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3031 W Flournoy St
3031 W Flournoy St
Chicago, IL 60612
About
Property originally listed for sale on the marketplace by Andrea Jones.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Owners voted to list the property for sale. See the "Property Updates" section below for more details.
The Operating Reserve balance ($3,206) is below half full.
Owners voted to apply 100% of cash flow to replenish the reserve until it is half full ($7,625) and then apply 50% of cash flow until the reserve is full ($15,250).
Based on the projected monthly cash flow ($576), it will take ~7.7 months for the reserve to be half full and ~26.5 additional months to go from half full to full.
The Operating Reserve balance is part of the property value. As a result, the property will increase in value as the Operating Reserve is replenished.
2-Unit property (Duplex) located in Chicago, Illinois.
Details
- Newly remodeled grey-stone 2-unit building
- Astounding ceiling heights
- Spacious living & dining room areas
- Located near the Medical District, Rush Hospital, University of Illinois at Chicago and Little Italy
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Chicago
- Insurance Policy through Obie Insurance
Occupancy Status
- Unit 1
- Vacant
- Property Manager will complete a QC inspection and list the unit for rent if there are no call-back items
- Unit 2
- 1 year lease (02/03/2023 - 02/29/2024)
- $1,257/month
- Tenant paid a Move-in Fee of $500 and will be responsible for all utilities.
- The tenant receives rental assistance from the government. The CHA portion is $1,257/month and the tenant portion is $0.
- Lease Agreement
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Inspection Report
- Assignment Contract
- Operating Agreement
- Closing Statement
- Property Deed
- View All Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
About this offering
The Market
Chicago, IL
Chicago, IL offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
Governance Results:
The Governance Voting results are back for the vote to accept, counter, or deny the buyer's request of a 6% credit.
The winning vote is:
Yes [Accept the 6% credit]
This option received 2,148 / 2,208 votes, which is equal to 97.2% of the total votes.
The voting results can be found on chain here or by searching the application ID: 2283630531
The listing agent will follow up with any updates on the closing process.
Investor Reviews
N/A/5(0 reviews)No reviews yet
Investors haven't shared their experience with this property yet.
Frequently Asked Questions
Have questions?
Have other questions? Learn how Lofty works
Projected Returns
Investing with Lofty can generate returns in two ways:
1) Annual cash flow from rental income.
2) Annual appreciation from long-term property value changes.
Monthly Cash Flow
$1,295
Monthly Rent
$1,295
Monthly Expenses
$0
Net Monthly Cash Flow
Annual Appreciation
Based on the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes appreciated an average of 11% per year over the last 20 years (March 31, 2003 - March 31, 2023).
This figure reflects a national benchmark for single family homes in the 35th to 65th home-price percentile range and may not represent this specific property's zip code. Real-world returns can also vary based on investment costs, hold period, and leverage.
Use the returns calculator below to explore how different assumptions can impact your hypothetical investment outcome.
Projected Returns Calculator
Adjust the assumptions below to model how this property could grow over 7 years.
Annualized Return
+3.6%
per year over 7 years
7-Year Projection
$1,286
+$286 vs. initial $1,000
This calculator is for illustrative purposes only and displays a range of hypothetical investment outcomes based on the inputs you provide. Actual investment outcomes depend on many factors and cannot be determined before the investment period ends. Historical performance is not indicative of future results.
The calculations assume a 7-year hold period and an average annual net operating income increase of 3%. The 10- and 20-year averages are based on data from the ZHVI Single Family Homes Time Series and reflect averages for single-family homes in the 35th to 65th percentile by home price.
About this offering
Returns
Monthly Operating Statement
Order book
Trading has not opened yet
The order book appears once this property reaches the secondary market and investors can place buy and sell orders.
Share price
3031 W Flournoy St
Chicago, IL 60612
About
Property originally listed for sale on the marketplace by Andrea Jones.
Click here to learn more about how third parties sell their properties on the Lofty Marketplace.
Owners voted to list the property for sale. See the "Property Updates" section below for more details.
The Operating Reserve balance ($3,206) is below half full.
