$6,900,000
Investment Summary
- Monthly Cash Flow
- -$43,402
- Cap Rate
- -1.9%
- Cash-on-Cash Return
- -32.8%
- Debt Coverage Ratio
- -0.33
- Internal Rate of Return (5 years)
- -27.6%
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
Experience the pinnacle of luxury living at the highly coveted 9 W. Walton in Chicago's prestigious Gold Coast. Residence 2802 is an exquisite half-floor home spanning 4,500 sq. ft., complemented by an expansive 750 sq. ft. wrap-around terrace featuring a hot tub and overhead heaters for year-round enjoyment. This meticulously upgraded 3-bedroom + office/den, 3 1/2 bathroom home offers unparalleled craftsmanship, cutting-edge automation, and premium finishes throughout.The state-of-the-art kitchen is equipped with a Wolf 60" range, dual full-size ovens, a steam oven, warming drawer and a built-in Wolf coffee maker. Two full-size Gaggenau refrigerators/freezers, two Miele dishwashers, and The Galley sink with dual faucets ensure effortless entertaining. The 14' waterfall island, adorned with Azul Imperial Quartzite, is both a statement piece and a functional hub, complete with pop-up outlets and custom O'Brien Harris cabinetry. The living room is anchored by a 60 inch linear ventless fireplace framed in Iceland bookmatched porcelain. Custom millwork and shelving by O'Brien Harris seamlessly integrate a tall wine refrigerator, Sub-zero beverage refrigerator, and a silver hammered bar sink with an ice maker, all set against underlit Iceberg quartzite countertops. Escape to the opulent primary suite, which includes a large sitting room/office/den outfitted with closets, a built-in bar, Miele coffee maker, and a Sub-Zero beverage refrigerator. The massive walk-in closet provides generous storage, while the spa-like primary bathroom indulges with an oversized dual shower with a TV, steam, body sprays, and a rain shower, a custom bathtub with a pop-up TV lift and built-in champagne bucket, and a separate water closet with a Toto Washlet toilet. Luxurious Princess White Quartzite counters, a towel-warming drawer, custom cabinetry and large windows complete this serene retreat.Additional features include heated stone hallways with inlaid runners, heated bathroom floors throughout, a large laundry room with custom cabinetry and sink, and fully updated Control4 automation for lighting, shades, and sound. This exceptional residence includes two valet parking spaces and a storage unit. Residents of No. 9 Walton enjoy unparalleled five-star amenities, including a multi-level fitness center, an indoor pool, a steam room, and a sauna. For recreation and entertainment, the building features a golf simulator and an elegant hospitality room with a bar, catering kitchen and an expansive terrace. Additional luxuries include two well-appointed guest suites, a house car service, 24-hour white-glove door staff, and onsite professional management.
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Location
Property Details
Parking
- Description: Heated
- Details: On Site, Attached, Garage
- Garage Spaces: 2
- Spaces Total: 2
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 8
- # of Stories: 38
- Basement Description: None
- Fireplace: Yes
HOA
- Has HOA: Yes
- HOA Fee: $4,937/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 17044350381060
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Year Built: 2018
Tax Information
- Annual Tax: $129,360
Utilities
- Heating: Natural Gas, Forced Air, Zoned
- Cooling: Central Air
Location
- County: Cook
Listing Details
Investment Summary
- Monthly Cash Flow
- -$43,402
- Cap Rate
- -1.9%
- Cash-on-Cash Return
- -32.8%
- Debt Coverage Ratio
- -0.33
- Internal Rate of Return (5 years)
- -27.6%
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:
| $6,900,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$5,520,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $1,380,000 |
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:
| $207,000 |
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:
| $1,587,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,500 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,533 |
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:
| $1.60 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $5,520,000 |
|---|---|
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:
| $32,653 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $10,780 |
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:
| $504 |
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:
| $43,937 |
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:
| $7,200 | $86,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$432 | -$5,184 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,768 | $81,216 |
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. | 150% | -$10,780 | -$129,361 |
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% | -$504 | -$6,048 |
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% | -$576 | -$6,912 |
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% | -$360 | -$4,320 |
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% | -$360 | -$4,320 |
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. | 69% | -$4,937 | -$59,244 |
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 | 243% | -$17,517 | -$210,205 |
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:
| -$10,749 | -$128,988 |
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. | -$32,653 | -$391,836 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $43,402 | $520,824 |