Chicago, IL 60622 3 Unit Mixed-Use $399,900 Interra Realty LLC 640 North LaSalle Street, Ste 200 Chicago, Illinois 312-361-3140 www.interrarealty.com info@interrarealty.com
CONFIDENTIALITY AND DISCLAIMER The information contained in the following Marketing Package is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Interra Realty LLC. It should not be distributed to any other party without the written consent of Interra Realty LLC. This Marketing Package was prepared to provide summary information which has not been verified and it should be used only to establish a preliminary level of interest in the subject property. The information contained herein is NOT a substitute for a thorough due diligence investigation. Interra Realty LLC has not made any investigations, and makes no warranty or representation, with respect to the financial information for the subject property, the future financial performance of the subject property, the size and square footage of the property and the improvements, the presence or absence of any contaminating substances, PCBs, asbestos, the compliance with Local, State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. All estimates of market rents and/or projected rents and pro-forma expenses that may be provided to a party do not necessarily mean that rents can be established at or increased to that level or that the property can be operated at that expense level. Potential Buyers must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents and expenses from or for the property. The information contained in this Marketing Package has been obtained from sources we believe to be reliable; however, Interra Realty LLC has not verified, and will not verify, any of the information contained herein, nor has Interra Realty LLC conducted any investigations regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. ALL POTENTIAL BUYERS MUST TAKE APPROPRIATE MEASURES TO VERIFY ALL OF THE INFORMATION SET FORTH HEREIN. POTENTIAL BUYERS ASSUME ALL RISK OF ANY INACCURACIES OR INCONSISTENCIES. Legal questions should be discussed with an attorney. Tax questions should be discussed with a certified public accountant or tax attorney. Title questions should be discussed with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed with appropriate engineers, architects, contractors, other consultants and governmental agencies.
Property Information Investment Details Chicago, IL 60622 Humboldt Park Neighborhood 3 Unit Mixed-Use Built in 1898 PIN: 16-01-408-008-0000 Purchase Information Purchase Price: Price Per Unit: Price Per SF: $399,900 $133,300 $97.54 Financial Details Current Market Cash Return: 7.65% 15.35% Total Return (with principal reduction): 11.42% 19.12% Capitalization Rate: 6.55% 8.86% Debt Coverage Ratio (DCR): 1.54 2.08 Gross Rent Multiplier (GRM): 8.33 6.80
Rent Roll Number Unit Unit Type Rooms Square Feet Unit Rent Lease Expiration Tenant Notes 1 1041-1 Retail 2.0 1,500 $2,000 Vacant 2 1041-2 3Bdr/1Ba 6.0 1,300 $1,000 6/30/2014 3 104103 3Bdr/1Ba 6.0 1,300 $1,000 MTM 8 yrs. Total Don t Click 4,100 $4,000 Don't Click
Tax Bills
, Chicago, IL 60622 vacant retail space-1st floor parking-2 cars typical bathroom rear porches individual furnace typical kitchen
Current Revenue Details Unit Type No. of Units Rooms Square Feet Average Monthly Rents Potential Current Income Average Market Rent Estimated Market Income 3Bdr/1Ba 2 6.0 1,300 $1,000 $2,000 $1,400 $2,800 Retail 1 2.0 1,500 $2,000 $2,000 $2,000 $2,000 Parking 2 $0 $0 $50 $100 Scheduled Gross Income (Monthly) $4,000 $4,900 Scheduled Gross Income (Annual) $48,000 $58,800 Estimated Vacancy Loss 10.00% ($4,800) ($5,880) Gross Collected Income (Annual) $43,200 $52,920
Current Revenue Summary Potential Current Estimated Market Income Income Scheduled Gross Income (Monthly) $4,000 $4,900 Scheduled Gross Income (Annual) $48,000 $58,800 Vacancy Loss 10.00% ($4,800) ($5,880) Gross Collected Income (Annual) $43,200 $52,920 Current Expenses (Annual) Expense Item Per Unit Per Square Foot % of GCI Current Expenses Estimated Market Expenses Taxes $1,953 $1.43 13.56% $5,860 $5,860 Insurance $1,376 $1.01 9.55% $4,127 $4,127 Electric $167 $0.12 1.16% $500 $500 Water $400 $0.29 2.78% $1,200 $1,200 Trash/Scavenger $0 $0.00 0.00% $0 $0 Management* $720 $0.53 5.00% $2,160 $2,646 Janitorial* $300 $0.22 2.08% $900 $900 Turnover Costs* $300 $0.22 2.08% $900 $900 Misc. and Reserves* $450 $0.33 3.13% $1,350 $1,350 Total Expenses 39.34% $16,997 $17,483 Net Operating Income 60.66% $26,203 $35,437 *Broker Pro-Forma
Amortization Purchasing Details Down Payment First Mortgage Second Mortgage Total Investment Price $119,970 $279,930 - $399,900 Percentage 30.00% 70.00% - Interest Rate 4.50% - Amortization Period (Years) 30 - Principal $4,516 - $4,516 Interest Expense $12,504 - $12,504 Annual Debt Service $17,020 - $17,020 Return on Investment Current Return Market Estimate Gross Collected Income $43,200 $52,920 Total Expenses $16,997 $17,483 Net Operating Income $26,203 $35,437 Annual Debt Service $17,020 $17,020 Cash Flow 7.65% $9,183 15.35% $18,417 Principle Reduction 3.76% $4,516 3.76% $4,516 Total Return 11.42% $13,699 19.12% $22,933
Signed - On File with Interra Signed - On File with Interra