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$149,900

Under Contract
6301 N Sheridan Rd Apt 20J, Chicago, IL 60660
1 Bed
1 Bath
850 Square Feet
0.00 Acres Lot
Built in 1963
Under Contract
378 Units
Checked: 15 hours ago
Updated: Jun 17, 2025 at 03:32AM

Investment Summary


Monthly Cash Flow
-$519
Cap Rate
1.5%
Cash-on-Cash Return
-18.1%
Debt Coverage Ratio
0.27
Internal Rate of Return (5 years)
-13.5%

Property Description


0.00 Acres Lot
Built in 1963
Under Contract
378 Units

MUST SEE AT SHORELINE TOWERS! A beautifully appointed high floor 1-bedroom/1-bath home features a large balcony with bright, sunny, unobstructed West and South city views from every room. Freshly painted with newer tile floors throughout, this spectacular home features an open kitchen with breakfast bar, all newer stainless-steel kitchen appliances and incredible closet space. Monthly assessment includes central heat/air-conditioning, water, scavenger, cable and internet, 24hr doorman, on site manager and engineers, rooftop deck, party room, bike room and so much more! Conveniently located in the best part of Edgewater - just steps away from Lake Michigan, Loyola University, restaurants, shopping, transportation, and entertainment. Pet friendly building.

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Location


Property Details


Parking

  • Description: Attached, Heated, Assigned Spaces, Unassigned, Visitor Parking, Valet, Garage, Space/s, Garage On-Site, Parking On-Site
  • Details: Garage Door Opener, Heated Garage, On Site, Leased, Attached, Guest, Valet, 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: 25
  • Basement Description: None

HOA

  • Has HOA: Yes
  • HOA Fee: $894/monthly

Land Information

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

Lot Information

  • Parcel ID: 14052030111284
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1963

Tax Information

  • Annual Tax: $1,061

Utilities

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

Location

  • County: Cook

Listing Details


Listed by:
Pearce Lashmett
Berkshire Hathaway HomeServices Chicago
(847) 234-2500

Source:
Midwest Real Estate Data (MRED)
MLS#: 12348190
Midwest Real Estate Data (MRED)

Investment Summary


Monthly Cash Flow
-$519
Cap Rate
1.5%
Cash-on-Cash Return
-18.1%
Debt Coverage Ratio
0.27
Internal Rate of Return (5 years)
-13.5%

Purchase Details

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Purchase price:
$149,900
Amount financed:
-$119,920
Down payment:
$29,980
Closing costs:
$4,497
Rehab costs:
$0
Initial cash invested:
$34,477
Square feet:
850
Cost per square foot:
$176
Monthly rent per square foot:
$2.00

Financing Details

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Loan amount:
$119,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$709
Property tax:
$89
Insurance:
$119
Private mortgage insurance (PMI):
$0
Monthly payment:
$917

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,700 $20,400
Vacancy loss: (6%)
6% -$102 -$1,224
Operating income:
$1,598 $19,176

Operating Expenses


% Rent Monthly Yearly
Property taxes: (5%)
5%-$89-$1,062
Insurance: (7%)
7%-$119-$1,428
Property management: (8%)
8%-$136-$1,632
Repairs & maintenance: (5%)
5%-$85-$1,020
Capital expenditures: (5%)
5%-$85-$1,020
HOA fees: (53%)
53%-$894-$10,728
Total operating expenses: (83%)
83%-$1,408-$16,890

Cash Flow


Monthly Yearly
Net operating income:
$190 $2,280
Mortgage payments:
-$709 -$8,508
Cash flow:
$519 $6,228