W Superior St Chicago Il 60612
Price change
- Saves13Sunny, updated single family home with income producing garden level unit in Ukrainian Village/Smith Park. 1st fl features huge LR/DR combo with diagonal oak floors, 10 ft ceilings and lots of southern light. Updated kitchen with custom cabinets, granite counters and stainless steel Kitchen Aid appliances. Spacious, adjoining dinette perfect for breakfast or lunch. Updated full bath and large bedroom/office are en suite for privacy. 2nd floor with 3 freshly carpeted bedrooms, vaulted ceilings and skylights, primary bd has a large California walk in closet and walk out deck. Sharp bathroom with soaking tub, separate shower and double bowl vanity. Convenient upstairs laundry room with side by side w& d. Lower level with a 2 years new high-end gut rehab 700sf 1bd, 1ba apartment with own laundry area and storage generating $17,000/yr. The lease runs through 5/31/22 at $1400 a month plus utilities. For outdoor entertaining there’s a large multi-tier deck with a pergola and a nice yard. Brick outdoor shed for storage and an older oversize garage. 3 furnaces and condensers, 2 tankless water heaters, ejector pump, building tuckpointed in 2020, decks treated and freshly painted, reasonable county taxes. Property in move in condition, in great location near shopping, nightlife and beautiful and friendly Smith Park, 5 min walk to the Metra. Great opportunity for a savvy home buyer!Read more
Chicago Il Real Estate & Homes For Sale
- Brokered byReal People RealtyNew – 1 hour ago
How To Finance A Duplex Property
There are a number of ways to secure financing when purchasing a multi-family or duplex property.
- Department of Veterans Affairs – Offers 100% financing options for retired or active military personnel.
- Rehab Loans – Will provide financing to purchase and renovate properties.
- Conventional Mortgage – Acquired through a mortgage broker or lender/bank.
- Federal Housing Administration Loan – lower down payments and credit requirements for medium to low-income families.
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Benefits Of Investing In Multi Unit Buildings For Sale
Multi-unit buildings have several advantages as investments. One of the main benefits is monthly cash flow from the rental income.
A multi-family home gives you more protection against vacancies. If one unit is vacant, you still have income from the others. A vacant single-family home doesnt give you any income until you find a new tenant.
Another benefit is that you can usually get better investment financing terms than for a single-family home. The bank considers the cash flow from an apartment building to be more predictable than a single-family home. The loan is less risky for the lender.
A multi-family building is a good way to build a larger portfolio of rental units. Buying an apartment building with ten units is much more efficient than buying ten individual houses.
Finally, you get significant tax benefits. You can deduct maintenance, repair, and operating costs from your taxable rental income. You can also take advantage of depreciation and cost segregation.
Residential or Commercial Property?
Chicago categorizes multi-unit buildings for sale into residential or commercial categories. Buildings with two to four units are considered residential. Buildings with 5 or more units are considered commercial.
Mixed-use properties, with a store or office on the first floor and apartments above it, are commercial real estate.
You usually get better terms for a mortgage loan with residential properties. You have basically the same loan options as for a single-family home.
W Byron St Apt 1 Chicago Il 60613
Active
We estimate this home will sell faster than81% nearby.
- Saves12Why Rent when you can OWN this Beautiful North Center 2 bedroom Corner Unit. Sunny & Bright, featuring a sleek & modern kitchen with glass tile backsplash, stainless steel appliances, granite counters and an abundance of cabinet space. Hardwood Floors throughout, Primary Bedroom with Walk-in Closet, Central Heat & AC, in-unit Laundry, Front Juliet Balcony & Rear Private Deck plus a Large Storage Closet in the basement round out this perfect starter home! Located in a fully gut rehabbed Classic Chicago Multi Conversion 13 unit building which offers a grand entrance with Original Marble Floors, Leaded Glass Door and Vintage Woodworking details. Well-managed with Low HOA’s and no Specials expected. The entire building was recently Tuckpointed and upgraded with New Rear Decks. Prime Location right near the Damen/Lincoln/Irving intersection and 2.5 blocks from the Brown Line El stop. Instant Access to numerous local restaurants, bars, shopping, grocery and banks. Located in the highly sought after Bell School district. Easy street parking with NO Cubs Game restrictions. A little over a mile to Wrigley Field and under 3 miles to Montrose Beach. Low-Priced Gated Parking available for rent right across the street. Schedule a showing today!Read more
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Real Estate Webmasters Will Open A New Window
The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Chicago Real Estate Mall are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is 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 deemed reliable but not guaranteed. Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.
