Chicago, IL 60660 1 3 0 0 W. H o o d Ave.

1300 W. Hood Ave.Chicago, IL 6066012-Unit Multi-Family Property in Edgewater Glen

DisclaimerSTATE OF ILLINOIS DUAL AGENCY DISCLOSURE The State of Illinois has enacted regulations relative to disclosure of representation. In all transactionsrelative to the Property, Essex Realty Group, Inc. is representing the Owner. However, in any situationwhere there is not a cooperating broker representing the purchaser, Essex Realty Group, Inc. is deemedto also be representing the purchaser. Representing more than one party to a transaction presents aconflict of interest since both clients may rely upon the Licensee’s/Agent’s advice and the client’srespective interest may be adverse to each other. Licensee/Agent will undertake this representation onlywith the written consent of ALL clients in the transaction. Any agreement between the clients as to afinal contract price and other terms is a result of negotiations between the clients acting in their ownbest interest and on their own behalf. Seller hereby acknowledges that Licensee/Agent has explained theimplications of dual representation, including the risks involved, and understand that you have beenadvised to seek independent advice from your advisors or attorneys before signing any documents inthis transaction.

WHAT A LICENSEE / AGENT CAN DO FOR CLIENTS WHEN ACTING AS A DUAL AGENT: 1) Treat all clients honestly; 2) Provide information about the Property to the Buyer; 3) Disclose all latentmaterial defects in the Property that are known to Licensee/Agent; 4) Disclose financial qualification ofthe Buyer to the Seller; 5) Explain real estate terms; 6) Help the Buyer to arrange for Propertyinspections; 7) Explain closing costs and procedures; 8) Help the Buyer compare financing alternatives;9) Provide information about comparable properties that have sold, so both clients may make educateddecisions on what price to accept or offer.

WHAT A LICENSEE / AGENT CANNOT DISCLOSE TO CLIENTS WHEN ACTING AS A DUAL AGENT: 1) Confidential information that Licensee/Agent may know about the clients, without that client’spermission. 2) The price the Seller will take other than the listing price without the permission of theSeller;3) The price the Buyer is willing to pay without the permission of the Buyer; 4) A recommended orsuggested price the Buyer should offer; 5) A recommended or suggested price the Seller should counterwith or accept. If either client is uncomfortable with this disclosure and dual representation, please letthe Licensee/Agent know. You are not required to sign this document unless you want to allow theLicensee to proceed as a Dual Agent in this transaction. By initialing below, you acknowledge that youhave read and understand this form and voluntarily consent to the Licensee/Agent acting as Dual Agent,should that become necessary.

NEITHER SELLER NOR AGENT IS MAKING AND HAS NOT, AT ANY TIME, MADE ANY WARRANTIES ORREPRESENTATIONS OF ANY KIND OR CHARACTER, EXPRESSED OR IMPLIED WITH RESPECT TO THEPROPERTY. CONTEMPORANEOUS OFFERS

Agent and Designated Agent obtain contemporaneous offers from two or more clients. Clients of theDesignated Agent may request to be referred to a different Essex Designated Agent.

This Offering memorandum is not intended to provide a necessarily accurate summary of the Propertyor any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of theinformation which prospective purchasers may need or desire.

All financial projections are based upon assumptions relating to the general economy, competition, andother factors beyond the control of the Owner and the Agent and therefore may be subject to materialand adverse variations. The Offering Memorandum does not constitute an indication that there has beenno change in the business or affairs of the Property since the date of preparation of the OfferingMemorandum. An opportunity to inspect the Property will be made available to interested and qualifiedprospective purchasers. Neither the Owner nor the Agent nor any of their respective officers, agents orprincipals has made or will mak e any representations or warranties, expressed or implied, as to theaccuracy or completeness of the Offering Memorandum or any other oral or written information providedby any of them, and no legal commitment or obligation shall arise by reason of the OfferingMemorandum or such other information. Analysis and verification of the information contained in theOffering Memorandum is solely the responsibility of the prospective purchaser.

This information has been secured from sources we believe to be reliable, but we make norepresentations nor warranties, express nor implied as to the accuracy of the information. References tosquare footage are approximate. Buyer must verify the information and bears all risks for anyinaccuracies.

