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    3110 W Lyndale Street

    Chicago, IL 60647
    • $1,209,000
    • STATUS: Active
    • ON SITE: 35 days
    • MLS #: 11008043
    Price Reduced
    UPDATED: 67 min ago
    $1,209,000
    • 10
      BEDS
    • 0.06
      ACRES
    • 4
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1887
    County:

    School Ratings & Info

    School District:
    299

    Description

    We are pleased to present 3110 W Lyndale. Originally built in 1887, this building has an excellent unit mix consisting of two 2-bed apartments and two 3-bed apartments. The asset is currently 100% occupied, and the average rent is $1911. The asset has benefited from many recent capital improvements. Infrastructure improvements include updated electrical service, individual HVAC, plumbing, roof and windows. Unit amenities include updated kitchens, baths, stainless steel appliance package including dishwasher, in-unit washers, dryers, white quartz counters, white shaker cabinets, newer flooring and rear decks. The (2) two story second floor units are approximately, 1,200 square feet and rented for $2,185 and $2,110 respectively. The first floor apartments are approximately 800 square feet and rented for $1,689 and $1,660 respectively. A new investor could continue this already proven concept and add value by duplexing the first floor units down and increase rents by an estimated $525 per unit to $2,185. Thereby increasing the net operating income by $12,600. Moreover, there may be an opportunity to force appreciation through the addition of garden apartments as the property is located in the City of Chicago's newly designated Accessory Dwelling Unit (ADU) pilot zone. In Logan Square, 3110 W Lyndale is walking distance to restaurants, shopping, nightlife, public transportation and Palmer Square Park. With a location just a short drive to the Kennedy Expressway, makes this a community ideal for commuters not just for the city, but the greater Chicagoland area. The palmer Square location in Logan Square doesn't get much better than this: A 5 -minute walk will get you to The Square/Logan Square Park and Blue Line stop. Lyndale Avenue is a very quiet residential one - way street with ample parking, providing easy access to all the dining and retail of Milwaukee Avenue. This is a rapidly appreciating neighborhood. This opportunity gives an investor the opportunity to acquire a well located asset, achieving risk adjusted returns from day one and add value, thereby increasing cashflow and forcing appreciation.

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    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Carolyn and Hillary Homes | Charles Rutenberg Realty. Based on information submitted to the MRED as of 2021-04-21T15:54:31.03 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    3110 W Lyndale Street Chicago, IL 60647

    • Price: $1,209,000
    • Status: Active
    • Updated: 67 min ago
    • MLS #: 11008043
    10
    Beds
    4
    Baths
    0
    ½ Baths
    0.06
    Acres
    1887
    Built
    Neighborhood:
    Chi - Logan Square
    County:
    Cook
    Area:
    Chi - Logan Square
    School District:
    299
    Property Description
    We are pleased to present 3110 W Lyndale. Originally built in 1887, this building has an excellent unit mix consisting of two 2-bed apartments and two 3-bed apartments. The asset is currently 100% occupied, and the average rent is $1911. The asset has benefited from many recent capital improvements. Infrastructure improvements include updated electrical service, individual HVAC, plumbing, roof and windows. Unit amenities include updated kitchens, baths, stainless steel appliance package including dishwasher, in-unit washers, dryers, white quartz counters, white shaker cabinets, newer flooring and rear decks. The (2) two story second floor units are approximately, 1,200 square feet and rented for $2,185 and $2,110 respectively. The first floor apartments are approximately 800 square feet and rented for $1,689 and $1,660 respectively. A new investor could continue this already proven concept and add value by duplexing the first floor units down and increase rents by an estimated $525 per unit to $2,185. Thereby increasing the net operating income by $12,600. Moreover, there may be an opportunity to force appreciation through the addition of garden apartments as the property is located in the City of Chicago's newly designated Accessory Dwelling Unit (ADU) pilot zone. In Logan Square, 3110 W Lyndale is walking distance to restaurants, shopping, nightlife, public transportation and Palmer Square Park. With a location just a short drive to the Kennedy Expressway, makes this a community ideal for commuters not just for the city, but the greater Chicagoland area. The palmer Square location in Logan Square doesn't get much better than this: A 5 -minute walk will get you to The Square/Logan Square Park and Blue Line stop. Lyndale Avenue is a very quiet residential one - way street with ample parking, providing easy access to all the dining and retail of Milwaukee Avenue. This is a rapidly appreciating neighborhood. This opportunity gives an investor the opportunity to acquire a well located asset, achieving risk adjusted returns from day one and add value, thereby increasing cashflow and forcing appreciation.
    Exterior Features

