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1521-1523 S Drake Ave, Chicago, IL 60623

View Smart Contracts: Eth xDai

Total Investment: $ 799,200.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    10.30%

    Not including capital appreciation

  • Rent per Token

    $ 5.14 / year
  • Rent Start Date

    July 21, 2021
  • Token Price

    $ 49.95
  • Total Tokens

    16,000

All financial statements of property yield are best estimates based on current conditions, and can change at any time.

We are targeting the above yield for investors; however, no assurance can be given that you will obtain any return on investment, and there is a risk that you can lose your entire investment.

  • Property Type

    Multi Family
  • Neighborhood

    North Lawndale
  • Construction Year

    1899
  • Total Units

    12 Units
  • Bedroom/Bath

    6x3, 6x2 / 12x1
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Section 8?

    Yes
  • Section 8 Pays...

    100%

Property Financials

  • Gross Rent / year

    $ 133,500.00
  • Gross Rent / month

    $ 11,125.00
  • Monthly Costs

    - $ 4,267.50
    • Property Management (8.00%)
      - $ 890.00
    • RealT Platform (2.00%)
      - $ 222.50
    • Property Taxes
      - $ 699.00
    • Insurance
      - $ 370.00
    • Utilities
      - $ 2,086.00
  • Net Rent / month

    $ 6,857.50
  • Net Rent / year

    $ 82,290.00
  • Total Investment

    $ 799,200.00
    • Underlying Asset Price
      $ 670,000.00
    • Operating Expense Reimbursement (10%)
      $ 79,916.67
    • Initial Maintenance Reserve
      $ 22,250.00
    • Initial Renovation Reserve
      $ 27,000.00
    • Unrounded Listing Price
      $ 799,166.67
    • Rounding Difference
      $ 33.33
  • Expected Income

    10.30%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    6,270
  • Parking

    Street Parking
  • Interior Size (sqft)

    11,544

Test Renovation content!

Rent Assistance!

This property's rent is partly or wholly paid by the U.S. Federal Government through HUD Section 8.

The rent of Section 8 properties is usually exceptionally stable.

About the Property

1521 and 1523 S. Drake are the best of a package of buildings purchased from a seller who personally curated and nurtured the tenancies, and personally managed the operations on a daily basis. They represent among the most exciting real estate investment opportunities we’ve offered to date: Two grey stone buildings in the sought after Lawndale neighborhood of Chicago, side by side, each with six units resulting in investment diversification, downside insulation and built-in economies and efficiencies of operation… all in one offering. One building is a past winner of the Chicago Association of Realtors “outstanding rehabs“ award and the other sports a recently installed new roof, new thermal pane windows, and a new steel porch. These buildings are not only attractive, they are in particularly good operating shape.

Map

Property Records

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