LEAD WARNING STATEMENT Every purchaser of any interest in residential real property on which a residential dwelling was built priorto 1978 is notified that such property may present exposure to lead from lead-based paint that may placeyoung children at risk of developing lead poisoning. Lead poisoning in young children may producepermanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioralproblems, and impaired memory. Lead poisoning also poses a particular risk t o pregnant women. Theseller of any interest in residential real property may be required to provide the buyer with anyinformation on lead-based paint hazards from risk assessments or inspections in the seller ’s possessionand notify the buyer of any known lead-based paint hazards. A risk assessment or inspection for possiblelead-based paint hazards is recommended prior to purchase.

HAZARDOUS MATERIALS DISCLOSURE Various construction material may contain items that have been or may in the future be determined to behazardous (toxic) or undesirable and as such may need to be specifically treated, handled or removed.For example, some transformers and other electrical components contain PCB’s, and asbestos has beenused in components such as fire-proofing, heating and cooling systems, air duct insulation, spray-on andtile acoustical materials, linoleum, floor tiles, roofing, dry wall and plaster. Due to prior or current uses ofthe Property or the area, there may be hazardous or undesirable metals, minerals, chemicals,hydrocarbons or biological or radioactive items (including electric and magnetic fields) in soils, water,building components, above or below ground containers or elsewhere in areas that may or may not beaccessible or noticeable. Such items may leak or otherwise be released. Real estate agents have noexpertise in the detection or correction of hazardous or undesirable items. Expert inspections arenecessary. Current or future laws may require clean up by past, present and/or future owners and/oroperators. It is the responsibility of the Buyer to retain qualified experts to detect and correct suchmatters and to consult with legal counsel of their choice to determine what provisions, if any, they maywish to include in transaction documents regarding the Property.

AMERICANS WITH DISABILITIES ACT The United States Congress has recently enacted the Americans with Disabilities Act. Among otherthings, this act is intended to make many business establishments equally accessible to persons with avariety of disabilities. As such, modifications to real property may be required. Federal, state and locallaws, codes and regulations also may mandate changes. The real estate brokers in this transaction are notqualified to advise you as to what, if any, changes may be required now, or in the future. Owners andtenants should consult their attorneys and qualified design professionals of their choice for informationregarding these matters. Real estate brokers cannot determine which attorneys or design professionalshave the appropriate expertise in this area.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express nor implied as to the accuracy of the information. References to square footage are approximate. Buyer myst verifythe information and bears all risks for any inaccuracies.

1 PROPERTY INFORMATION 5

2 LOCATION INFORMATION 13

3 FINANCIAL ANALYSIS 18

4 SALE COMPARABLES 26

5 RENT COMPARABLES 31

6 APPENDIX 41

Table of Contents

PropertyInformation

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express nor implied as tothe accuracy of the information. References to square footage are approximate. Buyer myst verify the information and bears all risks for anyinaccuracies.

Essex Realty Group, Inc. has been exclusively engaged to market for sale 1300 W.Hood Ave., a 12-unit corner apartment building located in the highly sought afterEdgewater Glen neighborhood of Chicago. The subject property consists of three(3) 1 Bd/1 Ba units, six (6) 2 Bd/1 Ba units and three (3) 3 Bd/1 Ba units situated ona double-wide, corner lot with two (2) surface parking spaces. The property hasbeen under the same ownership for 20+ years, providing investors with theopportunity to acquire a rarely available asset, in an excellent location, withsignificant upside.

The property has been meticulously maintained and has had extensive capitalimprovements over the years that include a new boiler, electrical system, roof,parapet walls, windows, lintels and installation of in-unit laundry in eleven of twelveapartments (see Building Fact Sheet on pg.8 for more detail). Additionally, 1300 W.Hood Ave. presents owners with numerous investment strategies. A new owner canincrease the rents as-is and increase rents over time. For example, nearbycomparable units are renting approximately 10-20% higher than the subjectproperty. Alternatively, investors may elect to update the units with modern finishesto achieve market rates of approximately 20-30% higher than rents at the subjectproperty. Lastly, Investors may also seek to take advantage of Chicago’s new ADUPilot Program by adding additional apartment units in the basements.

Situated just steps from the Granville CTA Red Line Station, the subject property issituated in a prime location and is steps from an abundance of restaurant and retailoptions along Granville Avenue and Broadway. The location also provides access todesirable Edgewater parks, beach fronts and Loyola University's Lake ShoreCampus. In the last several years, the neighborhood has benefited from significantinvestment and seen an influx of new developments.