Owners voted to apply 100% of cash flow to replenish the reserve until it is half full ($7,625) and then apply 50% of cash flow until the reserve is full ($15,250).
Based on the projected monthly cash flow ($576), it will take ~7.7 months for the reserve to be half full and ~26.5 additional months to go from half full to full.
The Operating Reserve balance is part of the property value. As a result, the property will increase in value as the Operating Reserve is replenished.
2-Unit property (Duplex) located in Chicago, Illinois.
Details
- Newly remodeled grey-stone 2-unit building
- Astounding ceiling heights
- Spacious living & dining room areas
- Located near the Medical District, Rush Hospital, University of Illinois at Chicago and Little Italy
- View Operating Reserve balance chart
- View property transaction data
Property Management and Insurance
- Managed by HomeRiver Group Chicago
- Insurance Policy through Obie Insurance
Occupancy Status
- Unit 1
- Vacant
- Property Manager will complete a QC inspection and list the unit for rent if there are no call-back items
- Unit 2
- 1 year lease (02/03/2023 - 02/29/2024)
- $1,257/month
- Tenant paid a Move-in Fee of $500 and will be responsible for all utilities.
- The tenant receives rental assistance from the government. The CHA portion is $1,257/month and the tenant portion is $0.
- Lease Agreement
Location Data
Due Diligence Documents
- HouseCanary Property Valuation Report (HouseCanary valuations are less accurate for 2+ Unit properties, like this property)
- Inspection Report
- Assignment Contract
- Operating Agreement
- Closing Statement
- Property Deed
- View All Documents
Property Management
Property Manager
Property manager details coming soon.
Due Diligence Documents
Offering Details
The Market
Chicago, IL
Chicago, IL offers a mix of neighborhood livability, local employment centers, and day-to-day amenities that support long-term housing demand. The area benefits from access to major commuter routes, schools, and retail services, while continuing to attract residents looking for affordability and convenience. As population and job activity remain steady across the broader region, rental demand is generally supported by both local households and in-migration trends.
Property Updates
Governance Results:
The Governance Voting results are back for the vote to accept, counter, or deny the buyer's request of a 6% credit.
The winning vote is:
Yes [Accept the 6% credit]
This option received 2,148 / 2,208 votes, which is equal to 97.2% of the total votes.
The voting results can be found on chain here or by searching the application ID: 2283630531
The listing agent will follow up with any updates on the closing process.
Investor Reviews
N/A/5(0 reviews)No reviews yet
Investors haven't shared their experience with this property yet.
Frequently Asked Questions
Need Help?
Have other questions? Learn how Lofty works
Projected Returns
Investing with Lofty can generate returns in two ways:
1) Annual cash flow from rental income.
2) Annual appreciation from long-term property value changes.
Monthly Cash Flow
$1,295
Monthly Rent
$1,295
Monthly Expenses
$0
Net Monthly Cash Flow
Annual Appreciation
Based on the Zillow Value Home Index (ZHVI) Single Family Homes Time Series, single family homes appreciated an average of 11% per year over the last 20 years (March 31, 2003 - March 31, 2023).
This figure reflects a national benchmark for single family homes in the 35th to 65th home-price percentile range and may not represent this specific property's zip code. Real-world returns can also vary based on investment costs, hold period, and leverage.
Use the returns calculator below to explore how different assumptions can impact your hypothetical investment outcome.
Projected Returns Calculator
Adjust the assumptions below to model how this property could grow over 7 years.
Annualized Return
+3.6%
per year over 7 years
7-Year Projection
$1,286
+$286 vs. initial $1,000
This calculator is for illustrative purposes only and displays a range of hypothetical investment outcomes based on the inputs you provide. Actual investment outcomes depend on many factors and cannot be determined before the investment period ends. Historical performance is not indicative of future results.
The calculations assume a 7-year hold period and an average annual net operating income increase of 3%. The 10- and 20-year averages are based on data from the ZHVI Single Family Homes Time Series and reflect averages for single-family homes in the 35th to 65th percentile by home price.