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528 E Chicago St - 528 E Chicago St Elgin IL 60120 4 Unit Apartment Building Offered at $450,000 at a 4.43% Cap Rate Elgin, IL 60120
INVESTMENT HIGHLIGHTS
- 1.1 miles from Downtown Elgin, the Metra and Bus Depot
EXECUTIVE SUMMARY
Multi Family - Income Producing Investment Property * 2900 above ground SQFT * 1511 BSMT SQFT * $4050.00 per month in rents collected * 3 Car Garage * All units have been renovated over time: Unit #1 2013 to 2025, Unit #2 Bathroom Reno 2023, Unit #3 Kitchen Reno 2004 and Bathroom Reno 2023, Unit #4 Reno 2016. * 1.19 miles from Elgin Metra * Property located in Historical Elgin. Exterior recently stripped and painted $22,500. Historical Building * Lanldord does not charge for parking however, the market price could be around $100.00 per mo, per garage (3)
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$48,600
|
$16.52
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$48,600
|
$16.52
|
| Taxes |
$9,142
|
$3.11
|
| Operating Expenses |
$10,800
|
$3.67
|
| Total Expenses |
$19,942
|
$6.78
|
| Net Operating Income |
$28,658
|
$9.74
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $48,600 |
| Annual Per SF | $16.52 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $48,600 |
| Annual Per SF | $16.52 |
| Taxes | |
|---|---|
| Annual | $9,142 |
| Annual Per SF | $3.11 |
| Operating Expenses | |
|---|---|
| Annual | $10,800 |
| Annual Per SF | $3.67 |
| Total Expenses | |
|---|---|
| Annual | $19,942 |
| Annual Per SF | $6.78 |
| Net Operating Income | |
|---|---|
| Annual | $28,658 |
| Annual Per SF | $9.74 |
PROPERTY FACTS
| Price | $450,000 | Building Class | C |
| Price Per Unit | $112,500 | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 2,942 SF |
| Cap Rate | 4.43% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1875/2004 |
| Zoning | RC-3 - Multi Family Unit | ||
| Price | $450,000 |
| Price Per Unit | $112,500 |
| Sale Type | Investment |
| Cap Rate | 4.43% |
| No. Units | 4 |
| Property Type | Multifamily |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 2,942 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1875/2004 |
| Zoning | RC-3 - Multi Family Unit |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,300 | - |
| 1+1 | 2 | $825.00 | - |
| 1+1 | 3 | $1,100 | - |
| 1+1 | 4 | $825.00 | - |
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528 E Chicago St - 528 E Chicago St Elgin IL 60120
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