PRICE: $2,975,000

NUMBER OF UNITS: 12

PROPERTY TYPE: Multi-Family

NEIGHBORHOOD: Edgewater Glen

LOT DIMENSIONS: Approx. 60' X 125'

Executive Summary

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express nor implied as tothe accuracy of the information. References to square footage are approximate. Buyer myst verify the information and bears all risks for anyinaccuracies.

ADDING ADU OR ADDITIONAL AMENITIES

The property features an extremely spacious basement boasting high ceilings andlarge windows. Given these favorable features, a new owner has the opportunity topossibly add additional units per the City of Chicago's recently improved ADU PilotProgram. Starting May 1st, 2021, the City's new ADU Pilot Program may allow aninvestor to potentially add between one to four apartments in designated areasacross Chicago including Edgewater. Please consult a zoning attorney and theChicago Department of Housing and Buildings for more information on the nuancesof this program. Additional information may be found in the "ADU Background andAdditional Resources" report available on the Essex property website.

Furthermore, an investor may add resident amenities in the basement space, similarto the example photos to the right. For a modest cost, this would create acompetitive advantage over many of the competing neighborhood properties.

UPDATING KITCHENS AND BATHROOMS

One of the most compelling features of this investment is that so many large capitalexpense projects, that don't typically affect rents, have already been completed sothat a new investor can focus their capital improvements on items such as kitchensand bathrooms that drive rents most effectively.

While there is already significant upside to increase apartment rents in their "As-Is"condition, a new owner may realize further upside in the property's income byrenovating the kitchens and bathrooms with modern apartment finishes. In the "As-Is" condition, an investor may realize approximately 10-20% increases and as high as20-30% after modern cosmetic improvements.

ADDING BEDROOMS

6 of the 12 apartments feature spacious floorplans and separate dining rooms thatmay easily be converted into additional bedrooms.

Value-Add Opportunities


PROPERTY DETAILS

PROPERTY ADDRESS 1300 W. Hood Ave. Chicago, IL 60660

PIN NUMBER 14-05-118-026-0000

NUMBER OF UNITS 12

PARKING SPACES Two (2) Surface Spaces

LOT SIZE 7,500 SF (60' X 125') per City ZoningWebsite

MECHANICALS

HEATING New Boiler (2007)

ELECTRIC New Electrical System (2009)

HOT WATER John Wood Shared Tank

PLUMBING Galvanized

WINDOWS/LINTELS Vinyl Windows (1990) / LintelReplacement (2017)

ROOF New Roof & Gutters (2011); RebuiltParapet Wall (2010)

LAUNDRYIn-Unit Laundry in 11 of 12 Units (2018);

Two (2) Washers & Two (2) DryersCoin-Operated in Basement

PORCHES Wooden (Code Compliant in 2010)

PRIVATE STORAGE ROOMS 1:1

Building Fact Sheet

LocationInformation

Aerial Map

1300 W. Hood Ave.

Regional Map

Beard & Belly

Indie + Summer Cafe

Alexander’s Restaurant

Awash Ethiopian Restaurant

Cozy Corner Restaurant

Little Corner Restaurant

Cellars Bar and Grill

Ras Dashen

Rice Thai Asian Kitchen

Uncommon Ground

Ann Sathers

Flaco’s Tacos

Pete’s Pizza & Bakehouse

The Thai Grill & Noodle Bar

Aunty Joy’s Jamaican Kitchen

Pressure Billiards & Cafe

Hello Sushi

Dak

Gino’s North

YATAI Asian Street Food

Lickity Split Frozen Custard

Metropolis Coffee Company

Whole Foods Market

ALDI

Target Grocery

Granville CTA Red Line

Loyola University Chicago

Berger Park

CVS

Senn Playlot Park

LA Fitness

Granville Avenue Beach

Devon Avenue Beach

Kindred Chicago Lakeshore

Thorndale CTA Red Line

Broadway Armory

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Location OverviewNEIGHBORHOOD DESCRIPTION

The subject property is located within the Edgewater Glen pocket of the Edgewater neighborhood on the Noth-Side of Chicago. Thelakefront neighborhood of Edgewater is located approximately seven miles north of the Loop and is bounded by the Rogers Parkcommunity to the north, Uptown to the south, Lincoln Square to the west, and Lake Michigan to the east. Edgewater is home to severalbeaches and waterfront parks and the vibrant Bryn Mawr Historic District. Additionally, Loyola University’s Lake Shore Campus is locatedon the north boundary of Edgewater Glen and is home to over 16,000 students and 1,000 faculty members. Eighteen of Loyola University’snineteen residence hall buildings are located in the Edgewater and Rogers Park neighborhoods, prompting establishedretailers and eateries to open convenient locations along the campus’ perimeter.

