3100 W Douglas Blvd
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3100 W Douglas Blvd
15 Unit Block of Flats £1,345,814 (£89,721/Unit) 4.01% Net Initial Yield Chicago, IL 60623
Investment Highlights
- Directly overlooking the beautiful Douglas Park which currently houses a miniature golf course, five playgrounds, an outdoor swimming pool, soccer etc
- Lower Garden Level not currently utilized, room for coin laundry value add.
- Douglass Blvd and Albany St have street parking on both sides or the street providing double the amount of parking spaces directly in front.
Executive Summary
15 Unit Building - 9 units - 2 Bedrooms 835 SqFt, 3 units - 3 Bedrooms 1,168 SqFt, and 3 units - 5 bedrooms units 1,797 SqFt.
Rental prices are below market rate, all units are large is size with significant upside on the rental income. The 2024 property taxes will reduce to $16,916 (payable 2025). New boiler was installed October 2023, significantly reducing the operating expenses. The potential Cap Rate is 8% based on the Market Rental Rates, reduced taxes and the the high efficiency boiler.
Rental prices are below market rate, all units are large is size with significant upside on the rental income. The 2024 property taxes will reduce to $16,916 (payable 2025). New boiler was installed October 2023, significantly reducing the operating expenses. The potential Cap Rate is 8% based on the Market Rental Rates, reduced taxes and the the high efficiency boiler.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,345,814 | Apartment Style | Low Rise |
| Price Per Unit | £89,721 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Net Initial Yield | 4.01% | Building Size | 17,658 SF |
| No. Units | 15 | Average Occupancy | 93% |
| Property Type | Residential | Number of Floors | 3 |
| Property Subtype | Apartment | Year Built | 1913 |
| Price | £1,345,814 |
| Price Per Unit | £89,721 |
| Sale Type | Investment |
| Net Initial Yield | 4.01% |
| No. Units | 15 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 17,658 SF |
| Average Occupancy | 93% |
| Number of Floors | 3 |
| Year Built | 1913 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 9 | - | 835 |
| 3+1 | 3 | - | 1,168 |
| 5+1 | 3 | - | 1,797 |
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Walk Score ®
Very Walkable (73)
Bike Score ®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 16-24-103-039-0000 | Total Assessment | £62,519 (2024) |
| Land Assessment | £12,333 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £50,186 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
16-24-103-039-0000
Land Assessment
£12,333 (2024)
Improvements Assessment
£50,186 (2024)
Total Assessment
£62,519 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
zoning
| Zoning Code | R-3 (Residential District - A district designed primarily for single-family dwellings with a lot size of not less than 10,000 square feet) |
| R-3 (Residential District - A district designed primarily for single-family dwellings with a lot size of not less than 10,000 square feet) |
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3100 W Douglas Blvd
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