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Residential Income Condo ( Unit )

1408 W Belmont, Lake View - Chicago 60657

$1,590,000

Condo Fee: $

Description

Investment opportunity in highly desirable Southport Corridor - three residential condo units (Units 2, 3, and 4) comprising 100% ownership of the HOA and common elements at 1408 W Belmont. $112k annual / $9.5k monthly rental income. Fully leased - Unit 2 is month-to month, Units 3 and 4 occupied thru March 2025. Excellent tenants pay on time. Rear half of lot (approx. 25x50ft) used as parking - eligible for ADU, may be redeveloped to extend current building footprint, add garage and/or additional unit(s).

Unit 1 ground floor commercial is separately owned and not included in sale / sold separately. Prime location near corner of Belmont & Southport. Street recently repaved and sidewalk widened - easy access to L stations, two blocks to Whole Foods, bus stop in front of property. Penthouse Unit 4 renovated 2018 with high-end kitchen. All units have newer mechanicals, in-unit W/D, rear decks. Seller is a licensed IL real estate broker.

Property Details

  • Property ID :

  • Price :

  • Property Size :

  • Year Built :

  • MRD11986116

  • $1,590,000

  • -

  • 2000

  • Unit # :

  • Bedrooms :

  • Bathrooms :

  • Garage :

  • -

  • 6

  • 6

  • -

  • Property Type :

  • Property Status :

  • Condo Fee:

  • Status:

  • Residential Income

  • For Sale

  • N/A

  • Active Under Contract

Location 1408 W Belmont, Lake View - Chicago 60657