Off-Market Condo at 240 E Illinois St, Chicago, IL 60611

240 E Illinois St, Chicago, IL 60611

Unit - #2209

$475,000

Description

Profitable Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $272 per day and long-term for an average of $3,212 per month, based on similar listings in the area. Estimated short-term cap rate of 5.2%. Estimated long-term cap rate of -2.5%. Rarely available premier south facing 09 Tier with incredible city views of NBC Tower, Tribune Tower, the Wrigely Building, Trump Tower, the Lake and the River! Over 1,000sqft this 1 Bed+office w/ 1.5 Baths in this class A building located in the heart of Streeterville. With 10ft ceilings and wall-to-wall windows this residence is light, airy and flooded with natural light. Top of the line finishes include a gourmet kitchen w/ss appliances, slow closing cabinetry, granite countertops, marble bathrooms, custom closet organizers and window shades, and hardwood floors throughout. Enjoy all true city living has to offer being steps away from Michigan Ave's Magnificent Mile Shopping, the Lake, Parks, Restaurants, Movie Theater, as well as having Whole Foods and Planet fitness in the building. Experience luxury living w/exercise rooms, 24h door staff, sauna, newly renovated party room, media room, business center, outdoor pool w/terrace and lush landscape. Storage unit included. Deeded Parking: 50,000.

Property Information
Airbnb Avg Daily
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Occupancy Rate
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Monthly HOA
$885
Rental Policy
daily
Yearly Taxes
$9524
Bedrooms
1
Bathrooms
2
SQFT
1,020
Furnished
N/A
Year built
2008
Listing Status
Off Market
MLS
12189920

Short-term Rental Potential
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$75,168

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$465

Price/SQFT

Long-term Rental Potential
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$38,544

Revenue
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Profit
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Cap rate
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$3,212/mo

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