Closed

$1,560,000

Favorite

6,100

square ft

2520 N Burling Street

CHICAGO, Illinois 60614

Closed / MLS #9383984 / Multiple Family / Wrightwood Neighbors

Listing information updated 12/27/2016 at 1:36am

This pristine 5-unit Greystone located on one of East Lincoln Park's best blocks is an investor's dream! The building is zoned RT-4, and is fully occupied with under market rents. Each unit is in great condition with separate utilities and updated kitchens and baths. The 1st level has a 1,400 sqft 2-bedroom unit (see photos) that could be expanded into the basement to create a duplex. On both the 2nd and 3rd levels, there is a 900 sqft 2-bedroom unit and a 500 sqft 1-bedroom unit. The cap rate is projected at roughly 5%, but with below market rents and the possibility of enlarging the 1st level unit, there is potential for increased income. The 2-car garage has a deck above; garage spaces rent for $100-$150/month. Additional income is generated from coin laundry machines in the basement. Tenants pays for gas and electric, landlord pays the water bill. An alternative use is it so renovate this magnificent building into 6,000 sqft single family home in Alcott School District!

Full Features

Exterior Type:

Brick,Stone

Basement:

Unfinished

Square Feet:

6,100

Built:

1900

Parking Spaces:

Cooling System:

Central Air,Zoned

Stories:

Current Use:

Residential-Multi-Family

Potential Use:

Residential-Multi-Family, Residential-Single Family

Zoning:

MULTI

Building Square Feet:

6,100

Current Net Income:

$81,685

Unit 1:

6 room(s) / 2 bed(s) / 2 bath(s)

Unit 2:

3 room(s) / 1 bed(s) / 1 bath(s)

Unit 3:

5 room(s) / 2 bed(s) / 1 bath(s)

Taxes & Assessments

Tax Amount:

$18,715

Tax Year:

N/A

Location

Zip Code:

60614

City:

Chicago

County:

Cook

Listing Office: Coldwell Banker Residential

Listing Office Phone: 312.266.7000

Disclaimer: The data relating to real estate for sale on this website comes courtesy of Midwest Real Estate Data, LLC as distributed by MLS GRID. Real estate listings held by brokerage firms other than @properties are marked with the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 12/27/2016 at 1:36am. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.

New Listings in Wrightwood Neighbors, IL

Recently Sold Homes in Wrightwood Neighbors, IL

Popular Neighborhoods near Wrightwood Neighbors, IL

2520 N Burling Street is a multiple family which sold for $1,560,000. This multiple family has been listed on @properties since November 7th, 2016 and was built in 1900. The nearest transit stops include Fullerton CTA Brown line.