Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Chicago Heights Multifamily Property Title is generated by Realmo AI

    1308 Vincennes Avenue, Chicago Heights, IL 60411

    View on Map
    Claim this Listing
    For Sale
    $235,000

    MULTI_FAMILY - Chicago Heights, IL

    Added:
    Feb 3, 2026
    Days on Market:
    108
    Last Refresh:
    May 22 at 11:06 am

    Property Features for 1308 Vincennes Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Basement, Bedroom 3, Bathroom 3
    Basement
    Partial, Partially Finished
    Standard status
    Active
    APN
    32202110230000

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    4798

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1908
    Building materials
    Vinyl Siding

    We can help!

    Listing Contact
    Maria Delgado

    Listing agent Maria Delgado

    Listing office Su Familia Real Estate Inc 5417 S. Pulaski Rd., CHICAGO, IL

    Listing date Feb 3, 2026

    MLS# 12556145 Listing URL

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two separate units offer rental income potential or space for extended family.
    • Partially finished basement with a full bath provides flexible space.
    • Fenced yard offers privacy and security.
    • Concrete parking spaces off alley provide convenient off‑street parking.
    • Each unit features 2 bedrooms, a living room, and a full bathroom.
    • Screened porch provides an outdoor relaxation space.

    Overview

    This two-unit property in Chicago Heights, Illinois, presents an investment opportunity or a residence for a first-time buyer. The first-floor unit includes two bedrooms, a living room, a dining room, and a full bathroom. The second-floor unit also features two bedrooms and a full bathroom, along with a living room. The property has a partially finished basement with a full bath, suitable for an office space, game room, or extra storage. Additional features include a screened porch, a fenced yard, and concrete parking spaces located off the alley. The property includes two PIN numbers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.640289
    Latitude
    41.507497

    Nearby Similar for Sale

    • $275,000

      Historic Queen Anne Victorian Triplex

      Legal 3-flat in Chicago Heights' Historic District.
      51 W 21st Street, Chicago Heights, IL 60411
      View Details
    • $850,000

      Multi-Tenant Industrial Building For Sale

      Light industrial building with fenced yard, ideal for owner-user.
      3102-3108 Louis Sherman Drive Chicago Heights, IL 60475
      View Details
    • $699,900
      6,600 SF

      Updated Office Property on Lincoln Highway

      Recently updated office property with flexible layout and high visibility.
      44 W Lincoln Highway, Chicago Heights, IL 60411
      View Details
    • $233,000

      Rehabbed Chicago Heights Income Property

      Turnkey, income-producing two-unit property, fully renovated in 2025.
      40 W Main Street, Chicago Heights, IL 60411
      View Details
    • $230,000

      Rehabbed Chicago Heights Multifamily Property

      Fully rehabbed 2-flat in Chicago Heights, turnkey investment opportunity.
      238 E 22 Street, Chicago Heights, IL 60411
      View Details
    • $295,900

      Updated Duplex in Chicago Heights

      Two-unit property with recent updates and investment potential.
      146 E 24th Street, Chicago Heights, IL 60411
      View Details
    • $370,000

      Updated Multi-Unit in Chicago Heights

      Well-maintained four-unit property with updated interiors and modern amenities.
      489 Hickory Street, Chicago Heights, IL 60411
      View Details
    • $152,900

      Well-Maintained Chicago Heights Multi-Family

      Two-unit property ideal for owner-occupants or investors.
      1207 Emerald Avenue, Chicago Heights, IL 60411
      View Details
    • $295,000

      Commercial Property in Chicago Heights

      Commercial property with parking and high traffic count location.
      1645 Western Avenue, Chicago Heights, IL 60411
      View Details
    • $249,750

      Turnkey Restaurant and Salon Building

      Mixed-use building with restaurant and salon on high-traffic street.
      849 S Halsted Street, Chicago Heights, IL 60411
      View Details
    • $1,090,000

      Refurbished Car Wash on Western

      Turn-key car wash with recent remodeling and equipment upgrades.
      1603 Western Avenue, Chicago Heights, IL 60411
      View Details
    • $699,900
      6,600 SF

      Updated Office Property For Sale

      Recently updated office property with flexible layout and in-place income.
      44 W 14th St, Chicago Heights, IL 60411
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property with potential for investment or owner-occupancy.
    Where is this duplex located?
    The property is located at 1308 Vincennes Avenue Chicago Heights, IL.
    What is the asking price?
    The asking price for this property is $235,000.
    What are key features of this property?
    This property features: Two separate units offer rental income potential or space for extended family.; Partially finished basement with a full bath provides flexible space.; Fenced yard offers privacy and security.
    (312) 656-6301
    We can help!
    Listing Contact
    Maria Delgado
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1308 Vincennes Avenue, Chicago Heights, IL 60411
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!