845 E 22ND ST APT 308 Lombard IL 60148

Investor Friendly Rental Condo Unit w/ an 8-Cap Return

https://www.zillow.com/view-imx/710b2f1d-ce51-435f-8301-803466b1040e/?utm_source=captureapp

Downtown Chicago Style condo in the suburbs. Immaculate 2 bedroom 2 bathroom gem on the 3rd floor of this highly sought after building and condo association provides a serene and tranquil environment. Brand new hardwood floors are throughout the unit with a full master closet. Full-length kitchen has new countertops and a standing breakfast counter (that isn't load bearing and could be removed to open up the kitchen and living area) new cabinets and an unobstructed Westward view. The unit has a separate entrance in the hallway for access to mechanicals - which makes this unit unique because it's extremely soundproof for having external HVAC / compressors. The cable and internet service is included in the HOA too! Owner only pays electric and gas. High ceilings, stainless steel appliances. Covered private deck overlooking greenery and next to Yorktown mall as well as Oakbrook center. Easy access to interstate highways I-355/290/88/294. Protected bird path nestled amongst the lengthy walking trail. Indoor heated parking space directly below unit in PRIME position w/ security camera pointing at space, also located perfectly in between garage entrance and elevator too are just steps away! You also get a spacious storage space right in front of your parking space. Brand new disposal system appliances and kitchen. It's all right here and ready to go - nothing to do but move in!

#302 closed in Sept 2024 at higher than ask at $357K for an all-cash purchase and was 50 SF lesser than #308

Along with a few other units in the adjacent buildings w/n this courtyard I've also attached a PDF of the MLS sheets for your reference $330K - $380K

Have old pics for reference; they put in hardwood floors through the main areas, kitchen w/ new cabinets and countertops resembling #302 comp, updated bathrooms and fixtures, oven / microwave appliances brand newly replaced never been used) - the rehab work is now done and the unit / new appliances have not been used or lived in since completion FYI

This is an investor friendly building and the unit would get near $3K in rent (basis on a neighboring rental comp that was on the first floor 200 SF less and second bathroom is only a half that rented for $2575)

The $165K assumable loan is at 3.625% interest also make it a worthwhile investment opportunity.

LOTS OF ADDED VALUE FURNITURE & ASSUMABLE LOAN! Owner including designer bedroom set w/ dresser from Ashley Furniture including with the sale! ALSO an assumable loan that you can save over $110K+ of interest savings built into your purchase transaction! See attached breakdown last photo for reference - Seller has $165K of assumable loan available with an interest rate of 3.625% (P+I $795.11) which is less than HALF the current market interest rate should your Buyer who purchases and assumes this loan will have significant savings! Very healthy condo association located next to Fountain Square retail and this condo association has over $1.2M+ in reserves and professionally managed (which is 20% higher than the latest reserve study recommending at least $1M in reserves). Freshly remodeled unit just rehabbed and refinished flooring, bathrooms, and kitchen w/ never before used appliances - never before lived in never before used oven/stove/microwave! See attached breakdown for reference. Condo was recently and fully renovated and updated too w/ brand new appliances bathroom and flooring [OLD PHOTOS from historical listing are available if you'd like to check or inquire].