$9,450,000
Investment Summary
- Monthly Cash Flow
- -$47,321
- Cap Rate
- -0.3%
- Cash-on-Cash Return
- -26.1%
- Debt Coverage Ratio
- -0.06
- Internal Rate of Return (5 years)
- -21.2%
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
Set on an expansive 44-ft-wide lot on the most coveted block of one of Chicago's most prestigious streets, 1853 N Burling is an exceptional custom-built estate. Situated in the heart of Lincoln Park, this architectural tour de force seamlessly combines masterful craftsmanship & refined modern living. Designed for extraordinary living, every element of this home has been carefully curated to reflect enduring quality & timeless elegance. The home's distinguished facade is defined by hand-selected, water-struck custom brick, triple-hung windows, & a grand arched entry crowned by a handcrafted S.A. Baxter decorative doorknob. Upon entering, an elegant foyer & gallery hall unfold, w/generous wall space ideal for showcasing a fine art collection. Designed for effortless living, the home includes a full-service elevator that provides seamless access to all levels. A graciously sized formal living room impresses w/soaring 11-ft ceilings & a gas fireplace. Floor-to-ceiling windows frame picturesque tree-lined views, bathing the space in natural light. An adjacent formal dining room provides the perfect setting for both intimate dinners & large-scale entertaining. A jewel box of design, a powder room stuns w/Venetian plaster walls & a custom Macassar ebony vanity topped in glass. At the heart of the home is a Christopher Peacock-designed kitchen, a true statement in luxury and functionality. Outfitted w/marble slab countertops, Wolf, Sub-Zero, Bosch, & Broan appliances, & an oversized breakfast bar, the space is complemented by a fully appointed butler's pantry, featuring a 2nd dishwasher, Wolf warming drawer, Miele coffee station, & steam oven. The adjoining family room centers around a gas fireplace & opens to a light-filled breakfast room framed by French doors. These doors lead to a Saint Andrew's stone terrace with a built-in grill, overlooking the professionally landscaped grounds by J.W. Landscapes, complete w/custom sport court. A sculptural, curved staircase connects the upper levels, crowned by a domed skylight w/custom lens & a Bocci chandelier, casting a soft glow. The artisan-forged metal balustrade introduces architectural rhythm to the space. The primary suite is a serene retreat wrapped in fine millwork & thoughtful detail. The paneled sitting room w/custom cabinetry doubles as a sophisticated home office. In the bedroom, a gas fireplace & high ceilings create a sense of grandeur, while French doors open to a private terrace overlooking a manicured garden. Bathed in natural light, the spa-inspired bath features an oversized steam shower, soaking tub, mahogany vanity w/Calcutta marble, Lefroy Brooks fixtures, heated marble floors, & pocket doors. A richly appointed mahogany dressing room w/integrated cabinetry & a dedicated packing station completes the suite. A professionally outfitted exercise room completes this level with full-height mirrors & reinforced rubber flooring for sound & stability protection. The 3rd level hosts 3 ensuite bedrooms, each filled w/natural light & custom built-ins. A charming library w/built-in shelving, a rolling ladder, & a large walk-in closet-already plumbed for a future bath-provides flexibility for a creative space or an additional bedroom. The laundry room features Electrolux washer & dryer, ample cabinetry, & marble countertop workspace. Ascend to the rooftop to take in panoramic skyline views, where a firepit, lounge seating, & outdoor dining space create the ultimate setting for alfresco living. The lower level offers radiant heated floors, a spacious recreation room, a custom wet bar, climate-controlled wine cellar, guest suite, full bath, & a mudroom that connects directly to the attached, heated 2.5-car garage. Enhancing daily comfort, the home is equipped w/snowmelt system for the driveway, steps, & sidewalks. Designed to enhance everyday living, this residence includes a full irrigation system, outdoor landscape lighting, a state-of-the-art security system, & built-in speakers.
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Location
Property Details
Parking
- Description: Garage Door Opener(s), Transmitter(s)
- Details: Heated Garage, On Site, Attached, Garage
- Garage Spaces: 2
- Spaces Total: 2
Bedroom Information
- # of Bedrooms: 7
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Partial): 1
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 14
- # of Stories: 3
- Basement: Yes
- Basement Description: Finished, Full, Daylight
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Masonry
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 1433301037
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Georgian
- Year Built: 2010
Tax Information
- Annual Tax: $90,005
Utilities
- Heating: Natural Gas, Forced Air, Zoned, Radiant Floor
- Cooling: Central Air
Location
- County: Cook
Listing Details
Investment Summary
- Monthly Cash Flow
- -$47,321
- Cap Rate
- -0.3%
- Cash-on-Cash Return
- -26.1%
- Debt Coverage Ratio
- -0.06
- Internal Rate of Return (5 years)
- -21.2%
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:
| $9,450,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$7,560,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $1,890,000 |
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:
| $283,500 |
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:
| $2,173,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 8,691 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,087 |
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:
| $0.82 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $7,560,000 |
|---|---|
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:
| $44,720 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $7,500 |
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:
| $497 |
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:
| $52,717 |
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:
| $7,100 | $85,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$426 | -$5,112 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,674 | $80,088 |
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. | 106% | -$7,500 | -$90,005 |
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% | -$497 | -$5,964 |
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% | -$568 | -$6,816 |
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% | -$355 | -$4,260 |
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% | -$355 | -$4,260 |
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. | n/a | n/a | n/a |
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 | 131% | -$9,275 | -$111,305 |
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:
| -$2,601 | -$31,212 |
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. | -$44,720 | -$536,640 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $47,321 | $567,852 |