East Randolph Street – Call Kristine 312-933-1894

I have helped a client bought a studio at the 512 McClurg unit 3403 with great view to the lake and city. The unit is around 650 square feet with nice and large kitchen, marble bathroom and lots of closet spaces. The closed price is $172,000 which is the lowest price in the building for a studio.

My client has authorized me to listed it out for rent right after the purchase. It went on the market at 5pm on Friday, July 8th  for $1,295 per month and on Sat morning July 9th, we have found a good renter who would like to pay the full price rent and starting to rent from the end of July.

The current assessment is $258 per month and the tax is $2,789 per month (homeowner) so we could increase 10% for the investor, that will be $3,068, that means $256 per month, so the total cost is $514. With the monthly rent income of $1,295, total cash inflow is $781 per month and $9,376 per year. That is 5.45% return on the purchase. This should be a very high return rate for investment.