1300 W. Hood Ave. is steps from many retail and restaurant options along Broadway. Additionally, residents are within walking distance tothe Granville CTA Red Line, Whole Foods Market and Loyola University's Lake Shore Campus.

FinancialAnalysis


UNIT TYPE UNIT COUNT APPROX. AVG. SF CURRENTAVG. RENT

CURRENTMONTHLY

INCOME

CURRENTANNUALINCOME

MARKETAVG.

RENT

STABILIZEDMONTHLY

INCOME

STABILIZEDANNUALINCOME

1 Bd/1 Ba 3 868 $1,225 $3,675 $44,00 $1,375 $4,125 $49,500

2 Bd/1 Ba 6 832 $1,540 $9,240 $110,880 $1,695 $10,170 $122,040

3 Bd/1 Ba 3 1,278 $1,825 $5,475 $65,700 $2,155 $6,465 $77,580

TOTALS/AVERAGES 12 11,430 $1,533 $18,390 $220,680 $1,730 $20,760 $249,120

# UNIT TYPE * UNIT NUMBER MONTHLY RENT LEASE START LEASE EXPIRATION

1 3 Bd/1 Ba 1300-1 $1,825 3/1/2020 2/28/2021

2 3 Bd/1 Ba 1300-2 $1,825 6/9/2012 4/30/2021

3 3 Bd/1 Ba 1300-3 $1,825 10/1/2014 5/31/2021

4 1 Bd/1 Ba 1304-1 $1,225 3/1/1988 5/31/2021

5 1 Bd/1 Ba 1304-2 $1,275 8/1/2012 6/30/2021

6 1 Bd/1 Ba 1304-3 $1,175 10/1/2011 3/31/2021

7 2 Bd/1 Ba 6140-1 $1,550 7/20/2016 7/31/2021

8 2 Bd/1 Ba 6140-2 $1,545 1/31/2019 8/31/2020

9 2 Bd/1 Ba 6140-3 $1,495 3/15/2020 3/31/2021

10 2 Bd/1 Ba 6144-1 $1,550 7/1/2015 5/31/2021

11 2 Bd/1 Ba 6144-2 $1,550 7/1/2017 6/30/2021

12 2 Bd/1 Ba 6144-3 $1,550 3/1/2019 5/31/2021

TOTALS/AVERAGES $18,390

* Unit 1300-2 is receiving a $65 per month Covid-19 adjustment for the months of Sept. and Oct., 2020.* Unit 6140-2 is receiving a $500 per month Covid-19 adjustment for 8 months starting September 1st, 2020.

