$1,674,900
Investment Summary
- Monthly Cash Flow
- -$6,937
- Cap Rate
- 0.7%
- Cash-on-Cash Return
- -21.6%
- Debt Coverage Ratio
- 0.12
- Internal Rate of Return (5 years)
- -16.9%
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
Designed by the famous Chicago architect Edward G McClellan in 1925. Mr McClellan left his artistic imprint on this unique one of a kind property. This architectural marvel combines 17th century English Gothic Revival design with 20th century opulence and 21st century modern convenience and amenities. When you add it all up, you have 100 PERCENT luxury and a true one of a kind property. You will not find a property like this and at this incredible value ANYWHERE in Chicago. Three incredibly spacious units over almost 9,000SF of living space make this the perfect property to decide if you want a private luxurious castle, have all your family under one roof yet three separate living areas. Or take advantage of the close proximity to the University of Chicago, Hyde Park, Obama Presidential Library , Jackson Park Golf Course & Harbor, La Rabida Children's Hospital and lease two of the units. What is truly incredible is that all of the original doors and door hardware are intact. Original built-in cabinetry, moulding, wainscoting, hardwood floors, and in one of the kitchens and three of the bathrooms the original tile is still there and in magnificent condition. Third floor used to be the maid's quarters and is flooded with natural lighting with the skylight in the living room. The original bench where the maid's would sit while waiting their next instructions is still intact and in perfect condition!! While staying true to the original finishes , the owner has modernized and updated the second floor and third floor kitchen ( quartz counters and new cabinetry) , second floor and third floor hall bathrooms (3rd floor bathroom with dual vanity and brand new custom steam shower) and brand new basement bathroom with a luxurious dual rain shower bath. Three separate private exterior areas for outdoor enjoyment. Off the third floor is a private balcony with seating for 6. Perfect for enjoying an intimate dinner, or reading your favorite book. Relax and enjoy the serenity of the garden patio, surrounded by several kinds of lush hydrangeas. Take a dip in your brand new hot tub hidden in a private location in the back. Have all your friends and family over and entertain them on your 600 square foot private deck that sits on top of the three car brick garage. Lawn equipped with brand new sprinkler system. You can search far and wide, you will not find anything close to this property in the Gold Coast, Hyde Park, Beverly, Oak Park, Evanston, or anywhere else. Seller does require proof of funds or pre-approval prior to approving a private showing.
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Location
Property Details
Parking
- Details: Garage Door Opener, On Site, Detached, Garage
- Garage Spaces: 3
- Spaces Total: 3
Bedroom Information
- # of Bedrooms: 8
Bathroom Information
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 21
- # of Stories: 3
- Basement: Yes
- Basement Description: Partially Finished, Full
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Masonry
- Roof Material: Slate
Land Information
- Land Use: Residential Income
- Land Use Subtype: Apartments (general)
Lot Information
- Parcel ID: 2024415002
- Lot Size: 0 sqft
Property Information
- Property Type: Multi Family
- Style: Other
- Year Built: 1926
Tax Information
- Annual Tax: $6,352
Utilities
- Heating: Natural Gas, Steam
Location
- County: Cook
Listing Details
Investment Summary
- Monthly Cash Flow
- -$6,937
- Cap Rate
- 0.7%
- Cash-on-Cash Return
- -21.6%
- Debt Coverage Ratio
- 0.12
- Internal Rate of Return (5 years)
- -16.9%
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:
| $1,674,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,339,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $334,980 |
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:
| $50,247 |
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:
| $385,227 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 0 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| n/a |
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:
| n/a |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,339,920 |
|---|---|
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:
| $7,926 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $529 |
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:
| $154 |
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:
| $8,609 |
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:
| $2,200 | $26,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$132 | -$1,584 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,068 | $24,816 |
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. | 24% | -$529 | -$6,352 |
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% | -$154 | -$1,848 |
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% | -$176 | -$2,112 |
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% | -$110 | -$1,320 |
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% | -$110 | -$1,320 |
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 | 49% | -$1,079 | -$12,952 |
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:
| $989 | $11,868 |
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. | -$7,926 | -$95,112 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $6,937 | $83,244 |