1408 W Belmont Avenue
Chicago, IL 60657

Status: Sold
Multi Family
6 beds
0 baths
0 sq.ft
Listing Price: $1,590,000
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About this home

Investment opportunity in highly desirable Southport Corridor - three residential condo units (Units 2, 3, and 4) comprising 100% ownership of the HOA and common elements at 1408 W Belmont. $112k annual / $9.5k monthly rental income. Fully leased - Unit 2 is month-to month, Units 3 and 4 occupied thru March 2025. Excellent tenants pay on time. Rear half of lot (approx. 25x50ft) used as parking - eligible for ADU, may be redeveloped to extend current building footprint, add garage and/or additional unit(s). Unit 1 ground floor commercial is separately owned and not included in sale / sold separately. Prime location near corner of Belmont & Southport. Street recently repaved and sidewalk widened - easy access to L stations, two blocks to Whole Foods, bus stop in front of property. Penthouse Unit 4 renovated 2018 with high-end kitchen. All units have newer mechanicals, in-unit W/D, rear decks. Seller is a licensed IL real estate broker.

Property details

Virtual Tour, Parking / Garage, Exterior Features, Multi-Unit Information
Age 21-25 Years
3 Bedroom Unit in Building No
Approx Year Built 2000
Parking Total 6
Exterior Building Type Brick,Block
Parking Features Driveway, Alley Access, Direct Access, More Than 1 Spc/Unit, Rear/Side Entry
Garage On-Site Yes
Parking Ownership Owned
Parking Space/s
Rehab Year 2018
MRD Virtual Tour None
Virtual Tour Date 06/18/2024 8:17 pm
School / Neighborhood, Utilities, Financing, Location Details
CommunityFeatures Sidewalks, Street Lights, Street Paved
Area Major CHI - Lake View
Corporate Limits Chicago
Directions NEAR NORTHWEST CORNER OF BELMONT & SOUTHPORT AVENUES
Equipment CO Detectors, Multiple Water Heaters, Water Heater-Gas
Elementary Sch Dist 299
Heat/Fuel Natural Gas
High Sch Dist 299
Sewer Public Sewer
Water Lake Michigan, Public
Jr High/Middle Dist 299
Township Lake View
Interior Features
Basement Description None
Bath Amenities Separate Shower, Double Sink, Soaking Tub
Basement Bathrooms No
Basement None
Bedrooms Count 6
Bedrooms Possible 6
Baths Count 6
Full Baths in Building Count 6
Total Rooms 18
Units
unit 1
Beds Total 2
Baths Total 2
Actual Rent 3150
Appliances And Features Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Disposal, Central Air Conditioner, Fireplace-Gas, Garage/Space, Laundry Hook-Up, Hardwood Floors, Cooktop
Full Baths Total 2
Lease Expiration Date 08/24
Rooms Total 6
Security Deposit 1500
Tenant Pays Electric, Gas, Heat, Parking
Floor Number 2
Square Feet 1500
unit 2
Beds Total 2
Baths Total 2
Actual Rent 3150
Appliances And Features Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Disposal, Central Air Conditioner, Fireplace-Gas, Garage/Space, Laundry Hook-Up, Hardwood Floors, Cooktop
Full Baths Total 2
Lease Expiration Date 03/25
Rooms Total 6
Security Deposit 3000
Tenant Pays Electric, Gas, Heat, Parking
Floor Number 3
Square Feet 1500
unit 3
Beds Total 2
Baths Total 2
Actual Rent 3045
Appliances And Features Stove, Refrigerator, Washer, Dryer, Dishwasher, Microwave, Disposal, Central Air Conditioner, Fireplace-Gas, Garage/Space, Laundry Hook-Up, Cathedral Ceilings, Hardwood Floors, Skylights/Windows, Cooktop
Full Baths Total 2
Lease Expiration Date 03/25
Rooms Total 6
Tenant Pays Electric, Gas, Heat, Parking
Floor Number 4
Square Feet 1500
Property / Lot Details
Deconversion N
Lot Dimensions 25X125
Lot Size Less Than .25 Acre
Ownership Condo
Type Unit 3 Flat, 1 Story Unit/s
Number Of Units in Building 3
Property Type Two to Four Units

Financials

Financing Cash
Gross Rental Income $112,000
Other Addl Income Parking Space/s
Investment Profile Residential Income

Tax/Assessments/Liens

Multiple Pin Numbers Yes
PIN 14203290471003
Special Assessments N
Taxes $25,556
Tax Exemptions None
Tax Year 2022
$1,590,000 Listing Price:
MLS # 11986116
Investment Profile Residential Income
Listing Market Time 59 days
Basement None
Type Unit 3 Flat, 1 Story Unit/s
Number of Units in Building 3
Parking Space/s
List Date 06/18/2024
Year Built 2000
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