Rent Analysis & Rent Roll


INCOME SUMMARY CURRENT % OF SGI PER UNIT STABILIZED % OF SGI PER UNIT

Rental Income $220,680 98.9% $18,390 $249,120 98.3% $20,760

Laundry Income $200 0.1% $16 $200 0.1% $16

Parking Income ¹ $1,440 0.6% $120 $2,400 0.9% $200

Misc. Income ¹ $764 0.3% $63 $1,800 0.7% $150

GROSS INCOME $223,084 100% $18,590 $253,520 100% $21,126

Market Vacancy -$11,154 - 5.0% -$929 -$12,676 - 5.0% -$1,056

COLLECTED INCOME $211,929 95.0% $17,660 $240,844 95.0% $20,070

EXPENSE SUMMARY CURRENT % OF SGI PER UNIT STABILIZED % OF SGI PER UNIT

Real Estate Taxes ² $19,208 8.6% $1,600 $30,422 12.0% $2,535

Insurance ¹ $6,017 2.7% $501 $4,800 1.9% $400

Gas $7,261 3.3% $605 $7,261 2.9% $605

Electric $1,285 0.6% $107 $1,285 0.5% $107

Water & Sewer $4,812 2.2% $401 $4,812 1.9% $401

Scavenger ³ $2,070 0.9% $172 $2,070 0.8% $172

Management ⁴ $8,923 4.0% $743 $10,141 4.0% $845

Janitorial ⁴ $4,800 2.2% $400 $4,800 1.9% $400

Maintenance/Decorating ⁴ $5,400 2.4% $450 $5,400 2.1% $450

Misc. & Reserves ⁴ $5,400 2.4% $450 $5,400 2.1% $450

GROSS EXPENSES $65,176 29.2% $5,431 $76,391 30.1% $6,365

NET OPERATING INCOME $146,753 65.8% $12,229 $164,453 64.9% $13,704

¹ Current is actual; Stabilized is Broker Pro-Forma. ² Real Estate Taxes per Cook County Treasurer; Stabilized is Broker Pro-Forma.³ Scavenger has been renegotiated effective November 1st, 2020 to $172.50 per month.⁴ Broker Pro-Forma.

