1051 North Drake AvenueChicago, IL 60651Price: $230,000

  • Price: $230,000
  • Est. Mortgage of $/month
  • 234 Days on Market
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Federal 30-year interest rate: 4.65% last updated on Sep 20, 2018
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 3Bathroom
  • 6Bedrooms
  • 2,000Square Feet
  • 1912Year Built

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Attention INVESTORS!!!: Cap rate=10.43%. Take your money out of the stock or crypto market before both crash and put it in a solid, income producing investment for years to come. The $2,000 monthly rent is paid almost entirely by the Chicago Housing Authority (CHA) and the lease goes until 03/31/2020. Much better than that money market account that pays you 0.00001%. Property has been inspected several times by the CHA and their quality control department. All type of repairs have been made to this 6 bedrooms- 2.5 bathrooms huge home with 3 stories of living space. New roof, new furnace, boiler room, new carpet, paint, etc. Check the map for location just 5 blocks west from Kedzie and the park where there are several new construction homes. Enjoy the cash flow for a few years, then cash out selling it for top dollar few years from now. 4 lines of buses take you anywhere: Grand, Chicago, Division and Homan/Kimball lines. Pictures with metal in windows were taken before tenant moved in.

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Listed by German Llanos of 24 Hour Real Estate LLC

Based on information submitted to MRED as of September 25, 2018 . 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. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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