Let’s Beat The Competition
Working with a broker who is well versed and experienced in multi-family and duplex housing will be a vital asset to your team. We offer a customized approach to each multi-family duplex unit we put on the market and with the knowledge and expertise gained over the year, you can be confident your sale is in the right hands!
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+ Flat Apartment Buildings
If you’re a seasoned landlord looking to get into the big bucks, a multi-unit building may be the next step in your realty career. Having the cash to put down 25% will make you more money in the long run, and with a balloon-type mortgage there are more opportunities to refinance, making units of 5 or larger money-making machines. The more units you have the more income is possible with a lower risk of vacancy. Economies of scale.
How To Finance A Multi
Financing options for Multi-family real estate in 2022 include the following:
FHA – Requires a minimum of 3.5% down payment
Conventional – Requires 20% down.
Veterans and Military families – 100% financing is available through VA program.
Rehab Loan – Provides funding for acquisition and improvements. Downpayment varies.
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Foreclosed Chicago Homes For Sale
Much like Chicago foreclosed apartment buildings for sale, Chicago foreclosed homes for sale in southside neighborhoods can be a great opportunity as a fix and flip property. Chicago foreclosed multi-family homes on the south side and foreclosed homes in Chicago westside neighborhoods for sale are often a great value due to their proximity to Downtown Chicago and lakeside parks such as Jackson Park.
12 unit foreclosed homes in Chicagos westside for sale come in all types of conditions from distressed and abandoned properties and even newly rehabbed properties that require cosmetic fixes.
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About Mobile Home Parts Store
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Buying Chicago Foreclosed Apartment Buildings For Sale From Urb Chicago
URB Chicago provides the fastest way to buy 6 unit foreclosed apartment buildings and houses for sale. We sell owner financed apartment buildings and owner-financed houses with a contract for deed agreements. Our contract for deed agreements allows you to buy a house for sale with low money down and affordable monthly payments. We also have a no credit check policy meaning bad credit, no credit, no problem!
Are you looking for foreclosed apartment buildings for sale in Chicago? Do you want to buy Chicago foreclosed homes for sale in southside neighborhoods? How about foreclosed homes in Chicago westside neighborhoods for sale?
Contact URB Chicago today and speak with one of our friendly, knowledgeable, and professional property specialists today.
S Paulina St Chicago Il 60609
Active
- Saves22PROFESSIONALLY MANAGED, CASH FLOWING, DUPLEXED, MULTI FAMILY AVAILABLE IN NEW CITY! This value-add property would be a big win for any investor’s portfolio or a FHA203k buyer! Property includes not one but TWO duplexed units totaling 10 bedrooms and 3 full bathrooms! Aggressively priced to sell, walk into tons of equity built into the list price for updates and more! **Renovated, frame, 2 flat, multi units have sold for an average of $266,000 within a square mile of this property**. This property also includes: tenants who are current and pay on time, 6 beds/2 baths in unit #1 and 4 beds/1 bath in unit 2, hardwood floors throughout, central air, well maintained HVAC and water tank, tons of living space and a rear pad for parking. This property is also located on a great block with tons of new development and renovations taking place. PROPERTY IS BEING SOLD “AS-IS” Located close to shopping, public transportation and the expressway! Schedule a showing today! This one won’t last long! Read more
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Home Buyers Let’s Beat The Competition
Work with a Broker who specializes in multifamily real estate! The advantage is simple.
Properties are selling fast and at times properties are sold before they even hit the market because sellers prefer a quick sale to avoid any potential headaches with tenants. With years of experience in rehabbing and sales we know what to look for during the 1st showing. Our advice will help you determine if the property is worth pursuing or not.