Market Operating Statement - As-Is


UNIT TYPE UNIT COUNT APPROX.AVG. SF

CURRENTAVG. RENT

CURRENTMONTHLY

INCOME

CURRENTANNUALINCOME

REHABBEDAVG. RENT

REHABBEDMONTHLY INCOME

REHABBEDANNUAL INCOME

1 Bd/1 Ba 3 868 $1,225 $3,675 $44,100 $1,650 $4,950 $59,400

2 Bd/1 Ba 6 832 $1,540 $9,240 $110,880 $1,950 $11,700 $140,400

3 Bd/1 Ba 3 1,278 $1,825 $5,475 $65,700 $2,250 $6,750 $81,000

TOTALS/AVERAGES 12 11,430 $1,533 $18,390 $220,680 $1,950 $23,400 $280,800

Rehabbed Unit Mix


INCOME SUMMARY CURRENT % OF SGI PER UNIT REHABBED % OF SGI PER UNIT

Rental Income $220,680 98.9% $18,390 $280,800 98.5% $23,400

Laundry Income $200 0.1% $16 $200 0.1% $16

Parking Income ¹ $1,440 0.6% $120 $2,400 0.8% $200

Misc. Income ¹ $764 0.3% $63 $1,800 0.6% $150

GROSS INCOME $223,084 100% $18,590 $285,200 100% $23,766

Market Vacancy -$11,154 - 5.0% -$929 -$14,260 - 5.0% -$1,188


EXPENSE SUMMARY CURRENT % OF SGI PER UNIT REHABBED % OF SGI PER UNIT


Insurance ¹ $6,017 2.7% $501 $4,800 1.7% $400

Gas $7,261 3.3% $605 $7,261 2.5% $605

Electric $1,285 0.6% $107 $1,285 0.5% $107

Water & Sewer $4,812 2.2% $401 $4,812 1.7% $401

Scavenger ³ $2,070 0.9% $172 $2,070 0.7% $172

Management ⁴ $8,923 4.0% $743 $11,408 4.0% $950

Janitorial ⁴ $4,800 2.2% $400 $4,800 1.7% $400


Misc. & Reserves ⁴ $5,400 2.4% $450 $5,400 1.9% $450

GROSS EXPENSES $65,176 29.2% $5,431 $81,460 28.6% $6,788



Rehabbed Operating Statement

1 Bd/1 Ba 3 $1,225 $3,675 $44,100 1 Bd/1 Ba 3 $1,650 $4,950 $59,400

2 Bd/1 Ba 6 $1,540 $9,240 $110,880 2 Bd/1 Ba 6 $1,950 $11,700 $140,400

3 Bd/1 Ba 3 $1,825 $5,475 $65,700 3 Bd/1 Ba 3 $2,250 $6,750 $81,000

- - - - - 1 Bd/1 Ba - ADU 1 $956 $956 $11,472

- - - - - 3 Bd/1 Ba - ADU 1 $1,800 $1,800 $21,600


Rehabbed Unit Mix - ADU


INCOME SUMMARY CURRENT % OF SGI PER UNIT REHABBED % OF SGI PER UNIT

Rental Income $220,680 98.9% $18,390 $313,872 98.7% $26,156

Laundry Income $200 0.1% $16 $0 0.0% $0

Parking Income ¹ $1,440 0.6% $120 $2,400 0.8% $200

Misc. Income ¹ $764 0.3% $63 $1,800 0.6% $150

GROSS INCOME $223,084 100% $18,590 $318,072 100% $26,506

Market Vacancy -$11,154 - 5.0% -$929 -$15,903 - 5.0% -$1,325


EXPENSE SUMMARY CURRENT % OF SGI PER UNIT REHABBED % OF SGI PER UNIT


Insurance ¹ $6,017 2.7% $501 $4,800 1.5% $400

Gas $7,261 3.3% $605 $7,261 2.3% $605

Electric $1,285 0.6% $107 $1,285 0.4% $107

Water & Sewer $4,812 2.2% $401 $4,812 1.5% $401

Scavenger ³ $2,070 0.9% $172 $2,070 0.7% $172

Management ⁴ $8,923 4.0% $743 $12,723 4.0% $1,060

Janitorial ⁴ $4,800 2.2% $400 $4,800 1.5% $400


Misc. & Reserves ⁴ $5,400 2.4% $450 $5,400 1.7% $450

GROSS EXPENSES $65,176 29.2% $5,431 $86,720 27.3% $7,226



Rehabbed Operating Statement - ADU


INVESTMENT OVERVIEW CURRENT STABILIZED AS-IS REHABBED ADU

Price $2,975,000 $2,975,000 $2,975,000 $2,975,000

Rehab Budget - - $300,000 $450,000

Total Project Cost $2,975,000 $2,975,000 $3,275,000 $3,425,000

Total Project Cost Per Unit $247,916 $247,916 $272,916 $244,643

GRM 13.34 11.73 11.48 10.77

CAP Rate 4.93% 5.53% 5.79% 6.29%

Cash-on-Cash Return (YR 1) 3.06% 5.44% 6.47% 8.49%

Total Return (YR 1) 8.6% 11.0% 12.0% 14.0%

Debt Coverage Ratio 1.18 1.33 1.39 1.51

OPERATING DATA CURRENT STABILIZED AS-IS REHABBED ADU

Total Scheduled Income $223,084 $253,520 $285,200 $318,072

Vacancy Cost $11,154 $12,676 $14,260 $15,903

Collected Income $211,929 $240,844 $270,940 $302,168

Operating Expenses $65,176 $76,391 $81,460 $86,720

Net Operating Income $146,753 $164,453 $189,480 $215,448

FINANCING DATA CURRENT STABILIZED AS-IS REHABBED ADU

Down Payment 25% $743,750 25% $743,750 25% $818,750 25% $856,250

Loan Amount 75% $2,231,250 75% $2,231,250 75% $2,456,250 75% $2,568,750

Debt Service 3.75%/30 YRS $123,999 3.75%/30 YRS $123,999 3.75%/30 YRS $136,503 3.75%/30 YRS $142,755

Cash Flow $22,754 $40,454 $52,977 $72,693

Principal Reduction (YR 1) $41,027 $41,027 $45,164 $47,233

Total Return (YR 1) $63,782 $81,481 $98,141 $119,926

Financial Summary

SaleComparables


Sold Comps Map

1Chicago, IL 606601336 W. Bryn Mawr Ave. 2

Chicago, IL 606605827-5829 N. Magnolia Ave. 3

Chicago, IL 606605624 N. Clark St.

4Chicago, IL 606605614 N. Wayne Ave. 5

Chicago, IL 606183223 W. Belle Plaine Ave. 6

Chicago, IL 606134072 N. Sheridan Rd.

1300 W. Hood Ave. | Chicago, IL 60660Subject Property


1

1336 W. Bryn Mawr Ave.Chicago IL 60660

Gut-renovated building with high vacancy at time of sale.Units feature hardwood floors, quartz countertops,stainless steel appliances, exposed brick, in-unit laundryand central air conditioning. Capital improvements includenew electrical system, porches and HVAC. Propertyincludes three (3) exterior parking spaces. Pro-Forma CapRate and GRM.

