Off-Market Condo at 3200 N Lake Shore Dr, Chicago, IL 60657
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3200 N Lake Shore Dr, Chicago, IL 60657

Unit - #902

$375,000

Description

Profitable Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $215 per day and long-term for an average of $3,670 per month, based on similar listings in the area. Estimated short-term cap rate of 2.5%. Estimated long-term cap rate of -0.6%. STUNNING, SUN-DRENCHED, HIGHLY UPGRADED EAST-FACING CONDO WITH PICTURESQUE, PANORAMIC VIEWS OF LAKE MICHIGAN & BELMONT HARBOR! This meticulously maintained home features floor-to-ceiling, newly installed double-pane windows with new shades, an open layout, and incredible natural light. The sleek stainless/granite kitchen opens to a separate dining area and huge living room with a fireplace. Recent updates include a brand-new stovetop, upgraded kitchen faucet, and recoated bathtubs and sinks for a fresh, modern look. The ideal split-bedroom layout boasts two large ensuite bedrooms with excellent closet space. Additional updates include freshly repainted walls and closets, new sink fixtures in the bathrooms, upgraded shower heads with rain heads, replaced old furnace registers, and newly installed banisters on steps. Plus, major plumbing upgrades have been completed in the south bathroom and under the kitchen sink for added peace of mind. Located in a premier full-amenity building with a 24-hour doorman, indoor pool with sundeck, fitness center, party room with kitchen, new laundry room, and attached heated garage. Prime East Lakeview location! Walk to the lakefront, bike path, tennis courts, driving range, health clubs, Mariano's, and the neighborhood's best restaurants, boutiques, bars, and coffee shops. Nettelhorst School District! Rarely lived in-occupied an average of only 8 weeks per year! All updates have been completed within the last four years, ensuring a move-in-ready home with modern conveniences.

Property Information
Airbnb Avg Daily
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Occupancy Rate
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Monthly HOA
$1337
Rental Policy
daily
Yearly Taxes
$6388
Bedrooms
2
Bathrooms
2
SQFT
1,250
Furnished
N/A
Year built
1967
Listing Status
Off Market
MLS
12276503

Short-term Rental Potential
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$55,872

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$300

Price/SQFT

Long-term Rental Potential
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$44,040

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$3,670/mo

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