18%+ Cap Rehabbed North Chicago 2-Unit

[Fernando Angelucci]

Hello BP!

We have available for immediate assignment a frame 2-unit in North Chicago, just blocks away from the lake front and the North Chicago Metra Station.

1811 Park Ave, North Chicago, IL 60064

Price: $80,000

Estimated ARV: $115,000

Taxes: $1,856

Property Size: 1,828 sq. ft.

Lot Size: 5,000 sq. ft.

Units: 2 (3 bedrooms, 1 bath each)

Proforma GOI: $25,200

Estimated NOI: $19,000

Estimated Cap Rate: 18%+

Details: This frame 2-unit was rehabbed recently to rental grade quality and is currently vacant. Each unit has separate utilities. One of the furnaces is newer and the other is old and may need to be replaced. Units need to be cleaned and appliances provided (unless future tenants to provide). The property needs the rental inspection and certification from the city. Units can rent out for $1,050+ each.

Photos and Video Walkthroughs: https://www.dropbox.com/sh/899wmm4llb4zs0a/AAC3NyKVvQbPt7KW61A_ok1ca?dl=0

MLS Sold Comparables: https://www.dropbox.com/s/htng30efujhmxyn/MLS%20Sold%20Comparables%20for%201811%20Park%20Ave.%2C%20North%20Chicago%2C%20IL%2060064.pdf?dl=0

Documents: https://www.dropbox.com/sh/2yr18snai5w8swf/AADtfbDV8YJF7HfU89oVBR3Ga?dl=0

The deal goes to the first person to sign the assignment of contract and remit the assignment fee. If you are a wholesaler and are interested in marketing this property, you need to ask for our explicit approval before doing so. We will conduct one group showing unless the deal sells sight unseen.