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$750,000

For Sale - Active
222 N Columbus Dr Apt 4803, Chicago, IL 60601
3 Beds
3 Baths
1,700 Square Feet
0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Jul 02, 2025 at 03:40AM

Investment Summary


Monthly Cash Flow
-$2,305
Cap Rate
2.0%
Cash-on-Cash Return
-16.0%
Debt Coverage Ratio
0.35
Internal Rate of Return (5 years)
-11.5%

Property Description


0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a

Rarely available 3 BR/2.1 BA higher floor unit with North, East, and South views, floor to ceiling windows. Generous private balcony overlooking the Chicago River, Lake Michigan, Navy Pier, Soldier Field, and Buckingham Fountain. Split floorplan with separate dining and living area. Gourmet kitchen with plenty of cabinets, granite counters and stainless-steel appliances. Primary suite offers huge windows and TWO large walk-in closets. In unit washer/dryer, gas fireplace and half bathroom off of the foyer/entryway. Park Millennium is a full-amenity building offering an indoor swimming pool, hot tub, saunas, a sundeck with grills, an exercise room, a party room, a business center, 24-hour door staff, dry cleaners, and access to the Pedway. The location is just steps from Michigan Avenue, Millennium Park, Mariano's, Lakeshore East Park, the lakefront, Riverwalk, museums, theaters, and more! HOA fees include most utilities except electricity.

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Location


Property Details


Parking

  • Description: Garage
  • Details: On Site, Leased, Attached, Garage
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 51
  • Basement Description: None
  • Fireplace: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $1,687/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 17103160331471
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 2006

Tax Information

  • Annual Tax: $12,026

Utilities

  • Heating: Natural Gas, Forced Air
  • Cooling: Central Air

Location

  • County: Cook

Listing Details


Listed by:
Bo Xu
Corcoran Urban Real Estate
(312) 989-2354

Source:
Midwest Real Estate Data (MRED)
MLS#: 12407686
Midwest Real Estate Data (MRED)

Investment Summary


Monthly Cash Flow
-$2,305
Cap Rate
2.0%
Cash-on-Cash Return
-16.0%
Debt Coverage Ratio
0.35
Internal Rate of Return (5 years)
-11.5%

Purchase Details

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Purchase price:
$750,000
Amount financed:
-$600,000
Down payment:
$150,000
Closing costs:
$22,500
Rehab costs:
$0
Initial cash invested:
$172,500
Square feet:
1,700
Cost per square foot:
$441
Monthly rent per square foot:
$3.35

Financing Details

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Loan amount:
$600,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,549
Property tax:
$1,002
Insurance:
$399
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,950

Operating Income

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% Rent Monthly Yearly
Gross rent:
$5,700 $68,400
Vacancy loss: (6%)
6% -$342 -$4,104
Operating income:
$5,358 $64,296

Operating Expenses


% Rent Monthly Yearly
Property taxes: (18%)
18%-$1,002-$12,026
Insurance: (7%)
7%-$399-$4,788
Property management: (8%)
8%-$456-$5,472
Repairs & maintenance: (5%)
5%-$285-$3,420
Capital expenditures: (5%)
5%-$285-$3,420
HOA fees: (30%)
30%-$1,687-$20,244
Total operating expenses: (72%)
72%-$4,114-$49,370

Cash Flow


Monthly Yearly
Net operating income:
$1,244 $14,928
Mortgage payments:
-$3,549 -$42,588
Cash flow:
$2,305 $27,660