2108 N. Sheffield
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2108 N. SHEFFIELD KLOPAS STRATTON 2108Sheffield.com 2108 N. SHEFFIELD AVENUE 2108SHEFFIELD.COM Four unit turn key in the heart of Lincoln Park offering over $110K in rental income. The building features three 2 bedroom/1 bath units and one 1 bedroom/1 bath unit. Your tenants will love this building especially because it’s not on the train side. Recently renovated units and building with in-unit washer and dryer, separate gas forced heat and air, newer double pane windows, new rear porches, and hardwood floors throughout. Kitchens include fridge, range/oven, dishwasher, and garbage disposals. The two bedroom units are east facing light filled units with newer kitchens, separate dining areas, large family rooms with large windows, split bedrooms (not touching each other - higher rents), renovated bathroom and large deck off the kitchen for grilling and entertaining. First floor one bedroom is 2 feet below grade and has new stainless steel kitchen, full bath, open concept floor plan, in unit washer/dryer and separate utilities. This all brick building is steps away from the Armitage/Sheffield intersection offering shops, nightlife, food, parks, and public transit. This is a golden opportunity you can’t miss! UNIT 1 UNITS 2 - 4 INVESTMENT CALCULATIONS 2108SHEFFIELD.COM Page 1 Real Estate Investment Calculator Property Info Address: 2108 n Sheffield Type: 4 UNIT Purchase Price -----> $1,599,000 OPERATION COSTS: Annual Cost Down Payment -----> $399,750 Other Acq. Costs --> $0 Management $0 Cash In > $399,750 Accounting $0 Annual Comed $812 INCOME FROM OPERATIONS: Potential Occupied water/garbage $1,270 # of Units Mnthly Rent Annual Occup % Income Maintenance $3,926 Calculations unit 1 1 $ 1,595.00 $ 19,140 100 $19,140 Insurance $2,569 unit 2 1 $ 2,600.00 $ 31,200 100 $31,200 Janitorial $0 unit 3 1 $ 2,600.00 $ 31,200 100 $31,200 Supplies $0 unit 4 1 $ 2,600.00 $ 31,200 100 $31,200 Prop/op taxes $21,383 $ - $ - 100 $0 Heat $1,321 $ - $ - 100 $0 $0 $ - $ - 100 $0 $0 $0 Vacancy & credit loss % as whole #, will convert to % ---> 0 $0 $0 Gross Potential Income ---------------> $112,740 $0 Gross Operating Income -------------> $112,740 Total Operating Exp ----> $31,281 Gross Rent Multiplier or GRM -----> 14.18 Net Operating Income -> $81,459 Cash Flow Before Taxes (CFBT) Capitalization Rate -> 5.1% Net Operating Income -> $81,459 ST/Fed Income Taxes $0 Enter Debt Service -----> $0 Capital Expenditures --> 0 Cash Flow After Taxes (CFAT) ------> $81,459 Loan Proceeds In -------> 0 Interest Earned In ------> 0 Break-Even Ratio ---> 28% CFBT -------> $81,459 Return on Equity Year One -------------> 20.4% AREA INVESTMENT COMPARABLES 2108SHEFFIELD.COM Two to Four Units Status: CLSD MLS #: 09583934 Address: 2029 N Sheffield Ave, Chicago, 60614 Bedrooms: 9 List Price:$1,399,000 Baths(full/half):4/0 Rent Price: Total Rms: 23 Area:8007 Master Bedroom Bath: HO Assessments: # Fireplaces: Frequency: PIN: 14322250100000 (Map) Taxes:$23,041.53 Spec Asmt: No Tax Year:2015 Type Ownership: Fee Simple Tax Exemptions:None Agent Owned/Interest: Yes Year