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    2131 N Lorel Avenue

    Chicago, IL 60639
    • $440,000
    • STATUS: Active Under Contract
    • ON SITE: 116 days
    • MLS #: 10762951
    Under Contract
    UPDATED: 24 min ago
    $440,000
    • 8
      BEDS
    • 0.07
      ACRES
    • 4
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1912
    County:

    School Ratings & Info

    Description

    This BEAUTIFULLY maintained and recently updated building is the self sufficient investment that you've been looking for! Tear off roof in 2012, updated units done in 2015, and tuck-pointing done in 2018. Copper plumbing, new electrical wiring, 4 legal units, 4 separate gas meters and 4 separate electric meters, 4 separate utility rooms and coin operated laundry makes this thing a truly self sufficient CASH COW. Currently owned by a GC, the owner has been able to easily maintain the building with top quality craftsmanship. Fully rented at market value this could easily yield a 12%+ CAP RATE. Currently 2 units vacant and 2 units occupied: 1 unit is on a lease until the end of August, the other is on a lease until the end of next May (both are paying WAY below market value). Easily rentable to long term tenants being steps away from public transportation, elementary, middle and high schools. FHA/Conventional/Cash, bring your best offer - this is a TURN-KEY investment!

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    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or BNRealty | RE/MAX Rising. Based on information submitted to the MRED as of 2020-10-23T22:51:10.69 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    2131 N Lorel Avenue Chicago, IL 60639

    • Price: $440,000
    • Status: Active Under Contract
    • Updated: 24 min ago
    • MLS #: 10762951
    8
    Beds
    4
    Baths
    0
    ½ Baths
    0.07
    Acres
    1912
    Built
    Neighborhood:
    Chi - Belmont Cragin
    County:
    Cook
    Area:
    Chi - Belmont Cragin
    Property Description
    This BEAUTIFULLY maintained and recently updated building is the self sufficient investment that you've been looking for! Tear off roof in 2012, updated units done in 2015, and tuck-pointing done in 2018. Copper plumbing, new electrical wiring, 4 legal units, 4 separate gas meters and 4 separate electric meters, 4 separate utility rooms and coin operated laundry makes this thing a truly self sufficient CASH COW. Currently owned by a GC, the owner has been able to easily maintain the building with top quality craftsmanship. Fully rented at market value this could easily yield a 12%+ CAP RATE. Currently 2 units vacant and 2 units occupied: 1 unit is on a lease until the end of August, the other is on a lease until the end of next May (both are paying WAY below market value). Easily rentable to long term tenants being steps away from public transportation, elementary, middle and high schools. FHA/Conventional/Cash, bring your best offer - this is a TURN-KEY investment!
    Exterior Features

    Cars 4 Exterior Building Type Vinyl SidingBrick Floor Unit1 B Floor Unit2 1 Floor Unit3 2 Floor Unit4 3 Lot Dimensions 25X125 Lot Size Less Than .25 Acre Parking Space/S Parking On Site Yes Parking Ownership N/A Parking Spaces 4 Type Multi 4 Flat Waterfront YN No

    Interior Features

    Additional Rooms Enclosed Porch Appliances Features Unit1 StoveRefrigeratorWasherDryerRange Hood Appliances Features Unit2 StoveRefrigeratorRange HoodHardwood Floors Appliances Features Unit3 Range HoodHardwood Floors Appliances Features Unit4 StoveRefrigeratorCentral Air ConditionerRange Hood Basement FullWalkout Basement Description FinishedExterior Access Bedrooms Above Grade 8 Bedrooms Below Grade 0 Bedrooms Unit1 2 Bedrooms Unit2 2 Bedrooms Unit3 2 Bedrooms Unit4 2 Full Baths In Building 4 Full Baths Unit1 1 Full Baths Unit2 1 Full Baths Unit3 1 Full Baths Unit4 1 Half Baths In Building 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Heat Fuel Forced Air Rooms 24 Rooms Unit1 6 Rooms Unit2 6 Rooms Unit3 6 Rooms Unit4 6

    Property Features

    3 Br Un In Bldg YN No Additional Sales Information None Age 100+ Years Agent Owned Interest YN No Built Before1978 YN Yes Contingency Flag Attorney/Inspection Corporate Limits Chicago Elementary Sch Dist 299 General Information None High Sch Dist 299 Holds Earnest Money Yes Jr High Middle Dist 299 Lease Exp Date Mo Yr Unit1 08/20 Lease Exp Date Mo Yr Unit2 05/21 Lease Exp Date Mo Yr Unit3 None Lease Exp Date Mo Yr Unit4 None New Construction No Ownership Fee Simple Possession Closing Recent Rehab YN Yes Rent Unit1 850 Rent Unit2 800 Rent Unit3 None Rent Unit4 None Sec Deposit Unit1 850 Sec Deposit Unit2 None Sec Deposit Unit3 None Sec Deposit Unit4 None Sewer Other Special Assessments No Special Service Area N Tax Year 2018 Taxes 5495.69 Tenant Pays Unit1 ElectricGasHeat Tenant Pays Unit2 ElectricGasHeat Tenant Pays Unit3 ElectricGasHeat Tenant Pays Unit4 ElectricGasHeat Total Units In Building 4 Township Jefferson Water Lake Michigan

    Listing information © 2020 Midwest Real Estate Data LLC.
    Listing provided courtesy of Keller Williams Chicago-Lincoln Park.


    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or BNRealty | RE/MAX Rising. Based on information submitted to the MRED as of 2020-10-23T22:51:10.69 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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