$399,999
●
Condo -
Off Market
1338 W MADISON Street #3
Chicago, IL 60607
2 Beds
1 Bath
1,500 Ft²
$398,927
RealtyHop Estimate
-0.27%
Since Sep 1, 2023
IL-Chicago
Primary Model
About This Property
Classic and unique artist-style loft in the heart of Chicago's
hottest neighborhood, the West Loop! This great space
features high ceilings, exposed brick, hardwood floors,
custom wood trim and vintage details from antique doors to
stained glass. Spacious living/dining/kitchen combination
with room for large dining table and work from home area.
Elevator access, private balcony, In-unit laundry room.
Exposed brick, two ornate fireplaces and ample storage space.
Both bedrooms have fully enclosed walls. Building has
elevator. A small building with a community atmosphere just
steps from Skinner Park with a children's playground, workout
areas, an enclosed dog park. Walking distance to
Restaurant Row, Fulton Market, and the United Center; short
bus ride to get Downtown on the #20 bus with stops right
across the street. Low assessments and property taxes.
Rentals allowed. Parking options available nearby. Sellers
would like a 60 day post closing possession.
Unit Size
1,500 Ft²
Days on Market
-
Land Size
-
Price per sqft
$267
Property Type
Condo
Property Taxes
$743
HOA Dues
$257
Year Built
-
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Cap Rate Calculator
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 3 years ago (MRED MLS #11750009)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 31, 2023 | Sold | ||
| Sold | |||
| Apr 1, 2023 | Listed by RE/MAX 10 Lincoln Park | $399,999 | |
| Listed by RE/MAX 10 Lincoln Park | |||
Property Highlights
Elevator
Air Conditioning
Fireplace
Interior Details
Bedrooms: 2
Bathrooms: 1
Full Bathrooms: 1
Interior Features: Elevator
Appliances: Range, Dishwasher, Refrigerator, Washer, Dryer
Rooms: 5
Fireplace Features: Decorative
Fireplaces: 2
Basement: None
Basement Description: None
Exterior Details
Ownership: Condo
Exterior Building Type: Brick
Age: 100+ Years
Rebuilt(Y/N): No
Parcel Number: 17083350261003
Property Type: Residential
No Disability Access
Special Conditions: None
Exterior Features: Deck
Lot Size Dimensions: COMMON
Water Source: Lake Michigan
Financial Details
Tax Year: 2021
Tax Annual Amount: $8,922
Tax Exemptions: Homeowner
Utilities Details
Cooling: Central Air
Heating: Natural Gas, Forced Air
Sewer : Public Sewer
Location Details
Township: West Chicago
Corporate Limits: Chicago
Directions: EAST OF ASHLAND, WEST OF RACINE
County or Parish: Cook
Elementary School District: 299
Middle Or Junior School District: 299
High School District: 299
Other Details
Association Fee Includes: Water, Insurance, Security, Exterior Maintenance, Scavenger
Association Fee: $257
Association Fee Freq: Monthly
Holds Earnest Money: No
Some Photos Virtually Staged (Y/N): No
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
04/01/2023
|
2 Bed
|
1 Bath
|
1500 ft²
|
$399,999
2 Bed
1 Bath
1500 ft²
|
$400,000
+0.00%
09/07/2023
|
Michael Michalak
RE/MAX 10 Lincoln Park
| |
|
01/03/2023
|
Studio
|
-
|
-
|
$589,000
Studio
-
|
$550,000
-6.62%
03/23/2023
|
Dominic Foderaro
Be Realty, LLC
| |
|
02/05/2022
|
2 Bed
|
1 Bath
|
1500 ft²
|
$465,000
2 Bed
1 Bath
1500 ft²
|
-
-
|
Vanessa Carlson
iRealty Flat Fee Brokerage
| |
|
09/08/2021
|
2 Bed
|
2 Bath
|
1500 ft²
|
$499,000
2 Bed
2 Bath
1500 ft²
|
$480,000
-3.81%
12/17/2021
|
Elizabeth Bennan
Berkshire Hathaway HomeServices Chicago
|
Building Info
About West Side
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Listed by: Michael Michalak, RE/MAX 10 Lincoln Park
Last Updated: 3 years ago
Data Source: MRED, MLS# 11750009
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. Some IDX listings have been excluded from this website.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
Last Updated: 3 years ago
Data Source: MRED, MLS# 11750009
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