Built:1887 Basement: Partial Built Before 1978:Yes Parking Type: None # Spaces (Gar/Ext): 0 Subdivision: Type: 4 Flat Contract:05/03/2017 Style: Other Sold Price:$1,360,000 Elementary: District #:299 Approx SF: Rented Price: Middle: District #:299 Exterior: Brick Agent Owned/Interest:Yes High: District #:299 Age: 100+ Years, Rehab in 2016 Lot Dimensions: 27X124 Lot Size: Oversized Chicago Lot Acres: 0.08 Waterfront: No Coordinates: North: 2000 South: 0 East: 0 West: 1000 Directions: Sheffield & Armitage ROOM NAME SIZE LEVEL FLOORING WIN TRMT ROOM NAME SIZE LEVEL FLOORING WIN TRMT Living Room: Dining Room: Kitchen: Family Room: Laundry Room: Master Bedroom: 2nd Bedroom: 3rd Bedroom: 4th Bedroom: Air: Appliances: Assessments Include: Basement: Partially Finished Existing Bas./Fnd.: Bath Amenities: Separate Shower Dining Room: Fireplace: Garage: Heat/Fuel: Gas, Forced Air Kitchen: Lot Description: Other Rooms: Sewer: Sewer-Public Water: Lake Michigan Remarks: Lincoln Park turnkey investment property with 4 legal and updated units. Upgrades include tuckpointing, new water heaters, new hardwood floors, lighting, plumbing, new windows and much more! Steps to DePaul and Armitage train stop. Easy to lease and manage! Agent Remarks: Please email to schedule showings. Holds Earnest Money: Yes Listing Type: Exclusive Right to Sell Sp. Comp. Info.: Variable Cooperative Compensation: 2.5% (on Net SP) Showing Instructions: Please email to schedule showings. Lock Box: Owner: OOR Owner's Phone: List Office:Robert Sekula ID#: 86661 Office Phone: (224) 436-2166 List Agent:Robert Sekula ID#: 885888 Agent Phone: (224) 436-2166 List Agent E-mail: [email protected] Team: Co-Lister: Agents Additional Contact #: List Date: 04/03/2017 Contract: 05/03/2017 Closed Date: 07/10/2017 Original List Price:$1,399,000 Off-Market Date:05/03/2017 Expiration Date: Status Date: 07/11/2017 Listing Market Time: 31 Selling Office: 85186 Selling Agent:129479 Copyright 2017 MRED LLC - The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Train side - 6.2 cap “as-is”Prepared on the By: train. Sophia Klopas | Berkshire Hathaway HomeServices KoenigRubloff | 10/30/2017 09:16 AM Page 1 Real Estate Investment Calculator PropertyInfo ° Address: 2029 N Sheffield Type: 4 UNIT Brick w/ 10 /o adj Purchase Price -----> $1,496,000 OPERATION COSTS: Annual Cost Down Payment -----> $374,000 Other Acq. Costs--> $0 Management $0 Cash In> $374,000 Accounting $0 Annual Legal $0 INCOME FROM OPERA T/ONS: Potential Occupied water/garbage $0 # of Units Mnthlv Rent Annual 0CCUQ. % Income Maintenance $0 Calculations unit 1 1 $ 1,300.00 $ 15,600 100 $15,600 Insurance $0 unit 2 1 $ 2,700.00 $ 32,400 100 $32,400 Janitorial $0 unit 3 lj 1 $ 2,600.00 $ 31,200 100 $31,200 Supplies $0 unit 4 [ 1 $ 2,400.00 $ 28,800 100 $28,800 Prop/op taxes $23,0�1 "I $ - $ - 100 $0 Heat $0 - I $ g_ $ 100 $0 $0 $ -- $ - I 100 $0 $0 $0 Vacancy & credit loss % as whole #, will convert to %' ---> 0 $0 $0 Gross Potential Income $108,000 I I $0 Gross Operating Income $108,000 Total Operating Exp----> $23,041 > Gross Rent Multiplier or GRM -----> 13.85 Net Operating Income -> $84,959 Cash Flow Before Taxes (CFBT} Capitalization Rate-> @' Net Operating Income -> $84,959 ST/Fed Income Taxes $0 Enter Debt Service-----> $0 CapitalExpenditures --> 0 Cash Flow After Taxes (CFA T) ------> $84,959 Loan Proceeds In-------> 0 Interest Earned In------> = .