Brick 2 Flat in South Austin - Asking $49K - ARV $200K

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Brick 2 Flat in South Austin - Asking $49K - ARV $200K

Chicago, IL · Member since 2014 · 97 posts · 4 votes
The Best Wholesale Real Estate Deals in Illinois
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Here is the deal Top!Property Address: 228 N Leclaire Ave, Chicago, IL 60644
  • County: Cook
  • Neighborhood: South Austin
  • Asking Price: $49,900
  • ARV As 2 Units: $200K
  • Unit 1: 2 Bed / 1 Bath
  • Unit 2: 3 Bed / 1 Bath
  • Basement: Full Finished Basement with illegal 1 bed and 1 bath
  • Year Built: 1895
  • Lot Size: 26X129
  • 2014 Taxes: $3,188

This is a good clean block in a solid area. Property needs heavy rehab. The property is currently occupied but will be delivered vacant upon closing. First floor has 2 beds 1 bath and the second floor has 3 beds 1 bath. The basement has 2 entrances with 6.5 feet high ceiling and is currently occupied with 1 bed and 1 bath. Units could rent for $1,200 and $1,000. Building has code violations and the city is requesting the basement be deconverted to storage space.

Comps are within .5 miles of the subject property and were sold within the last 9 months.

2 Units Comps:

  • 4935 W Washington Blvd , Chicago, IL 60644 - Sold for $246K on 10/2016
  • 205 N Leamington Ave , Chicago, IL 60644 - Sold for $236K on 08/2016
  • 331 N Lockwood Ave , Chicago, IL 60644 - Sold for $206K on 11/2016

For more information call Sam at 847.752.4757

This is a wholesale deal. We have equitable interest in the property and we are selling our contract.

  • Cash or private/hard money only.
  • Buyer pays ALL closing costs which include Transfer taxes, title insurance, and title company fees.
  • Buyer will receive taxes prorated to 100 percent and free and clear title
  • Please do all your inspections and due diligence up front before contracting.
  • Realtors add your commission to the price.Proof of funds required for viewing.
  • Do you know someone that would buy this deal please forward this email we do compensate for marketers
  • The first one with a signed contract and earnest money gets the deal.
  • Do you need money? We have lenders ready to lend. Call us for more details
  • This is an IRA Qualified investment
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