WICKER PARK OFFERING

3,458 SQUARE FOOT 4-UNIT APARTMENT BUILDING

1544 W Wabansia AveCHICAGO, IL

PRICING AND FINANCIAL ANALYSIS

PROPERTY OVERVIEW: 1544 W Wabansia was built in 1890 and is a multi-family home that contains 3,458 SF of beautiful living space plus a

spacious backyard. The unit in its entirety contains 12 bedrooms and 7 bathrooms. This is split out into one 4 bed/2 bath,

two 3 bed/2 bath, and one 2 bed/1 bath. The interior underwent a complete gut rehab with plenty of CapEx improvements

to the building and structure. The units are separately metered and boast brand new finished such as hardwood flooring,

new cabinets, granite countertops, and stainless steel appliances. It is right off of North Ave on the border of Bucktown and

Wicker Park, which has quickly become one of the hottest and most desirable neighborhoods to reside in.

One of Chicago's creative epicenters lies just outside downtown Chicago in Wicker Park and Bucktown. These

synonymous neighborhoods are famous for live music and nightlife, chef-driven restaurants and countless art galleries —

many housed within the Flat Iron Arts Building. If you have an acute knowledge of craft cocktails or an affinity for coffee,

plus want to sift through records or thrifted threads, there's no better area to sip and shop in the country.

Along North, Division, Milwaukee and Damen Avenues, you will find an unbelievable blend of vintage shops amid

independently-owned boutiques touting fashions for both men and women, and luxury home goods and beauty products.

On the same blocks are nationally-recognized names in fashion, and a mix of major retail chains that have also set up shop

to satisfy the on-trend crowds.

The present day neighborhood is best known for its numerous commercial and entertainment establishments, and being a

convenient place to live for downtown workers due to its proximity to public transportation and The Loop.

OFFERING SUMMARY:

OFFERING SUMMARY

Price $1,099,000

CAP 6.7%

GRM 10.72

Square Footage 3,458

$/SF $317.81

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS

4 + 2 1

3 + 2 2

2 + 1 1

ANNUALIZED OPERATING FINANCIALS PRO FORMA FINANCIALS

Scheduled Gross Income$102,480 $113,400

Less Vacancy Reserve($3,074) 3% * ($3,402) 3% *

Gross Operating Income$99,406 $109,998

Less Expenses($26,235) 26% * ($26,235) 23% *

Net Operation Income$73,171 $83,763

Less Loan Payments($50,706) ($50,706)

Cash Flow$22,465 8.2% ** $33,058 12.0% **

Plus Principal Reduction$12,790 $12,790

Total Return Before Taxes $35,255 12.8% ** $45,848 16.7% ***As a Percentage of Scheduled Gross Income**As a Percentage of Down Payment

FINANCIAL OVERVIEW:

PROPERTY VISUALS:

PROPERTY VISUALS:

PROPERTY VISUALS:

PROPERTY VISUALS:

DEMOGRAPHIC REPORT:

Population 0.5-Mile 1-Mile

Income 0.5-Mile 3-Mile

POPULATION 1 MILE 3 MILES

2019 Total Population 49,305 557,169

2024 Total Population 48,569 562,033

Population Growth 2019-2024 1.49% .87%

2019 Total Households 22,386 280,824

Median Household Income $112,744 $87,930

AERIAL VIEW:

SALES COMPS:

2144 W Potomac Ave

5 Units5,600 SF

Sold Jan 2019$2,000,000$357.14/SF

1544 W WabansiaAve

4 Units3,458 SFFor Sale

$1,099,000$317.81

SUBJECT OFFERING

2108 N Sheffield Ave

3 Units3,125 SF

Sold Jan 2019$1,300,000$416.00/SF

1029 W Wellington Ave

4 Units3,296 SF

Sold Mar 2019$1,115,000$338.29/SF

PRESENTED BY:WINDY CITY RE, LLC

Milan RubensteinManaging PartnerChicago, IL312-867-8744 x200818-445-3529

Pat StichCommercial Asset ManagerChicago, IL312-867-8744 x210847-849-7137

1544 W Wabansia Ave, Chicago, IL