SALE PRICE: $2,350,000

NUMBER OF UNITS: 7

PRICE PER UNIT: $335,714

CLOSED DATE: Sep 29, 2020

GRM: 12.16

CAP RATE: 5.35%

UNIT MIX: (4) 2 Bd/1-2 Ba

(3) 3 Bd/2 Ba

2

5827-5829 N. Magnolia Ave.Chicago IL 60660

Partially rehabbed building features hardwood floors,stainless steel & white appliances, granite & laminatecountertops, in-unit laundry and central air conditioning.Property includes three (3) exterior parking spaces. Pro-Forma Cap Rate and GRM.


NUMBER OF UNITS: 7


CLOSED DATE: Nov 20, 2019

GRM: 11.86

CAP RATE: 5.48%

UNIT MIX: (1) 1 Bd/1 Ba - Gdn

(6) 3 Bd/1 Ba

3

5624 N. Clark St.Chicago IL 60660

Mixed-use building features hardwood floors, granitecountertops, stainless steel appliances, central airconditioning and on-site coin laundry. Street parking only.


NUMBER OF UNITS: 17


CLOSED DATE: Oct 10, 2019

GRM: 10.87

CAP RATE: 5.98%

UNIT MIX: (8) 1 Bd/1 Ba

(5) 2 Bd/1 Ba

(2) 3 Bd/2 Ba

(2) Commercial

Sold Comparables


4

5614 N. Wayne Ave.Chicago IL 60660

Partially rehabbed building features hardwood floors,laminate countertops, stainless steel & white appliances,radiator heat, front balconies, rear decks and on-site coinlaundry. Property includes five (5) garage spaces.


NUMBER OF UNITS: 6


CLOSED DATE: Aug 16, 2019

GRM: 10.91

CAP RATE: 5.5%


(4) 3 Bd/1 Ba

5

3223 W. Belle Plaine Ave.Chicago IL 60618

Rehabbed apartment building with below market rents attime of sale. Units feature hardwood floors, laminatecountertops, stainless steel appliances, in-unit laundry andcentral air conditioning. Street parking only.


NUMBER OF UNITS: 12


CLOSED DATE: Jul 19, 2019

GRM: 14.85

CAP RATE: 4.38%


(3) 2 Bd/2 Ba

6

4072 N. Sheridan Rd.Chicago IL 60613

Condo deconversion. Property features updated units,individual HVAC and shared roof deck. Property includesfourteen (14) exterior parking spaces.


NUMBER OF UNITS: 16


CLOSED DATE: Jul 17, 2019

GRM: 11.92

CAP RATE: 5.7%


Sold Comparables


SALE COMPS PRICE PRICE/UNIT CAP GRM # OF UNITS CLOSE

11336 W. Bryn Mawr Ave. Chicago, IL 60660

$2,350,000 $335,714 5.35% 12.16 7 09/29/2020

25827-5829 N. Magnolia Ave. Chicago, IL 60660

$1,765,000 $252,142 5.48% 11.86 7 11/20/2019

35624 N. Clark St. Chicago, IL 60660

$4,000,000 $235,294 5.98% 10.87 17 10/10/2019

45614 N. Wayne Ave. Chicago, IL 60660

$1,350,000 $225,000 5.50% 10.91 6 08/16/2019

53223 W. Belle Plaine Ave. Chicago, IL 60618

$2,490,000 $207,500 4.38% 14.85 12 07/19/2019

64072 N. Sheridan Rd. Chicago, IL 60613

$4,600,000 $287,500 5.70% 11.92 16 07/17/2019

TOTALS/AVERAGES $2,759,167 $254,770 5.4% 12.10 10.83

Sold Comps Summary

RentComparables


Rehabbed Rent Comps Map

1Chicago, IL 606601250 W. Rosedale Ave. 2

Chicago, IL 606606125 N. Clark St. 3

Chicago, IL 606601221 W. Granville Ave.

4Chicago, IL 606601528 W. Elmdale Ave. 5

Chicago, IL 606601058 W. Glenlake Ave. 6

Chicago, IL 606606315 N. Lakewood Ave.

7Chicago, IL 606266457 N. Magnolia Ave.



1

1250 W. Rosedale Ave.Chicago IL 60660

Rehabbed unit features hardwood floors, granite countertops, stainless steelappliances, dishwasher, built-in microwave, separate dining room, in-unitlaundry, central air conditioning and sunroom. Street parking only.

