3604 w diversey ave chicago, il 60647 · 2018. 3. 20. · logan square $765,000 3604 w diversey ave...

3 Newly Renovated Apartments Logan Square

$765,000

3604 W Diversey AveChicago, IL 60647

Take a look at LOGAN SQUAREDescribed as the "Midwest headquarters of hip," Logan Square has been named one of the 15 "hottest urban retail markets across North America." The ranking by the national commercial real estate services company Cushman & Wakefield was compiled by querying hundreds of its experts across the country, including brokers, property managers, appraisers and marketing executives.

Some of the criteria for "cool" are walkability, bicycle friendliness and ease of public transportation as well as availability of places to eat and hear music..Logan Square's coolness began two decades ago as artists flocked to the area from Wicker Park, where rents became too expensive, the report says. The launch of the Logan Square Farmers Market in 2007 "was a major touchstone," but growth since 2010 has been driven by new restaurants and bars, according to the report.

The report puts the average household income at $84,529, with 60 percent of its adult residents being college-educated. One in three residents are between the ages of 20 and 34, and 58 percent are renters.

At the heart of this community is the actual "square" in Logan Square. It comes together at the intersection of Kedzie and Logan Boulevard, where a circle interchange meets with Milwaukee Avenue. The boulevards themselves are widened thoroughfares that are set apart by grassy, landscaped medians and tall, stately trees that border both its sides. The neighborhood boasts four of them in total and these link together to form Chicago's "Emerald Necklace," an expansive system of interconnected parks and streetscapes dotted with beautifully-restored mansions, handsome greystone homes and majestic churches.

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RUBENST

Multi-Residential-OperatingInformation

5425DennyAveNorthHollywood,CA91601

Summary

Price: $2,950,000DownPayment: $2,750,000NumberofUnits: 8CostperLegalUnit: $368,750CurrentGRM: 14.45CurrentCAP: 4.69%Approx.Age: 2016Approx.LotSize: 11,113Approx.BuildingSF: 6,980CostperNetGSF: $423AnnualizedOperatingData

ScheduledGrossIncome: 204,120LessVacancyRateReserve: (6,124) 3.0%GrossOperatingIncome: 197,996LessExpenses: (59,570) 29.2%NetOperatingIncome: 138,427Pre-TaxCashFlow: 138,427 5.0%

*Asapercentofthedownpayment

ScheduledIncome EstimatedAnnualizedExpenses

No. Bed/Bath Monthly Monthlyof Units SF Rent/Unit Income

4 1+1.5-725sf $1,801 $7,2053 2+2-956sf $2,403 $7,2101 2+2-1214sf $2,595 $2,595

Avg.Rent/Gr.Sq.Ft. $2.44TotalScheduledRent: $17,010 TotalExpenses: $59,570

PerNetSq.Ft.: $8.53MonthlyScheduledGrossIncome: $17,010 PerUnit: $7,446AnnualScheduledGrossIncome: $204,120

theaccuracyoftheinformation.Referencestosquarefootageorageareapproximate.Buyermustverifytheinformationandbearsallriskforanyinaccuracies.Thisinformationhasbeensecuredfromsourceswebelievetobereliable,butwemakenorepresentationsorwarranties,expressedorimpliedasto



Summary





Taxes: $36,875No. Bed/Bath Monthly Monthly Insurance $0.50/RSF $3,490

of Units SF Rent/Unit Income Utilities $55/Unt/Mnt $5,2804 1+1.5-725sf $1,801 $7,205 Repairs+Maintenance $35/Unt/Mnt $3,3603 2+2-956sf $2,403 $7,210 Trash,Pest,Gard,Etc $25/Unt/Mnt $2,4001 2+2-1214sf $2,595 $2,595 Off-siteManager 4.0% $8,165

Avg.Rent/Gr.Sq.Ft. $2.44TotalScheduledRent: $17,010

MonthlyScheduledGrossIncome: $17,010AnnualScheduledGrossIncome: $204,120




Summary





Taxes: $36,875Insurance $0.50/RSF $3,490Utilities $55/Unt/Mnt $5,280Repairs+Maintenance $35/Unt/Mnt $3,360Trash,Pest,Gard,Etc $25/Unt/Mnt $2,400Off-siteManager 4.0% $8,165






Summary





Taxes: $36,875No. Bed/Bath SF Monthly Monthly Insurance $0.50/RSF $3,490

of Units Rent/Unit Income Utilities $55/Unt/Mnt $5,2804 1+1.5 725sf $1,801 $7,205 Repairs+Maintenance $35/Unt/Mnt $3,3603 2+2 956sf $2,403 $7,210 Trash,Pest,Gard,Etc $25/Unt/Mnt $2,4001 2+2 1214sf $2,595 $2,595 Off-siteManager 4.0% $8,165

TotalExpenses: $59,570PerNetSq.Ft.: $8.53PerUnit: $7,446




Summary



Taxes: $36,875No. Bed/Bath Monthly Monthly Insurance $0.50/RSF $3,490

of Units SF Rent/Unit Income Utilities $55/Unt/Mnt $5,2804 1+1.5-725sf $1,801 $7,205 Repairs+Maintenance $35/Unt/Mnt $3,3603 2+2-956sf $2,403 $7,210 Trash,Pest,Gard,Etc $25/Unt/Mnt $2,4001 2+2-1214sf $2,595 $2,595 Off-siteManager 4.0% $8,165






Summary

NumberofUnits: 8CostperLegalUnit: $368,750CurrentGRM: 14.45CurrentCAP: 4.69%Approx.Age: 2016Approx.LotSize: 11,113Approx.BuildingSF: 6,980CostperNetGSF: $423AnnualizedOperatingData











Summary

Price: $2,950,000DownPayment: $2,950,000









312.867.8744 | [email protected]

RENT ROLL

312.867.8744| [email protected]


Bedroom Living Room Bathroom Kitchen

RENTAL COMPS2815 N Springfield Unit 1

2627 N Ridgeway Ave

2656 N Hamlin

2823 N Central Park

Year Built: 1900Beds: 2Baths: 1Sq. Ft.: 1200Price: $1500$/SqFt: $1.25Notes: Remodeled

Year Built: 1912Beds: 2Baths: 1Sq. Ft.: 700Price: $1400$/SqFt: $2.00Notes: Older Appliances

Year Built: UnkBeds: 2Baths: 2Sq. Ft.:Price:$/SqFt:Notes:

900$1,595$1.77 Remodeled

Year Built: 1916Beds: 2Baths: 1Sq. Ft.: 700Price: $1450$/SqFt: $2.07

RemodeledNotes:


2447 N Kimball Ave , Chicago, Illinois 60647

3136 W Fullerton Ave , Chicago, Illinois 60647

2517 N Kimball, CHicago, IL 60647

2710 N California, Chicago, Illinois 60647

No. Of Units: 3Year Built: 1906Sale Price:Price/Unit:

$1,512,500$302,500

Sold Date: 6 / 1 / 2 017

No. Of Units: 3 Year Built: 1901Sale Price:Price/Unit:

$800,000$266,666

Sold Date: 3/23/2017

No. Of Units: 3Year Built: 1905Sale Price:Price/Unit:

$825,000$275,000

Sold Date: 6/22/2016

No. Of Units: 3Year Built: UNKSale Price:Price/Unit:

$1,080,000$360,000

Sold Date: 4/7/2017

SALES COMPS

312.867.8744| [email protected]

3604 w diversey ave chicago, il 60647 · 2018. 3. 20. · logan square $765,000 3604 w diversey ave...

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