    Exterior Building Type Vinyl Siding Number Of Cars 3 Parking Space/S Parking Features None Parking On Site Yes Parking Ownership Owned Parking Total 3 Unit1 Floor Level 1 Unit2 Floor Level 1 Unit3 Floor Level 2 Unit4 Floor Level 0 Waterfront YN No

    Interior Features

    3 Bedroom Unit In Building Yes Appliances Features Unit1 StoveRefrigeratorWasherDryerDishwasherMicrowaveCentral Air ConditionerLaundry Hook-Up Appliances Features Unit2 StoveRefrigeratorWasherDryerDishwasherMicrowaveCentral Air ConditionerLaundry Hook-Up Appliances Features Unit3 StoveRefrigeratorWasherDryerDishwasherMicrowaveCentral Air ConditionerLaundry Hook-Up Appliances Features Unit4 StoveRefrigeratorWasherDryerDishwasherMicrowaveCentral Air ConditionerLaundry Hook-Up Basement FullWalkout Basement Description Partially Finished Bathrooms Total Integer 4 Bedrooms Below Grade 0 Bedrooms Possible 10 Full Baths In Building 4 Full Baths In Unit1 1 Full Baths In Unit2 1 Full Baths In Unit3 1 Full Baths In Unit4 1 Half Baths In Building 0 Half Baths In Unit1 0 Half Baths In Unit2 0 Half Baths In Unit3 0 Half Baths In Unit4 0 Heating Natural GasElectric Number Of Bedrooms Unit1 2 Number Of Bedrooms Unit2 2 Number Of Bedrooms Unit3 3 Number Of Bedrooms Unit4 3 Number Of Rooms Unit1 4 Number Of Rooms Unit2 4 Number Of Rooms Unit3 7 Number Of Rooms Unit4 3 Rooms Total 15

    Property Features

    Age Description 100+ Years Built Before1978 YN Yes Corporate Limits Chicago General Information None Gross Income 91728 Insurance Expense 1450 Lease Exp Date Mo Yr Unit1 05/30 Lease Exp Date Mo Yr Unit2 06/31 Lease Exp Date Mo Yr Unit3 6/31 Lease Exp Date Mo Yr Unit4 6/31 Lot Size Less Than .25 Acre Lot Size Dimensions 25X107 New Construction YN No Property Sub Type 2 Story Unit/S Rebuilt YN No Rehab YN No Security Deposit Unit1 0 Security Deposit Unit2 0 Security Deposit Unit3 0 Security Deposit Unit4 0 Sewer Public Sewer Special Assessments N Special Listing Conditions List Broker Must Accompany Special Service Area N Tax Annual Amount 12670 Tax Year 2019 Tenant Pays Unit1 ElectricGasHeat Tenant Pays Unit2 ElectricGasHeat Tenant Pays Unit3 ElectricGasHeat Tenant Pays Unit4 ElectricGasHeat Unit1 Rent 1660 Unit2 Rent 1689 Unit3 Rent 2185 Unit4 Rent 2110 Water Sewer Expense 1280 Water Source Lake Michigan Zoning Multi

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Keller Williams Onechicago.


    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Carolyn and Hillary Homes | Charles Rutenberg Realty. Based on information submitted to the MRED as of 2021-04-21T15:54:31.03 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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