- 0 Break-Even Ratio ---> 21% CFBT -------> $84,959 Return onE.9.!di!Y. Year One----> 22.7% Two to Four Units Status: CLSD MLS #: 09403904 Address: 1311 W Schubert Ave, Chicago, 60614 Bedrooms: 10 List Price:$1,500,000 Baths(full/half):8/0 Rent Price: Total Rms: 19 Area:8007 Master Bedroom Bath: HO Assessments: # Fireplaces: Frequency: PIN: 14293080190000 (Map) Taxes:$15,918.19 Spec Asmt: No Tax Year:2015 Type Ownership: Fee Simple Tax Exemptions:None Agent Owned/Interest: No Year Built:1886 Basement: None Built Before 1978:Yes Parking Type: None # Spaces (Gar/Ext): 0 Subdivision: Type: 2 Story Unit/s Contract:03/02/2017 Style: Sold Price:$1,365,000 (F) Elementary: District #:299 Approx SF: Rented Price: Middle: District #:299 Exterior: Vinyl Siding Agent Owned/Interest:No High: District #:299 Age: 100+ Years Lot Dimensions: 25X131 Lot Size: Less Than .25 Acre Acres: Waterfront: No Coordinates: North: 2700 South: 0 East: 0 West: 1311 Directions: Southport to Schubert, east to property ROOM NAME SIZE LEVEL FLOORING WIN TRMT ROOM NAME SIZE LEVEL FLOORING WIN TRMT Living Room: Dining Room: Kitchen: Family Room: Laundry Room: Master Bedroom: 2nd Bedroom: 3rd Bedroom: 4th Bedroom: Air: Appliances: Assessments Include: Basement: None Existing Bas./Fnd.: Bath Amenities: Dining Room: Fireplace: Garage: Heat/Fuel: Gas Kitchen: Lot Description: Other Rooms: Sewer: Sewer-Public Water: Public Remarks: Money Maker in Lincoln Park! Two 2-story front and rear frame buildings with a total of four units renovated after 1998. Front building: two units, each with 3bedroom/2bath. Rear building: two units, each with 2bedroom/2bath. Individual mechanicals/utilities. In unit laundry. Some units have rear decks. Three units currently occupied. Potential gross income fully occupied: $109,200. Agent Remarks: Sold “AS-IS”. Seller provides NO SURVEY, NO INSPECTIONS, NO DISCLOSURES. BUYER RESPONSIBLE FOR ANY & ALL CITY LIENS/VIOLATIONS/INSPECTIONS, CITY REPAIRS & CITY ESCROWS IF ANY. Rooms, Lot Size, Year Built and Details not guaranteed. Buyer must perform all due diligence. Listing Broker does not hold earnest money. Earnest money to be held by title company in joint order escrow. Holds Earnest Money: No Listing Type: Exclusive Right to Sell Sp. Comp. Info.: None Cooperative Compensation: 2% MINUS $325 (on Net SP) Showing Instructions: showing assistant Lock Box: Owner: OOR Owner's Phone: List Office:A.R.E. Partners Inc. ID#: 84866 Office Phone: (312) 300-7237 List Agent:Antje Gehrken ID#: 187946 Agent Phone: List Agent E-mail: [email protected] Team: Co-Lister: Agents Additional Contact #: List Date: 12/13/2016 Contract: 03/02/2017 Closed Date: 04/06/2017 Original List Price:$1,500,000 Off-Market Date:03/02/2017 Expiration Date: Status Date: 04/07/2017 Listing Market Time: 80 Selling Office: 16379 Selling Agent:162436 Copyright 2017 MRED LLC - The accuracy of all