1941 West Balmoral Avenue

Chicago, IL 60640

$1,050,000
Price
9
Beds
5
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Rare legal 4-unit opportunity in Andersonville/Bowmanville. This neighborhood is not only one of the COOLEST in the United States, but also in the world according to TimeOut. Renovated in 2014, the property features (4) beautifully updated units, including (3) 2-bed /1-bath apartments, (1) 3-bed / 2-bath duplex-down apartment, and (1) additional fifth non-conforming 1-bed / bath garden apartment. Each unit boasts modern kitchens with granite countertops, stainless steel appliances, and separate furnaces....Rare legal 4-unit opportunity in Andersonville/Bowmanville. This neighborhood is not only one of the COOLEST in the United States, but also in the world according to TimeOut. Renovated in 2014, the property features (4) beautifully updated units, including (3) 2-bed /1-bath apartments, (1) 3-bed / 2-bath duplex-down apartment, and (1) additional fifth non-conforming 1-bed / bath garden apartment. Each unit boasts modern kitchens with granite countertops, stainless steel appliances, and separate furnaces. Additional capital improvements include a new porch (Sept. 2024), tuckpointing, and building owned laundry. With a total in-place rental income of 103,260/year (8,605/month), this property offers both immediate returns and potential for growth by adding central AC and/or in-unit laundry. The building sits on the corner of a quiet tree-lined street with single family homes, well-manicured lawns, community gardens and green space. You will always find something to do in this neighborhood. Walk out your door and you can try some of Chicago's best local brews at Half Acre and Spiteful Brewery. Clark Street's fabled "restaurant strip" is a short walk away with Hopleaf Bar, epic brunch spot m. henry and some of the city's best comfort food at Big Jones. Don't miss out on this exceptional investment or live-in opportunity in a thriving Chicago community!
  1. Listed by Harrison Cohen • Triton Realty Group LLC
  2. Listed by James Thompson • Triton Realty Group LLC

Property Details for 1941 West Balmoral Avenue

Area
CHI - Lincoln Square
Township
Lake View
Ownership
Fee Simple
Num Of Parking Spaces
0.0
Heat/Fuel
Natural Gas, Forced Air
LISTING UPDATED: 12/09/2024 06:05 PM

Property Details for 1941 West Balmoral Avenue

StatusContingent
MLS #12221311
Days on Market6
Taxes$12,114 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeTwo to Four Units / 4 Flat
Year Built1908
Lot Size0.07 AC / 3,125 SF
CountyCook County

Building Information for 1941 West Balmoral Avenue

Stories-Residences4Year Built1908Building Size-Lot Size0.07 AC / 3,125 SF

Property Information for 1941 West Balmoral Avenue

General Information
School Information
  • Elementary School District: 299
  • High School District: 299
  • Middle Or Junior School District: 299
Addtl Parking Information
  • Parking: None
Property Information
Interior Features
  • Num Of Rooms: 18
  • Bedrooms (Below Grade): 0
  • Basement Type: Full
  • Bedrooms Possible: 9
  • Basement Description: Finished, Exterior Access, Egress Window
  • Basement Bathrooms: No
  • # Full Baths in Building: 5
  • # Half Baths in Building: 0
  • Num of Baths: 5.0
Utilities / Equipment
  • Sewer: Sewer-Public
  • Water: Lake Michigan
Property/Lot Information
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: Yes
  • Rehab Year: 2014
  • Built Before 1978: Yes
  • Age: 100+ Years
  • Lot Description: Corner Lot
  • Lot Size: Less Than .25 Acre
  • Lot Dimensions: 25 X 125
  • Total # Units in Building: 4.0
  • Waterfront: No
  • Exterior Building Type: Brick
  • Roof Type: Flat
  • General Information: None
  • North Coordinate: 5400
  • South Coordinate: 0
  • East Coordinate: 0
  • West Coordinate: 1941
  • 3 Br Un In Bldg: Yes
Property and Assessments
  • Buyer Financing: Conventional, FHA, VA, Cash
  • Public Document Count: 0
  • Photos Count: 27
  • OpenHouse Count: 1
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Income & Expenses
  • Electric Expense: $1,383.00
  • Fuel Expense: $.00
  • Gross Income: $103,260.00
  • Insurance Expense: $2,361.00
  • Maintenance Expense: $1,000.00
  • Manager Expense: $.00
  • Electric Expense Source: Actual
  • Fuel Expense Source: Actual
  • Insurance Expense Source: Actual
  • Manager Expense Source: BP
  • Other Expense Source: Broker Projection
  • Repairs-Decor Expense Source: Broker Projection
  • Trash Expense Source: Actual
  • Water Expense Source: Actual
  • Net Operating Income: $84,109.00
  • Professional Management Expense: $.00
  • Trash Expense: $.00
  • Water Sewer Expense: $1,292.00
  • Other Expenses $: 1000
Unit 1
  • Unit Type Actual Rent: $2,095.00
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 1
  • Lease Expiration Date: 06/25
Unit 2
  • Unit Type Actual Rent: $1,675.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Lease Expiration Date: 06/25
Unit 3
  • Unit Type Actual Rent: $2,025.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 3
  • Lease Expiration Date: 06/25
Unit 4
  • Unit Type Actual Rent: $1,710.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 4
  • Lease Expiration Date: 05/25

Property History for 1941 West Balmoral Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1941 West Balmoral Avenue

Taxable ValueLand$25,000Additions$32,417Total$57,417
Tax Record2022$11,810 ($984 / month)
Home Facts
Baths4Total Finished SqFt3,258 SqFtAbove Grade Finished SqFt3,258 SqFtStories2Lot Size3,125 SqFtStyleMulti-Family Res (5+ Units)Year Built1909CountyCOOKAPN14-07-210-012

Schools near 1941 West Balmoral Avenue

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Charter - K to 8
Public - K to 8
Rating
School
Distance
Chappell Elementary School
PublicPK to 8

Amundsen High School
Public9 to 12

Passages Elementary Charter School
CharterK to 8

Stone Elementary Scholastic Academy
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Triton Realty Group LLC

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 12/09/2024 06:05 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.