1512 W Melrose St., Chicago, IL 60657

LAKEVIEW 3 UNIT PROPERTY - 2 FLAT IN FRONT AND COACH HOUSE IN BACK. 1 EXTERIOR PARKING SPOT INCLUDED BEHIND COACH HOUSE. BURLEY SCHOOL DISTRICT RENTS ARE VERY LOW - LONG TERM TENANTS & OWNER. GROSS MONTHLY RENTS SHOULD BE $6700+ WITH A 6.5%+ CAP RATE. CURRENT CAP RATE = 5.6% BASED ON DUPLEX RENTING FOR $2800. 1ST FLOOR = 2 BED 1 BATH SIMPLEX UNIT - RENTED FOR $1100. LEASE EXPIRES 8-31-21. 2ND FLOOR - 3 BED 2 BATH DUPLUS UP THAT IS VACANT - LEAVING IT VACANT IN THE EVENT SOMEONE WANTS TO MOVE IN. THIS SHOULD RENT FOR $2800. FREE LAUNDRY IN THE BASEMENT FOR THESE 2 FRONT UNITS. COACH HOUSE IS A STAND ALONE 2 BED 2 BATH UNIT WITH LAUNDRY IN THE UNIT AND 1 PARKING SPACE INCLUDED IN RENT. THIS CURRENTLY RENTS FOR $2200 AND THE LEASE EXPIRES 8-31-21. PERFECT OPPORTUNITY FOR SOMEONE TO LIVE IN ONE OF THE DUPLEX UNITS AND COLLECT RENT TO PAY THE MORTGAGE!! MAJOR IMPROVEMENTS: New roof on both buildings and all new skylights in 2017 New wood back porch/staircase and new electrical service to 2 flat in 2019 Hardscape patios / stone beds 2011 New porch front building 2003 REAL ESTATE TAXES $16,278 INSURANCE $3,584 WATER/SEWER/TRASH $4,108.76 COMMON ELECTRIC $132.59 TENANTS PAY THEIR OWN HEAT AND ELECTRIC.