$3,200,000
Investment Summary
- Monthly Cash Flow
- -$12,282
- Cap Rate
- 1.1%
- Cash-on-Cash Return
- -20.0%
- Debt Coverage Ratio
- 0.19
- Internal Rate of Return (5 years)
- -15.3%
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
Step into a world of elegance and grandeur with this exceptional limestone estate, perfectly positioned on a 100*187 corner lot in the Forest Hills neighborhood of Western Springs. This residence embodies luxury living, showcasing impeccable design and superior craftsmanship at every turn. As you approach the home, the magnificent limestone facade & slate roof immediately captures your attention, exuding timeless charm and sophistication. The expansive driveway leads to a 4-car attached heated garage. Upon entering the home, you are greeted by a grand foyer that sets the tone for the rest of this exquisite home. The sweeping walnut staircase, adorned with ornate wrought iron railings, serves as a stunning focal point. The foyer's soaring ceilings, stained glass window and Royal Oyster marble flooring enhance the sense of opulence. To the left of the foyer is distinguished office space featuring exquisite herringbone walnut floors and custom cabinetry. The formal dining room beckons with its rich walnut flooring with red birch inlay. This dining space is perfect for hosting elegant dinner parties and family gatherings. As you walk through the foyer, you are welcomed into the heart of the home; with a chef's kitchen that is functional and beautiful. Featuring Dacor oven, Miele coffee system, two Miele dishwashers, Sub-Zero refrigerators and freezers, and surrounded with stained maple kitchen cabinetry & a spacious island featuring bamboo granite countertops. Adjacent to the kitchen, is another office space complete with pocket door for privacy. The hand scraped Walnut floors continue to flow to the sun-drenched dinette overlooking the luscious & manicured private yard. The kitchen flows seamlessly into the great room, where a dual floor to ceiling Rock Face Limestone fireplace is shared with a sunroom that showcases Slate Flooring. Both of these spaces create a warm and cozy luxurious atmosphere, ideal for relaxation or entertaining guests. Making your way up the grand staircase you will find the primary bedroom suite that is a true sanctuary featuring custom limestone fireplace with custom framing for TV, a lavish spa-like bathroom with a soaking tub, dual vanities, a walk-in shower with radiant heated bench. The incredible walk in closet will captivate you with all of the space you'll need. The other four spacious bedrooms feature walk-in closets, ensuite bathrooms, with two of the bedrooms sharing a convenient Jack & Jill bathroom. The second floor also offers a full laundry room complete with dual washers & dryers w Antique Saturnia Travertine floors. The finished third level offers vast storage space. Conveniently make your way down to a luxurious lower-level retreat on the second all walnut staircase. This basement is a homeowner's dream, designed with meticulous attention to detail and high-end finishes throughout. Enjoy a serene escape with a spacious bedroom and an indulgent full bath, featuring a large walk-in, resort-style steam shower. The full kitchen boasts top-of-the-line appliances, including another Sub-Zero refrigerator, providing ample storage and convenience. The custom bar area is finished in Rock Face limestone to match the home's exterior and bar area. This features a vibrant game room and a state-of-the-art movie theater for the ultimate cinematic experience. Stay active and entertained with a professional-grade golf simulator and a spacious workout room. Connoisseurs will appreciate the wine cellar that can hold 600 bottles. The thoughtfully designed kid's space includes a cozy nook and craft room. Adding to the charm, a cozy fireplace, also finished in Rock Face limestone. Lastly, you will discover your private oasis in this beautifully landscaped backyard, featuring built-in gas fireplace, grill station, and Kamado Joe. The Victorian greenhouse, imported from England, adds a touch of classic charm, all surrounded by vibrant foliage that creates your own English garden right in Western Springs.
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Location
Property Details
Parking
- Description: Garage
- Details: Concrete, Garage Door Opener, On Site, Attached, Garage
- Garage Spaces: 4
- Spaces Total: 4
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Partial): 2
- # of Baths (Total): 7.0
Interior Features
- # of Rooms: 15
- # of Stories: 2
- Basement: Yes
- Basement Description: Sump Pump, Finished, Storage Space, Daylight, Full
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Masonry
- Roof Material: Slate
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 1807402001
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2008
Tax Information
- Annual Tax: $38,532
Utilities
- Water & Sewer: Shared Well
- Heating: Natural Gas
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Cook
Listing Details
Investment Summary
- Monthly Cash Flow
- -$12,282
- Cap Rate
- 1.1%
- Cash-on-Cash Return
- -20.0%
- Debt Coverage Ratio
- 0.19
- Internal Rate of Return (5 years)
- -15.3%
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:
| $3,200,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,560,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $640,000 |
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:
| $96,000 |
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:
| $736,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 9,777 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $327 |
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:
| $0.90 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,560,000 |
|---|---|
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:
| $15,143 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $3,211 |
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:
| $616 |
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:
| $18,970 |
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:
| $8,800 | $105,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$528 | -$6,336 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,272 | $99,264 |
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. | 36% | -$3,211 | -$38,533 |
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% | -$616 | -$7,392 |
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% | -$704 | -$8,448 |
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% | -$440 | -$5,280 |
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% | -$440 | -$5,280 |
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 | 61% | -$5,411 | -$64,933 |
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:
| $2,861 | $34,332 |
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. | -$15,143 | -$181,716 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $12,282 | $147,384 |