Rental Lincoln Park

3 unit – Condo/Rental Lincoln Park

Classic Chicago Brick 3 unit – 3 Story + Basement stands the test of time.

In this hot area, these luxury condo units are in big demand. Nicely finished condos in good locations often are sold out before construction is complete.

These buildings are also perfect as owner occupied rental properties. This is an excellent way to move into a brand new “condo” type unit and at the same time build wealth quickly by taking advantage of tax benefits and having tenants helping pay down your mortgage.

Status:              Proposed – Updated Sep 29, 2022

Property Type:     3 Unit Condo/Rental

Sub-Type:            Condo / Residential Income

Building Size:        5,000 SF 

Document List For Investors

FINANCIAL SUMMARY – PRO FORMA  2022-23  

Rental Scenario – Pro Forma  2022-23  

6 Unit RT4 Condo/Rental Lincoln Park

6 Unit RT4 Condo/Rental Lincoln Park

6 Unit RT4- Condo/Rental Lincoln Park

Classic Chicago Brick 6 unit – 3 Story + Basement stands the test of time has In this hot area, these luxury condo units are in big demand. Nicely finished condos in good locations often are mostly sold out before construction is complete.

6 unit buildings are a bit more efficient than 3 unit  buildings since the entrance and stairs are shared between more units. Floorpans are also improved because the units can be a bit wider in front and back.

Because units are oriented back to back masonry costs are lower (saves 2 exterior side walls, replaced with 1 demising wall) as compared to two separate 3 unit buildings. 

Status:    Proposed – Updated Sep 2022

Property Type:        Residential

Sub-Type:           6 Unit Condo/Rental

Building Size:        10,000 SF 

Document List For Investors

FINANCIAL SUMMARY – PRO FORMA  2022-23  

Rental Scenario – Pro-Forma  2022-23  

2 Duplex Unit RT4 Condo – Lincoln Park

3 Unit RT4 Condo/Rental Lincoln Square / Bowmanville

3 unit – Condo/Rental East Village-West Town

Classic Chicago Brick 3 unit – 3 Story + Basement stands the test of time and is perfect for owner occupied rental or Condos

These units are in demand both as condos and rentals in this hot area. Nicely finished condos have sold out as soon as construction is finished.

CAP rates for older 3 unit buildings in West town are at currently 4.08, so our projection of finished value at 4.2 CAP is conservative. 

Status:              Proposed – Updated Feb 2022

Property Type:        3 Condo/Rentals

Sub-Type:            Residential Income

Building Size:        5,000 SF 

Actual Cap Rate:            5.15%

Document List For Investors

FINANCIAL SUMMARY – PRO FORMA  2022-23  

These are nearby comps for condos in similar buildings. 924 Wood St is probably most similar and just completed.

Listing Photo
Temporarily No Showings
1839 W Iowa St Unit 2
Chicago, IL 60622
2
Beds
2
Baths
1400
Sqft
MLS #: 11244282
$499,000

Listing Photo
Active
877 N Marshfield Ave Unit 2
Chicago, IL 60622
2
Beds
2
Baths
N/A
Sqft
MLS #: 11227484
$539,000

Listing Photo
Contingent
1537 W Walton St Unit 3
Chicago, IL 60642
2
Beds
2
Baths
N/A
Sqft
MLS #: 11294839
$724,900

Listing Photo
Contingent
924 N Wood St Unit 3
Chicago, IL 60622
2
Beds
2
Baths
1272
Sqft
MLS #: 11262814
$689,000

Listing Photo
Active
1423 W Huron St Unit 2
Chicago, IL 60642
2
Beds
2
Baths
N/A
Sqft
MLS #: 11235934
$550,000

Listing Photo
Active
1423 W Huron St Unit 1
Chicago, IL 60642
3
Beds
3
Baths
2500
Sqft
MLS #: 11245829
$845,000

Listing Photo
Contingent
1106 N Marshfield Ave Unit 2
Chicago, IL 60622
2
Beds
2
Baths
N/A
Sqft
MLS #: 11309968
$585,000

Listing Photo
Contingent
924 N Wood St Unit 1
Chicago, IL 60622
3
Beds
2.1
Baths
2312
Sqft
MLS #: 11262823
$799,000

Listing Photo
Contingent
924 N Wood St Unit 2
Chicago, IL 60622
2
Beds
2
Baths
1271
Sqft
MLS #: 11294730
$549,000

 

3 Unit Wide Lot RT4 Condo/Rental Lincoln Park

3 Unit Wide Lot RT4 Condo/Rental Lincoln Park

3 unit – Condo/Rental Lincoln Park

Classic Chicago Brick 3 unit – 3 Story + Basement stands the test of time.

In this hot area, these luxury condo units are in big demand. Nicely finished condos in good locations often are sold out before construction is complete.

These buildings are also perfect as owner occupied rental properties. This is an excellent way to move into a brand new “condo” type unit and at the same time build wealth quickly by taking advantage of tax benefits and having tenants helping pay down your mortgage.

Status:              Proposed – Updated September 29, 2022

Property Type:     3 Unit Condo/Rental

Sub-Type:            Condo / Residential Income

Building Size:        6,000 SF 

Document List For Investors

FINANCIAL SUMMARY – PRO FORMA  2022-23  

Rental Scenario – Pro Forma  2022-23