$162,500

2 Bed, 1 Bath, Approx 1000 Sq Ft

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Welcome home to a very well-maintained, first floor, corner, condo unit condo in an excellent area! Walk into freshly painted unit with warm grey tones and a sun drenched unit dotted with south and west windows for that natural, crisp sunlight exposure accentuated by a functional floor plan. The living room refreshingly opens up to a balcony and a beautiful kitchen area with its honey colored kitchen cabinets, an impressive counter-top, s/s appliances and a large space designated for a breakfast table. Each bedroom is very spacious and it boasts huge closets; this unit has three additional closets for extra space too - plus a storage facility in the basement (Storage Unit #1A). And, as we know, the area is phenomenal: walk a few blocks west to downtown Park Ridge or walk a few blocks east to Edison Park - and enjoy the lively scene! Rentals OK. Pets OK. The following section consists of pertinent information to the unit/building. MONTHLY HOA DUES: The HOA dues are $383.83 per month. However, you only pay for electricity and cable/internet. The current owner just paid a special assessment and this covered a new roof, heated gutters and downspouts for the building. The roof now is about 2 months old. There is also discussion among the unit owners to lower the monthly HOA bills but it has not been confirmed yet. PROPERTY TAXES: The current, 2018 property tax bill is $3,071 per year without a homeowner's exemption on this unit. Your property tax bill will be about $678 less with a homeowner's exemption, which will reduce your property tax bill from $3,071 per year to about $2,393 per year. PARKING: This unit comes with an assigned spot (Parking Space #4) and the Association is working with an attorney to convert the assigned space into a deeded parking space; the Association is have a meeting in a couple of weeks about this very topic. There is also a ton of street parking in front of the building on Northwest Highway and one block south on Olmstead Avenue. RENTALS: You can rent this unit! The Association allows up to four (4) units to be rented. Presently, only one (1) unit is rented. Your prospective tenant will need a 680+ FICO score, per HOA rules, and the tenant will need to be approved by the Association. You can easily rent this particular unit for about $1,500 per month and, hence, capture $18,000 in gross rental income per year. Rental comparables can be proven at MLS #10276197 ($1,525) or MLS #10302315 ($1,550). LAUNDRY: There is also a coin-operated washer ($1) and dryer ($1) in the basement. Show and sell. A 10!

Status: NEW

Partner Agent

Tom Brown

Phone: 312-502-8213

Email: tb@sparrowrealty.us