2454 N Nordica Avenue
Chicago, IL 60707

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Description

This extraordinary rental investment opportunity features six 2-bedroom, 1-bath units, two 1-bedroom, 1-bath units, and a SEPARATE, FREE STANDING 2-BEDROOM, 1.1 BATH SINGLE FAMILY HOME with full basement and two-car garage on the same property PIN number. This classic red brick building is located in the desirable Montclare neighborhood, just blocks from Metra, shopping, restaurants, and nightlife. The buildings have been well maintained and operated as a family business for many years, and are fully occupied. Rents have not been increased in years and are below market, offering improved CAP and GRM potential. Five apartments are on a month-to-month basis. This investment property is being discreetly marketed with respect for tenant privacy a very high priority. Showing appointments will be scheduled with advance notice only and limited to advance verification of funds or pre-approved financing. See the actual rent roll below. 2br -1.1ba house w/ basment & two car garage $1300.00 2br 1ba apartment. $925.00 2br 1ba apartment $850.00(Discount for cleaning the bldg.) 2br 1ba apartment $950.00 2br 1ba apartment $925.00 2br 1ba apartment $900.00 2br 1ba apartment $900.00 1br 1 ba apartment $750.00 1br 1ba apartment $700.00

Features

• Property Type: Commercial
• Sub Type: Multi Family 5+
• Listing Status: Active
• County/Area: Cook County
• Zip Code: 60707
• Year Built: 1926
• Stories: 2
• Units: 9 units
• Basement: Unfinished
• Zoning: MULTI
• Approximate Age: Older
• Built Before 1978 (Y/N): Yes
• Cap Rate: 5.3
• Construction Materials: Brick
• Directions: Cumberland S of 90 to W Grand Ave to N Nordic Ave L. Building entrance on Nortica. Single-family unit around the corner on Altgeld.
• Electric Expense: 960
• Electric Expense Source: Owner Projection
• Foundation Details: Concrete Perimeter
• Fuel Expense: 2700
• Fuel Expense Source: Owner Projection
• Gross Income: 100000
• Gross Rent Multiplier: 15
• Gross Scheduled Income: 100000
• Heat/Ventilation: Central Bldg Heat
• Information: No Sign on Property
• Insurance Expense: 7000
• Insurance Expense Source: Owner Projection
• Lot Size Square Feet: 10500
• Main Type: Commercial Sale
• Maintenance Expense: 5000
• Misc Inside: Laundry Room
• Misc Outside: Courtyard
• Operating Expense: 25000
• Outdoor Parking: Common Parking
• Ownership Type: Individual
• Repairs-Decor Expense Source: Owner Projection
• Tax Annual Amount: 11139
• Tax Year: 2024
• Tenant Pays: Air Conditioning, Electricity
• Total Annual Expense Source: Owner Projection
• Total Monthly Income: 8300
• Township: Jefferson
• Trash Expense: 3600
• Trash Expense Source: Owner Projection
• Type Multi-Family: Corridor-Interior Entrance
• Water Expense Source: Owner Projection
• Water Sewer Expense: 3600