Off-Market Condo at 701 S Wells St, Chicago, IL 60607
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701 S Wells St, Chicago, IL 60607

Unit - #2102

$425,000

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Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607
Image of property at 701 S Wells St, Chicago, IL 60607

Description

Profitable Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $332 per day and long-term for an average of $3,559 per month, based on similar listings in the area. Estimated short-term cap rate of 7.0%. Estimated long-term cap rate of -1.0%. Welcome to your dream home at Wells Street Tower, perfectly perched on the 21st floor in the vibrant Printers Row/South Loop neighborhood! This fabulous east-facing 2-bedroom, 2-bathroom condo is drenched in sunlight and boasts breathtaking city views. Imagine starting your day with a stunning sunrise from your spacious balcony, where you can sip your morning coffee while soaking in the vibrant cityscape. Inside, enjoy the open-concept kitchen, featuring sleek stainless steel appliances, new quartz countertops, new backspalsh and a spacious breakfast island perfect for entertaining friends. Cozy up to the updated elegant marble fireplace in the living room, where you can enjoy a warm and toasty evening overlooking the cityscape on those chilly Chicago nights. The primary bedroom is your personal retreat, with addition of somfy motorized shades, a walk-in closet and an upgraded en-suite bathroom featuring a combination soaking tub/shower and a stylish double bowl vanity. Both bedrooms are fully enclosed, providing privacy and comfort. Enjoy the convenience of in-unit laundry and comprehensive assessments that cover heat, A/C, cable, internet, parking, and gas. You'll also have a storage locker and a coveted garage parking spot included! Wells Street Tower offers fantastic amenities, including a 24-hour doorman, fitness center, party room, club/business room, with an outdoor deck all on the 8th Floor. You're just steps away from CTA trains/buses, expressways, restaurants, museums, parks, shopping, and more! Don't miss your chance to live in one of Chicago's most dynamic neighborhoods!

Property Information
Airbnb Avg Daily
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Occupancy Rate
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Monthly HOA
 $1055
Rental Policy
 daily
Yearly Taxes
 $7006
Bedrooms
 2
Bathrooms
 2
SQFT
 1,215
Furnished
 N/A
Year built
 2002
Listing Status
 Off Market
MLS
 12307488
Short-term Rental Potential
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$76,500

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$349

Price/SQFT
Long-term Rental Potential
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$42,708

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$3,559/mo

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