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$945,800

For Sale - Active
3600 S Emerald Ave, Chicago, IL 60609
7 Beds
3 Baths
0 Square Feet
0.00 Acres Lot
Built in 1891
For Sale - Active
2 Units
Checked: 1 day ago
Updated: Jun 27, 2025 at 03:46AM

Investment Summary


Monthly Cash Flow
-$3,002
Cap Rate
1.9%
Cash-on-Cash Return
-16.6%
Debt Coverage Ratio
0.33
Internal Rate of Return (5 years)
-12.0%

Property Description


0.00 Acres Lot
Built in 1891
For Sale - Active
2 Units

Welcome to 3600 S. Union Avenue, Chicago, IL. 60609 a meticulously maintained, family-owned- 3 unit all brick building with an adjacent brick 4 car garage. This corner lot property boasts 2 electric vehicle charging outlets, and is equipped with 35 solar roof panels, providing energy efficiency and cost savings. Each unit features spacious living/dining room combinations, new carpeting,with 2 bedrooms on the 1st and 2nd floors, and 3 bedrooms on the 3rd floor, accommodating a variety of living arrangements! The building offers modern amenities including air conditioning, updated electric systems, central HVAC, and copper plumbing. Each unit enjoys the convenience of individual heating and A/C units, ensuring personalized comfort and efficiency. Additional features include enclosed back porches for each unit, offering additional relaxation space. All garages are equipped with their own openers for added security and convenience. Windows on the 1st floor are newly installed, while those on 2nd and 3rd floors are approximately 15 years old. This property represents a unique opportunity to own a well-equipped and meticulously maintained multi family residence in a highly desirable Chicago/Bridgeport location, close proximity to local amenities including a ballpark, shopping and easy access to downtown Chicago via nearby train, bus, and red line making commuting a breeze!!Schedule a viewing today to experience firsthand the comfort, convenience, and potential this property has to offer. Qualified buyers only! Must see!!!!!

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Location


Property Details


Parking

  • Description: Detached Garage
  • Details: Garage Door Opener, Garage, On Site, Detached
  • Garage Spaces: 4
  • Spaces Total: 4

Bedroom Information

  • # of Bedrooms: 7

Bathroom Information

  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 13
  • # of Stories: 2
  • Attic: Yes
  • Basement: Yes
  • Basement Description: Unfinished, Full

Exterior Features

  • Exterior Walls Materials: Wood
  • Foundation: Brick/Mortar
  • Roof Material: Rubber

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Apartments (general)

Lot Information

  • Parcel ID: 1733307024
  • Lot Size: 0 sqft

Property Information

  • Property Type: Multi Family
  • Year Built: 1891

Tax Information

  • Annual Tax: $8,812

Utilities

  • Heating: Active Solar, Natural Gas, Electric, Solar

Location

  • County: Cook

Listing Details


Listed by:
Gale Ruggiero
McColly Real Estate
(815) 342-7313

Source:
Midwest Real Estate Data (MRED)
MLS#: 12092114
Midwest Real Estate Data (MRED)

Investment Summary


Monthly Cash Flow
-$3,002
Cap Rate
1.9%
Cash-on-Cash Return
-16.6%
Debt Coverage Ratio
0.33
Internal Rate of Return (5 years)
-12.0%

Purchase Details

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Purchase price:
$945,800
Amount financed:
-$756,640
Down payment:
$189,160
Closing costs:
$28,374
Rehab costs:
$0
Initial cash invested:
$217,534
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$756,640
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$4,476
Property tax:
$734
Insurance:
$224
Private mortgage insurance (PMI):
$0
Monthly payment:
$5,434

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,200 $38,400
Vacancy loss: (6%)
6% -$192 -$2,304
Operating income:
$3,008 $36,096

Operating Expenses


% Rent Monthly Yearly
Property taxes: (23%)
23%-$734-$8,812
Insurance: (7%)
7%-$224-$2,688
Property management: (8%)
8%-$256-$3,072
Repairs & maintenance: (5%)
5%-$160-$1,920
Capital expenditures: (5%)
5%-$160-$1,920
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (48%)
48%-$1,534-$18,412

Cash Flow


Monthly Yearly
Net operating income:
$1,474 $17,688
Mortgage payments:
-$4,476 -$53,712
Cash flow:
$3,002 $36,024