2544 NORTH BURLING ST BERKSHIRE HATHAWAY HOMESERVICES CHICAGO
LINCOLN PARK | PRIME LOCATION | RARE OPPORTUNITY After 40 years, this exceptional 6-unit Greystone is available on one of the most coveted streets in Lincoln Park. With an impressive 6.39% cap rate and $218,400 in annual gross rents (with upside potential), this fully leased building is a fantastic investment opportunity. Long-term, qualifi ed tenants are in place with annual leases, and historically, the building has stayed fully occupied. Perfect for an owner-occupant or as an armchair investment, the property off ers a stunning top-fl oor 4-bedroom, 2-bath unit with soaring ceilings and an abundance of natural light. The building also features one 2-bedroom unit, three 1-bedroom units, and a spacious 3-bedroom, 2.5-bath lower-level unit. Enjoy multiple outdoor spaces, central heating and air (with the exception of one unit), and in-unit laundry in the larger units, with common laundry for the others. Additional storage is available within the building, and there's a 2-car garage with a rooftop deck in the rear. Located in one of Chicago's fi nest neighborhoods, this property is just a short walk to Lake Michigan, the Fullerton public transportation stop, top-tier restaurants, shopping, and vibrant nightlife. With R4 zoning, this building is in excellent condition and is sold "as-is." Excellent investment opportunity.
FLOOR PLANS Plans, materials and specifications are based on availability and subject to change without notice. Architectural, structural, mechanical, electrical and other assemblies may be revised, as deemed necessary by the developer, architect or as may be required by law. Floor plans are approximate and are for marketing purposes only. All information provided herein deemed reliable.
FLOOR PLANS Plans, materials and specifications are based on availability and subject to change without notice. Architectural, structural, mechanical, electrical and other assemblies may be revised, as deemed necessary by the developer, architect or as may be required by law. Floor plans are approximate and are for marketing purposes only. All information provided herein deemed reliable.
LISTING SPECIFICATIONS CAP RATE: 6.39% RT-4 ZONING 2023 TAXES: $34,667 PIN: 14283110410000 LOT SIZE: 2,754 SQUARE FEET BUILDING SIZE: 5,529 SQUARE FEET Plans, materials and specifications are based on availability and subject to change without notice. Architectural, structural, mechanical, electrical and other assemblies may be revised, as deemed necessary by the developer, architect or as may be required by law. Floor plans are approximate and are for marketing purposes only. All information provided herein deemed reliable. FLOOR PLANS
INCOME & EXPENSES CURRENT RENT ROLL APARTMENT BEDROOMS RENT AMOUNT START ENDING 2544-G 4 $3,300 2/1/2025 4/30/2026 2544-1F 1 $1,785 6/1/2024 5/31/2025 2544-1R 2 $2,695 7/1/2024 6/30/2025 2544-2F 1 $2,095 6/1/2024 5/31/2025 2544-2R 1 $2,225 5/1/2025 8/31/2025 2544-3 4 $5,875 7/1/2024 6/30/2025 GARAGE SPACE 1 - $225 MTM MTM GARAGE SPACE 2 - $0 Plans, materials and specifications are based on availability and subject to change without notice. Architectural, structural, mechanical, electrical and other assemblies may be revised, as deemed necessary by the developer, architect or as may be required by law. Floor plans are approximate and are for marketing purposes only. All information provided herein deemed reliable. GROSS RENTAL INCOME: $218,400 GROSS RENTAL MULTIPLIER: 12 TOTAL ANNUAL EXPS: $61,734 ANNUAL NET OPERATING INCOME: $165,674 JANITOR EXPENSE ($/SRC): $2,500/BROKER PROJECTION WATER EXPENSE ($/SRC): $4,709/ACTUAL REPAIRS/DECOR EXPENSE ($/SRC): $5,000/BROKER PROJECTION TOTAL MONTHLY INCOME: $18,200 TAX AMOUNT: $34,667 EXPENSE SOURCE: ACTUAL NET OPER INCOME YEAR: 2024 FUEL EXPENSE ($/SRC): $1,838/ACTUAL TRASH EXPENSE ($/SRC): $2,610/ACTUAL MANAGER EXPENSE ($/SRC): -- TOTAL ANNUAL INCOME: $218,625 TAX YEAR: 2023 EXPENSE YEAR: 2023 CAP RATE: 6.39 ELECTRICITY EXPENSE ($/SRC): $2,460/ACTUAL INSURANCE EXPENSE ($/SRC): $6,750/BROKER PROJECTION OTHER EXPENSE ($/SRC): $1,200/BROKER PROJECTION
COFFEE SHOPS Bourgeois Pig 738 W Fullerton Ave, Chicago, IL 60614, 0.21 mi. Colectivo Coffee Roasters 2530 N Clark St, Chicago, IL 60614, 0.29 mi. Cafe Deko Chicago, IL 60614, 0.31 mi. Starbucks 2754 N Clark St, Chicago, IL 60614, 0.33 mi. Stan's Donuts & Coffee 2800 N Clark St, Chicago, IL 60657, 0.34 mi. Ludlow Charlington's 2452 N Clark St, Chicago, IL 60614, 0.42 mi. Bae Coffee 2945 N Broadway St, Chicago, IL 60657, 0.57 mi. Olor Coffee Bar 1013 W Webster Ave, Chicago, IL 60614, 0.58 mi. GROCERY STORES The Fresh Market 2730 N Halsted St, Chicago, IL 60614, 0.28 mi. Trader Joe's 667 W Diversey Pkwy, Chicago, IL 60614, 0.3 mi. RESTAURANTS Parson’s Chicken & Fish 2435 N Halsted St, Chicago, IL 60614, 0.15 mi. Galit 2429 N Lincoln Ave, Chicago, IL 60614, 0.19 mi. The Wiener's Circle 2622 N Clark St, Chicago, IL 60614, 0.26 mi. Prost 2566 N Lincoln Ave, Chicago, IL 60614, 0.26 mi. Lou Malnati's Pizzeria 958 W Wrightwood Ave, Chicago, IL 60614, 0.28 mi. Del Seoul 2568 N Clark St, Chicago, IL 60614, 0.28 mi. Briny Swine Smokehouse and Oyster Bar 2577 N Clark St, Chicago, IL 60614, 0.29 mi. Happy Lamb Hot Pot Chicago, IL 60614, 0.3 mi. Velvet Taco 2309 N Lincoln Ave, Chicago, IL 60614, 0.32 mi. GyuKaku Japanese BBQ 2813 N Broadway St, Chicago, IL 60657, 0.38 mi. Potbelly Sandwich Shop 959 W Diversey Pkwy, Chicago, IL 60614, 0.38 mi. Pat's Pizzeria & Ristorante 2679 N Lincoln Ave, Chicago, IL 60614, 0.44 mi. The Gundis Kurdish Kitchen 2909-11 N Clark St, Chicago, IL 60657, 0.46 mi. Mfk 432 W Diversey Pkwy, Chicago, IL 60614, 0.49 mi. Cafecito 411 W Fullerton Pkwy, Chicago, IL 60614, 0.49 mi. AREA AMENITIES
SHAWN JONES THE JONES GROUP | TEAM LEAD BROKER 708-785-2523 | [email protected] For additional property information, please visit: ShawnJones.BHHSChicago.com This information has been obtained from sources believed to be reliable. We have not verifi ed it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. ©2024 BHH Affi liates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affi liate, and a franchisee of BHH Affi liates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affi liate. Equal Housing Opportunity.