862 West Lill AvenueChicago, IL 60614Price: $2,400,000

  • Price: $2,400,000
  • 30 Days on Market
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Federal 30-year interest rate: 5.1% last updated on May 26, 2022
* 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.
  • 1969Year Built

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Endless opportunities in the heart of Lincoln Park with 860-862 W Lill Ave. Enjoy a potential 5.6 cap rate in this 8-unit condo deconversion opportunity or start from scratch and develop this double lot (50x125) in a prime location for new construction. Zoned RT-4, this condo association consists of 8 -1 bedroom condos (7 tenants/1 owner occupied generating $138,600 in gross yearly rent). Projected/Stabilazed yearly gross income $177,000. All units have central heat and in-unit washer/dryers. Almost all units sport hardwood floors and dishwashers and have seen recent updates. The residents share 6 exterior parking spaces on first come, first serve basis. Currently a self managed HOA, the association can be dissolved through the sale of the property allowing investors and developers to use their imagination. Financials are available upon request.

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Listed by Sophia Klopas and Christopher Johnson of Berkshire Hathaway HomeServices Chicago

Based on information submitted to MRED  as of May 27, 2022 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   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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