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$255,000

Under Contract
5415 N Sheridan Rd Apt 3004, Chicago, IL 60640
1 Bed
1 Bath
835 Square Feet
0.00 Acres Lot
Built in 1974
Under Contract
Units n/a
Checked: 17 hours ago
Updated: Jun 28, 2025 at 03:21AM

Investment Summary


Monthly Cash Flow
-$806
Cap Rate
1.9%
Cash-on-Cash Return
-16.5%
Debt Coverage Ratio
0.33
Internal Rate of Return (5 years)
-11.9%

Property Description


0.00 Acres Lot
Built in 1974
Under Contract
Units n/a

Enjoy the brightness and stunning lake views from the living/dining room, kitchen and bedroom! This is the largest one bedroom in the building with 835 sqft. Totally rehabbed in 2017 with designer lighting, beautiful hardwood flooring throughout, custom kitchen cabinetry, quartz counter, all stainless appliances including new induction stove (!), under-cabinet lighting. RARE in-unit washer/dryer (new 2024!), large bedroom, large bath with walk-in shower and extra storage, custom lighting. A storage locker is conveniently located on the unit floor. The building offers 24hr door staff, security guard, on-site management and engineering, indoor and outdoor pools, whirlpool, health club, sundeck, racquetball court, garden area and grocery. Laundry room too, but you already have in-unit laundry! 3 CTA bus and express routes at the building and the Red line just minutes away. Back door to park walking path, easy access to Foster Beach, the walking/running/biking path and the basketball courts. Assessments include heat, central A/C, cable, WiFi/internet. Parking available in building. This is a no pet building.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Circular Driveway, Heated Garage, On Site, Leased, Attached, Garage
  • Garage Spaces: 1
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 4
  • # of Stories: 54
  • Basement Description: None

HOA

  • Has HOA: Yes
  • HOA Fee: $844/monthly

Land Information

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

Lot Information

  • Parcel ID: 14082030171368
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1974

Tax Information

  • Annual Tax: $3,281

Utilities

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

Location

  • County: Cook

Listing Details


Listed by:
Julie Chesne
Compass
(773) 807-8580

Source:
Midwest Real Estate Data (MRED)
MLS#: 12403145
Midwest Real Estate Data (MRED)

Investment Summary


Monthly Cash Flow
-$806
Cap Rate
1.9%
Cash-on-Cash Return
-16.5%
Debt Coverage Ratio
0.33
Internal Rate of Return (5 years)
-11.9%

Purchase Details

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Purchase price:
$255,000
Amount financed:
-$204,000
Down payment:
$51,000
Closing costs:
$7,650
Rehab costs:
$0
Initial cash invested:
$58,650
Square feet:
835
Cost per square foot:
$305
Monthly rent per square foot:
$2.63

Financing Details

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Loan amount:
$204,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,207
Property tax:
$273
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,634

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (12%)
12%-$273-$3,281
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (38%)
38%-$844-$10,128
Total operating expenses: (76%)
76%-$1,667-$20,009

Cash Flow


Monthly Yearly
Net operating income:
$401 $4,812
Mortgage payments:
-$1,207 -$14,484
Cash flow:
$806 $9,672