Closed

$1,550,000

814 Newport Avenue, Chicago, IL 60657
9 Beds6 Baths59 days
814 Newport Avenue·Chicago, IL 60657
9Bedrooms
6Bathrooms
1900Year Built
About This Home

Stunning Rehabbed Greystone 3-flat + tall basement on a quiet 1-way street steps from Wrigley Field & Halsted! Great investment or perfect for a live-in owner. Exceptional income and 2 of the 3 units have been tastefully rehabbed including 2 newer kitchens with modern, flat-panel & shaker-style cabinets, granite countertops & stainless-steel appliances, and newer baths. ALL 3 UNITS HAVE 3 BEDROOMS, IN-UNIT LAUNDRY, GFA w/ CENTRAL-AIR CONDITIONING & 2 BATHROOMS, Large formal living room & dining rooms with Hardwood Floors throughout. All New Windows in 2011, newer Mechanicals (newer plumbing supply, some new electric, etc) & more! VERY Tall Basement and GENEROUS RM-5 ZONING (FAR = FLOOR AREA RATION OF 2.0) will allow for further income by expanding up (for a large duplex-up apartment) and/or down into the tall basement for a 4th, legal apartment OR combine with the first-floor unit to create a very large duplex-down unit! A unique side & back alley allows for 4 full exterior parking spots (with room to expand for a 5th parking spot) all 4 are currently rented through Spot-Hero with an outstanding annual income of $23K! (each spot averages $479 per month per spot). Excellent location with a short walk to Wrigley Field and steps from all the Wrigleyville & Lakeview amenities on Halsted & Clark including great area restaurants, coffeehouses, shopping, nightlife, parks, lakefront, EL stop, schools & more! - Top Floor/UNIT #3; 3-bed/1.5-bath (can easily add a shower for 2nd full bath) - lease exp 7/31/25 @ $2,990 per month...UNIT #2; 2-bed/2-bath and was just rented @ $3,200 per month ...UNIT #1; 3-bed/2-bath (lease exp 7/31/25 @ $2,670 per month). 4 gas meters and 4 electric panels. ***EXCELLENT TOTAL ANNUAL INCOME of $129,320 minus - $31,354 in total expenses = $97,966 (NOI) TOTAL ANNUAL NET OPERATING INCOME for a Solid 6.1% CAP rate.***Also, investing an additional $120K in creating a legal 4th garden unit which is allowed under the current R5 zoning (existing ceiling height is very tall @ 7'-8") & 5th parking spot brings the CAP rate up to 8%!!

MLS# 12188936Listed October 15, 2024Residential IncomeGreystone
Property Details

Beds & Baths

Total Bedrooms9
Total Bathrooms6
Total Rooms18

Size & Structure

Year Built1900
Lot Size25 X 117

Location

CountyCook
TownshipLake View
Zip Code60657

Financial

List Price$1,550,000
Annual Taxes (2022)$21,281
Monthly Tax Est.$1,773
Parcel #14204100480000
Interior Features

Heating

Natural GasForced Air

Basement

UnfinishedExterior EntryBath/StubbedFullWalk-Out Access
Exterior & Lot

Construction

BrickStone
Utilities & Parking

Sewer

Public Sewer

Water Source

Lake MichiganPublic

Parking

Alley AccessOversizedGarage Faces SideOn SiteOwned
Schools
Elementary
Nettelhorst Elementary School
District: 299
High School
Lake View High School
District: 299
Tax & Financial
Annual Taxes
$21,281
Tax Year 2022
Monthly Tax Est.
$1,773
per month
Property Location

814 Newport Avenue, Chicago, IL 60657 — Cook County

$1,550,000
814 Newport Avenue
9 bd6 ba
VL
Vittoria Logli
Top Glenview Agent

IL License 475.178467 · (847) 810-8438

Quick Facts
59 days on market
25 X 117
$21,281/yr taxes
$9,919
estimated monthly payment
Principal & Interest
$8,146/mo
Property Tax
$1,773/mo
$1,550,000
20% — $310,000
3%50%
6.875%
3%12%
Loan Amount
$1,240,000
Down Payment
$310,000

* Estimated payment only. Actual rates, taxes, and insurance may vary. Contact a lender for a personalized quote.

Listed by
Compass
Agent: Derek DiSera
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