UNIT TYPE APPROX. SF MONTHLY RENT RENT/SF

1 Bd/1 Ba 850 $1,650 $1.94

Landlord Paid Utilities:None; all tenant paid utilities

2

6125 N. Clark St.Chicago IL 60660

Rehabbed unit features hardwood floors, granite countertops, stainless steelappliances, dishwasher, in-unit laundry and central air conditioning. Two (2)exterior spaces for an additional cost.


1 Bd/1 Ba 720 $1,555 $2.16

2 Bd/1 Ba 815 $1,850 $2.27

Landlord Paid Utilities:None; all tenant paid utilities

Rehabbed Rent Comparables


3

1221 W. Granville Ave.Chicago IL 60660

Rehabbed unit features hardwood floors, granite countertops, stainless steelappliances, dishwasher, built-in microwave, open floor plan, in-unit laundryand radiator heat. Street parking only.


2 Bd/1 Ba 1,200 $2,000 $1.67

Landlord Paid Utilities:Landlord paid heat

4

1528 W. Elmdale Ave.Chicago IL 60660

Rehabbed unit features hardwood floors, granite countertops, stainless steelappliances, dishwasher, built-in microwave, gas fireplace, in-unit laundry andradiator heat. One (1) garage space for an additional cost.


2 Bd/1 Ba 1,250 $1,900 $1.52




5

1058 W. Glenlake Ave.Chicago IL 60660

Rehabbed unit features hardwood floors, stainless steel appliances, quartzcountertops, dishwasher, built-in microwave, exposed brick and radiatorheat. Building amenities include on-site coin laundry and fitness room. One(1) exterior parking space for an additional cost.


3 Bd/1 Ba 1,100 $2,500 $2.27


6

6315 N. Lakewood Ave.Chicago IL 60660

Rehabbed unit features hardwood floors, stainless steel appliances, laminatecountertops, built-in microwave, radiator heat and enclosed porch. Buildingamenities include on-site coin laundry and shared patio. One (1) garageparking space included in rent.


3 Bd/1 Ba 1,500 $2,350 $1.57




7

6457 N. Magnolia Ave.Chicago IL 60626

Rehabbed unit features hardwood floors, stainless steel appliances, granitecountertops, dishwasher, radiator heat and sunroom. Building amenitiesinclude on-site coin laundry. One (1) garage parking space for an additionalcost.


3 Bd/1 Ba 1,500 $2,200 $1.47




As-Is Rent Comps Map

1Chicago, IL 606601436 W. Thome Ave. 2

Chicago, IL 606606012 N. Kenmore Ave. 3

Chicago, IL 606601311 W. Thorndale Ave.

4Chicago, IL 606601310 W. Thorndale Ave. 5

Chicago, IL 606601321 W. Thorndale Ave.



1

1436 W. Thome Ave.Chicago IL 60660

Unit features hardwood and tile floors, laminate countertops, stainless steel& appliances, dishwasher, window a/c and radiator heat. Building amenitiesinclude on-site laundry and bike storage. Street parking only.


1 Bd/1 Ba 750 $1,400 $1.87

2 Bd/1 Ba 900 $1,595 $1.77


2

6012 N. Kenmore Ave.Chicago IL 60660

Unit features hardwood floors, granite countertops, white appliances andbaseboard heat. Building amenities include elevator and on-site coin laundry.One (1) exterior parking space for an additional cost.


1 Bd/1 Ba 675 $1,375 $2.04

Landlord Paid Utilities:Landlord Paid Heat

As-Is Rent Comparables


3

1311 W. Thorndale Ave.Chicago IL 60660

Unit features hardwood floors, laminate countertops, white appliances,radiator heat and private balcony. Building amenities include on-site laundry.One (1) garage space included in rent.


2 Bd/1 Ba 1,000 $1,600 $1.60


4


Unit features hardwood floors, laminate countertops, white appliances andradiator heat. Building amenities include on-site laundry. Street parking only.


3 Bd/1 Ba 1,400 $2,000 $1.43




5


Unit features hardwood floors, white appliances, laminate countertops,dishwasher, built-in microwave, window A/C and radiator heat. Buildingamenities includes on-site coin laundry. Garage parking available foradditional rent.


3 Bd/1 Ba 1,550 $1,900 $1.23



Appendix


Property Taxes


Floor Plans

Chicago, IL 60660 1 3 0 0 W. H o o d Ave.

Documents

Transcript of Chicago, IL 60660 1 3 0 0 W. H o o d Ave.