$1,750,000
Investment Summary
We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$2,749
- Cap Rate
- 3.8%
- Cash-on-Cash Return
- -8.2%
- Debt Coverage Ratio
- 0.67
- Internal Rate of Return (5 years)
- -3.9%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Showcased in Luxe Interiors + Design, this impeccably curated penthouse redefines luxury living in Lakeview's coveted Southport Corridor. Designed by acclaimed builder Castleview Construction and elevated by interior designer Carly Moeller of unpatterned, this home is a one-of-a-kind residence that seamlessly combines bold architectural vision with refined elegance. Spanning more than 3,000 sq ft on a rare extra-long lot, this 4-bedroom home with high ceilings features striking craftsmanship and designer detail at every turn. Atop it all: a showstopping custom-designed, 1,400+ square foot rooftop terrace designed for elevated living and entertaining and showcasing sweeping views of the Chicago skyline. Interior Highlights: Wide-plank white oak hardwood flooring throughout 4 distinct outdoor spaces with durable and low-maintenance porcelain-tiled decking Custom millwork and cabinetry, designer hardware, and premium stone finishes Chef's kitchen with paneled, commercial-grade appliances including: Sub-Zero side-by-side refrigerator, Sub-Zero WiFi-enabled two-zone wine fridge, Wolf 36" six-burner gas range, Dual Bosch dishwashers, Butler's pantry perfect for mixology, glassware storage, and coffee and tea stations. Post-Closing Designer Enhancements Include: Custom paint and designer wallpapers by Cole & Son, Elitis, Holly Hunt, and a hand-painted silk mural by de Gournay, the world renowned British company specializing in hand-painted wallcoverings and intricate designs (each piece is hand painted by skilled artisans and custom designed to a room's dimensions; this home features the "Hippolyta's Forest" pattern) Motorized sheer and blackout window treatments on the bedroom level; custom-made ripple-fold draperies and roman shades throughout the first floor. Statement lighting by Philippe Starck for FLOS, RH, Arteriors, Currey & Company, and Artemide Smart Home Technology: A fully integrated Control4 Smart Home system manages lighting, climate, audio/visual (including surround sound and interior and exterior speakers for indoor and outdoor living spaces), security, rooftop ambiance, and multi-zone audio - allowing seamless control and personalization from anywhere. Wine Room: An architecturally striking, custom-designed, climate-controlled wine room features floor-to-ceiling walnut paneling, custom wine racks and shelving, quartz countertops, a Bosch dishwasher, and ceiling covered in Thibaut gold-flecked cork wallcovering - an entertainer's dream with easy access to the rooftop terrace for easy post-al fresco dining cleanup. Rooftop Terrace: The custom rooftop experience includes: Two steel-framed pergolas with cedar ceilings. Zero-maintenance custom-made powder-coated privacy screens and built-in planters framed in durable and no-maintenance TimberTech composite decking material. Professional zero-maintenance powder-coated outdoor kitchen cabinetry by Urban Bonfire with quartzite and granite countertops, Lynx 36" professional version built-in grill with motorized rotisserie, Lynx professional outdoor refrigerator, and Francke stainless steel sink with Lynx outdoor faucet. Four 6000-watt Infratech heaters to extend the usability of the rooftop terrace for year-round enjoyment. Designer lighting by FXLuminaire fully integrated into the Control4 system for the outdoor speakers. Professionally landscaped terrace with zero-maintenance commercial-grade fiberglass planters by Tau Manufacturing, perennial plantings, and a WiFi-controlled Hydrawise irrigation system Location: Nestled in the heart of Lakeview's coveted Southport Corridor neighborhood-one of Chicago's most desirable neighborhoods-just half a block from the award-winning Blaine Elementary School and steps to the Southport Brown Line, vibrant dining, boutique shopping, a renovated Jewel grocery store, and Wrigley Field to cheer on the Cubs or take in a summertime outdoor concert. This home is very well done and should not be missed!
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Location
Property Details
Parking
- Description: Garage Door Opener(s)
- Details: On Site, Detached, Garage
- Garage Spaces: 1
- Spaces Total: 1
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 8
- # of Stories: 4
- Basement Description: None
- Fireplace: Yes
HOA
- Has HOA: Yes
- HOA Fee: $470/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 14201060661002
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Year Built: 2021
Tax Information
- Annual Tax: $0
Utilities
- Water & Sewer: Public
- Heating: Natural Gas, Radiant Floor
- Cooling: Central Air
Location
- County: Cook
Listing Details
Investment Summary
We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$2,749
- Cap Rate
- 3.8%
- Cash-on-Cash Return
- -8.2%
- Debt Coverage Ratio
- 0.67
- Internal Rate of Return (5 years)
- -3.9%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $1,750,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,400,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $350,000 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $52,500 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $402,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,000 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $583 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $2.90 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,400,000 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 5.875% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $8,282 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $0 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $609 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $8,891 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $8,700 | $104,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$522 | -$6,264 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,178 | $98,136 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
We noticed that property taxes are missing—these are standard expenses and should be considered in your estimate. | n/a | n/a | n/a |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$609 | -$7,308 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$696 | -$8,352 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$435 | -$5,220 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$435 | -$5,220 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | 5% | -$470 | -$5,640 |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 30% | -$2,645 | -$31,740 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $5,533 | $66,396 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$8,282 | -$99,384 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,749 | $32,988 |