NOT LISTED FOR SALE

Estimated Value: $5,092,505

18 Beds
12 Baths
-- Sq Ft
6,229 Sq Ft Lot

Last Sold August 21, 2018

Last sale price $4,800,000

Est. 6% increase in value since last sale

Current estimated payment $29,185/month

28 Days on Market

About This Home

As of August 2018

This is one of Lincoln Park's best locations. The corner of Lincoln Ave & Orchard & Belden. 12 Apartments and 4 Stores - right across the street from the old Children's Memorial Hospital which is being developed into 600 high end residential apartments and condos, and 150,000 sqft of retail space. This location has always been one of the most desirable Lincoln Park locations surrounded by restaurants, bars, and high end housing. The apartments have been updated. They are all 1 & 2 bedrooms. Rents range from $1355 to $1800/month. Commercial tenants are Chipotle, Swirlz Cupcakes, a hair salon, and a cleaners. The yearly income is $406,992.

Last Agent to Sell the Property

Harry Perl

Goldberg & Perl, Inc. License #471008772 Listed on: 06/15/2018

Last Buyer's Agent

Harry Perl

Goldberg & Perl, Inc. License #471008772 Listed on: 06/15/2018

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $24,959

Year Built

  • 1890

Lot Details

  • 6,229

Home Design

  • Brick Exterior Construction

Community Details

  • Insurance Expense $8,376

Listing and Financial Details

  • Tenant pays for electric, heat

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$24,959

Year Built

1890

Lot Details

0

Listing Details

  • Property Type: Multi Family 5+
  • Built Before 1978 (Y/N): Yes
  • Current Use: Residential-Multi-Family
  • Ownership Type: Corporation
  • Potential Use: Commercial, Residential-Multi-Family, Retail
  • Utilities To Site: Sanitary Sewer to Site, Water-Municipal
  • Zoning Type: MULTI
  • Estimated Age: Older
  • Net Operating Income Year: 2017
  • Net Oper Income: 310534
  • Repairs Decor Expense: 6834
  • Roof Coverings: Membrane, Rubber
  • Roof Structure: Flat
  • Scavenger Expense: 4800
  • Total Annual Exp: 96458
  • Total Annual Income: 406992
  • Total Monthly Income: 33916
  • Number of Ranges: 12
  • Number Of Refrigs: 12
  • Number Of Stories: 4
  • Estimated Year Built: 1890
  • Type Multi Family: Flats
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 4
  • Year Built: 1890

Exterior Features

  • Exterior Building Type: Brick
  • Construction: Brick
  • Frontage Access: City Street

Utilities

  • Fire Protection: Smoke or Fire Protectors
  • Heatventilation: Forced Air, Gas
  • Water Expense: 7351

Condo/Co-op/Association

  • Units in Building: 16

Fee Information

  • Electricity Expense: 1551
  • Electrical Service: Circuit Breakers
  • Janitor Expense: 5182

Lot Info

  • Lot Dimensions: 50X125
  • Parcel Identification Number: 14331080200000

Rental Info

  • Gross Rental Income: 33766
  • Tenant Pays: Electric, Heat

Multi Family

  • Expense Year: 2017
  • Insurance Expense: 8376
  • Number Of Dryers: 3
  • Number Of Washers: 3

Tax Info

  • Taxes: 62364

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 15, 2018
Closed on
Aug 21, 2018
Sold by
Niederman Legacy Holdings Llc
Bought by
701 W Belden Llc
Seller's Agent
Harry Perl
Goldberg & Perl, Inc.
Buyer's Agent
Harry Perl
Goldberg & Perl, Inc.
List Price
$4,800,000
Sold Price
$4,800,000
Current Estimated Value
$5,092,505

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$292,505

Purchase Details

Listed on
Jun 15, 2018
Closed on
Aug 14, 2018
Sold by
2256 N Orchard Llc
Bought by
Niederman Legacy Holdings Llc and K&M Hayes Llc
Seller's Agent
Harry Perl
Goldberg & Perl, Inc.
Buyer's Agent
Harry Perl
Goldberg & Perl, Inc.
List Price
$4,800,000
Sold Price
$4,800,000

Purchase Details

Closed on
Dec 5, 2014
Sold by
Orchard/Belden Llc
Bought by
2256 N Orchard Llc

Purchase Details

Closed on
Apr 10, 2006
Sold by
North Star Trust Co
Bought by
Orchard/Belden Llc

Purchase Details

Closed on
Oct 10, 1997
Sold by
Orchard Belden Llc
Bought by
Mid Town Bank & Trust Company Of Chicago and Trust #2146

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,050,000
Interest Rate
8%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
701 W Belden Llc $4,800,000 Attorney
Niederman Legacy Holdings Llc -- None Available
2256 N Orchard Llc $2,516,000 None Available
Orchard/Belden Llc -- None Available
Mid Town Bank & Trust Company Of Chicago -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mid Town Bank & Trust Company Of Chicago $1,050,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/21/2018 08/21/18 Sold $4,800,000 0.0% --
07/13/2018 07/13/18 Pending -- -- --
06/15/2018 06/15/18 For Sale $4,800,000 -- --
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $24,959 $212,140 $101,563 $110,577
2023 $24,323 $114,041 $89,375 $24,666
2022 $24,323 $114,041 $89,375 $24,666
2021 $23,799 $114,040 $89,375 $24,665
2020 $82,676 $357,573 $89,375 $268,198
2019 $81,714 $390,723 $89,375 $301,348
2018 $81,014 $390,723 $89,375 $301,348
2017 $67,373 $298,783 $140,625 $158,158
2016 $62,364 $298,783 $140,625 $158,158
2015 $57,374 $298,783 $140,625 $158,158
2014 $56,752 $295,295 $117,187 $178,108
2013 $55,554 $295,295 $117,187 $178,108
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: MRD09987209

Midwest Real Estate Data (MRED)

APN: 14-33-108-020-0000