Unbeatable Location in Chicago

$1,899,000
10
4
5,000
sq. ft.
$380
per sq ft
Heated sq ft: 4,500 sq ft
Avg Nightly Rate: $315
Home Legally Sleeps: 20
Occupancy Rate: 35 weeks
Annual Gross Income : 210000
Annual Net Operating Income : 50000
Property Type: Multi-Unit Property (B&B)
Ownership Type: Full (100%)
Seasoned Short Term Rental: Yes
Furnishings Included: Yes
For Sale By: Owner
Seller Financing: No
Niche: Business Stay, City Life
New Construction: Inquire
Days on Vrolio: 32

Property Description

Short-term rental with proven rental history in the heart of Old Town, Chicago. You can't beat this location and layout for the best short-term rental.

Presented by:
Owner:
drew kenning
Seller Financing
No
Distress Sale
None
Seller Financing Terms
Seasonal Nightly Rates
High: 650
Low: 99
Peak: 650
Special Event: 650
Avarage: 315.00
Furniture Age
3
Est Value of Furnishings
$30,000
Peak & High Seasons
June, July, August, September
Ownership Percentage
Full (100%)
Qualifies for foreign national visa
Not sure
Reason for Selling
Funding a new startup venture and liquidating assets.
Foreign national buyer restrictions from government?
Not sure
Gross Annual Income
210000
Net Operating Income
50000
Stories
3
Additional Indoor Rooms
Family Room, Home Office/Den, Living Room, Multiple Master Suites
Appliances
Dishwasher, Dryer, Electric appliances, Full stove, Garbage Disposal, Gas appliances, Microwave, Oven, Refrigerator, Washer, Other
Heating/Cooling
Central Heat (gas or electric), Wall Unit A/C, Wood Burning Fireplace
Floor Coverings
Real Hardwood
Security
Yes
Security Description
Blink - Amazon Product
Half Baths
1
Master Suite(s)
Inquire
Energy Efficiency
Carpet, Skylights
Year built
1923
Outdoor Features
Courtyard, Fenced/Gated Yard, Porch - Not screened
View
City
Backyard Exposure
West
Lot Size
Inquire
Community Features
Tax Amount/Year
$25,000
CDD Amount
Inquire
Neighborhood
Inquire
Deed Restricted Community
No
Interview Required
No
Neighborhood Amenities
Mandatory HOA
Inquire
Home Legally Sleeps:
20
Onsite Parking
6 parking spots.
Neighborhood Association STR Rules
Inquire
Municipality STR Rules
Yes, Happy to discuss in person.
Transferrable Permit or License
Yes, Municipality Issuing New Permits
Rental Tax Info
$3.00
Minimum Nightly Rental
No Minimum
Rental Length Requirement
No Restriction
Has Rental History
Yes
Established Rental History
3 Years
Occupancy Rate
35
Being Sold with Bookings
Inquire
Caretaker Info
InquireCaretaker cannot stay and oversee the property
Bookings Placed By
Third Party
Managed By
Owner
Management Bookings Percentage
Inquire
Caretaker Bookings Percentage
Inquire
Paid Booking History
Yes
Future Booking Calendar
Management Fees
Inquire
Caretaker Fees
Inquire
Sold with Marketing Collateral
No
Manager Cancellation Policy
 
  •  
Credit Card Fee
Inquire
Cleaning Fee
$100.00
Licesnes & Permits (Annual)
Inquire
Advertising & Tech Costs (Annual)
Inquire
Yard & Pest Control (Annual)
$4,000.00
Pool & Spa Maintinence (Annual)
Inquire
Electricity (Annual)
$2,000.00
Water/Sewer (Annual)
$1,200.00
Cable/Interbet (Annual)
$2,000.00
Accounting Fee (Annual)
Inquire
Property Taxes (Annual)
$25,000.00
Homeowner's Insurance (Annual)
$5,600.00
Short Term Rental Insurance Rider (Annual)
Inquire
CDD Fee (Annual)
Inquire
Annual Homeowner's Association Dues
Inquire
Additional Membership Fees (Annual)
Inquire
Acquisition
Purchase price
Closing costs
Home Inspection
Furniture & Interiors Package
Rehab Work Estimates
Other
Total Capital Investment

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Income
Average Nightly Rent

Weekly Rent

Potential Annual Rent

Weeks Rented (of 52)

Additonal Net Revenue Streams

Effective Gross Revenue

Effective Gross Rent

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Variable Expenses (Annual)
Management Rental Commission (%)

Management Rental Commission Annually ($)

Credit Card Fee (%)

Credit Card Fee Annually ($)

Cleaning Fee ($ per rented wk)

Cleaning Fees Annually

Booking Site Service Fees (%)

Booking Site Service Fees ($)

Management Fee ($ per mo)

Management Fee Annually

Additonal Nightly Insurance Policy ($ per night)

Additonal Nightly Insurance Policy Annually

Sales, Bed, Resort, Tourist Tax (%)

Sales, Bed, Resort, Tourist Tax Annually ($)

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Fixed Expenses (Annual)
Annual Permits/Licences

Advertising & Tech Costs

Yard and Pest Control

Pool Maintenance

Electricity

Water/Sewer

Cable/Internet

Accounting

Property Taxes

Homeowner's Insurance

Short Term Rental Insurance Rider

CDD fee

Annual Homeowners Association Dues

Additional Membership Fees

Maintenance Reserves/Supplies

Other

Fixed & Variable Expenses

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Loan
Down Payment (%)

Down Payment (Capital Investment)

Loan Amount

Interest Rate

Amortization (Loan Years)

Monthly Payment

Annual Debt Service

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Returns
Average Monthly Cash Flow

Annual Cash Flow

Cash-on-Cash Return

Annual Occupancy to Break Even

Break-Even Occupancy (Weeks)

Net Operating Income (NOI)

Cap Rate (ROI)

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User understands this calculator is deemed reliable but not guaranteed. Vrolio makes absolutely no guarantees on returns or income. User should do their own due diligence and verify all data before making a purchasing decision. User understands that this is an educational tool only. We therefore accept no liability arising from any reliance made by any user or person to whom this information is made available to. Please use this tool at your own discretion and use caution always before buying any real estate investment.

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