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    1628 N Drake Avenue

    Chicago, IL 60647
    • $690,000
    • STATUS: Active
    • ON SITE: 7 days
    • MLS #: 11211927
    UPDATED: 26 min ago
    $690,000
    • 8
      BEDS
    • 0.1
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1901
    County:

    School Ratings & Info

    School District:
    299

    Description

    Excellent opportunity to own a recently rehabbed 3-unit less than 2 blocks from the 606 in Logan Square. 1628 N Drake features three large apartments, including two three-bed one-bathroom units and one two-bedroom one-and-a-half-bathroom unit, each with excellent large living spaces and kitchens. 1628 N Drake features new kitchens and baths, furnaces, copper plumbing, tankless water heaters, in-unit laundry, stainless steel appliances, and new windows. Gated parking pad in the back allows for 3+ cars. Excellent opportunity for an owner occupant or investor. Separate utilities. Tenants pay for heat and electric. 1628 N Drake provides a turnkey property with strong cash-flows on day 1 (in-place cap rate 7.12%) and presents additional upside potential due to below-market rents (pro forma cap rate 8.00%).

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    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or John Lyons Real Estate | Baird & Warner. Based on information submitted to the MRED as of 2021-09-16T07:22:27.253 UTC. 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    1628 N Drake Avenue Chicago, IL 60647

    • Price: $690,000
    • Status: Active
    • Updated: 26 min ago
    • MLS #: 11211927
    8
    Beds
    0
    Baths
    0
    ½ Baths
    0.1
    Acres
    1901
    Built
    Neighborhood:
    Chi - Humboldt Park
    County:
    Cook
    Area:
    Chi - Humboldt Park
    School District:
    299
    Property Description
    Excellent opportunity to own a recently rehabbed 3-unit less than 2 blocks from the 606 in Logan Square. 1628 N Drake features three large apartments, including two three-bed one-bathroom units and one two-bedroom one-and-a-half-bathroom unit, each with excellent large living spaces and kitchens. 1628 N Drake features new kitchens and baths, furnaces, copper plumbing, tankless water heaters, in-unit laundry, stainless steel appliances, and new windows. Gated parking pad in the back allows for 3+ cars. Excellent opportunity for an owner occupant or investor. Separate utilities. Tenants pay for heat and electric. 1628 N Drake provides a turnkey property with strong cash-flows on day 1 (in-place cap rate 7.12%) and presents additional upside potential due to below-market rents (pro forma cap rate 8.00%).
    Exterior Features

    Exterior Building Type Brick Lot Size Less Than .25 Acre Multi Family Type 3 Flat Parking Space/S Parking Features UnassignedOff Alley Parking Onsite Yes Parking Ownership Owned Parking Total 3 Waterfront YN No

    Interior Features

    Basement Unfinished Basement Details Full Bedrooms Below Grade 0 Bedrooms Total 8 Full Baths In Building 3 Half Baths In Building 1 Heating Natural GasForced Air Rooms Total 17

    Property Features

    Additional Parcels YN No Age 100+ Years Built Before1978 YN Yes Corporate Limits Chicago General Information None Gross Income 60180 Insurance Expense 1465 Net Operating Income 49785 New Construction YN No Ownership Fee Simple Rebuilt YN No Rehab Year 2020 Sewer Public Sewer Special Listing Conditions None Tax Annual Amount 7562.15 Tax Year 2019 Total Numberof Unitsin Building 3 Total Rental Income 60180 Township Jefferson Type Two To Four Units Water Source Public

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Chicago Real Estate Resources.


    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or John Lyons Real Estate | Baird & Warner. Based on information submitted to the MRED as of 2021-09-16T07:22:27.253 UTC. 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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