Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2131 N Springfield Ave Chicago, IL 60647

    View on Map
    Sponsored
    For Sale
    $599,000

    MULTI_FAMILY - Chicago, IL

    Days on Market:
    23
    Last Refresh:
    Mar 10 at 5:06 am

    Property Features for 2131 N Springfield Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 1, Basement, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2
    Bedrooms
    5
    Bathrooms
    2
    APN
    13351170100000
    Parking
    2
    Parking features
    Garage
    Basement
    Unfinished, Full

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1913
    Building materials
    Brick

    We can help!

    Listing Contact
    Maria Rodriguez DiGioia

    eXp Realty, LLC (888) 574-9405

    Listing agent Maria Rodriguez DiGioia (630) 364-8185

    Listing date Feb 15, 2026

    MLS# 12537082 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.

    Learn more

    Property Insight Report

    Overview

    Well-Maintained Logan Square Two-Flat

    Located in the heart of Logan Square, this all-brick two-flat has been thoughtfully maintained. The building features professional tuckpointing, a new flat roof installed in 2020, and newer windows. The first-floor unit includes 2 bedrooms, 1 updated full bath, an enclosed porch, a bright kitchen with a pantry, and laminate hardwood floors. The second-floor unit offers 3 bedrooms and 1 updated full bath, along with a spacious kitchen with a walk-in pantry and an inviting layout with natural light. A full unfinished basement provides potential for additional living space, storage, or renovation. Outside, there is a full cement back patio, a fenced-in yard with a sliding gate, an exterior parking space, and a detached 2-car garage. The property is located next to Mozart Park, with its fitness center, basketball courts, and baseball field, and is surrounded by restaurants, local shops, and public transportation. This property is suited for income generation or living in one unit and renting out the other.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.723844
    Latitude
    41.919987

    Nearby Similar for Sale

    • New
      $499,000
      5,000 SF

      Humboldt Park Retail Property For Sale

      Fully leased retail property in Humboldt Park with income.
      3614 W Division St, Chicago, IL 60651
      View Details
    • New
      $499,000
      5,000 SF

      Humboldt Park Retail Investment Property

      Fully leased retail property in Humboldt Park with income.
      3620 W Division St, Chicago, IL 60651
      View Details
    • New
      $499,000
      5,000 SF

      Humboldt Park Retail Property

      Fully leased retail property with long-term tenants and parking.
      3614 W Division St, Chicago, IL 60651
      View Details
    • New
      $499,000
      5,000 SF

      Humboldt Park Retail Property

      Fully leased retail property in Humboldt Park with income.
      3620 W Division St, Chicago, IL 60651
      View Details
    • New
      $625,000
      4,593 SF

      Fulton River District Commercial Loft

      Classic timber loft in Fulton River District, Chicago.
      566 W Lake St, Chicago, IL 60661
      View Details
    • New
      $675,000

      Brighton Park Commercial Strip Center

      Well-maintained commercial strip center in high-traffic location, fully leased.
      4044-48 S Archer Ave, Chicago, IL 60632
      View Details
    • New
      $1,000,000
      22,355 SF

      Free Standing Building in Chicago

      22,355 SQF building with multiple uses and great location.
      859 N Spaulding Ave, Chicago, IL 60651
      View Details
    • New
      $1,300,000
      5,300 SF

      Turnkey Banquet Hall Investment

      Modern, renovated 5,300 SF banquet hall with commercial kitchen.
      5319 W Belmont Ave, Chicago, IL 60641
      View Details
    • $649,000

      Prime Corner Location Office/Retail Space

      Excellent office/retail space in a prime corner location.
      211 W Wacker Dr, Chicago, IL 60606
      View Details
    • New
      $859,000
      0.24 Acres

      Alsip Commercial Opportunity on Pulaski

      Turn-key auto repair shop with redevelopment potential in Alsip, IL.
      11849 S Pulaski Rd, Alsip, IL 60803
      View Details
    • $859,000
      0.24 Acres

      Alsip Commercial Opportunity on Pulaski

      Turn-key auto repair shop with redevelopment potential in Alsip, IL.
      11849 S Pulaski Rd, Alsip, IL 60803
      View Details
    • New
      $399,000
      0.14 Acres

      Chicago Commercial Property For Sale

      Commercial property with expansion potential and long-term tenants in Chicago.
      514 W 71St St, Chicago, IL 60621
      View Details

    FAQs

    What type of property is this?
    Duplex - Updated two-flat near Mozart Park in vibrant Logan Square.
    Where is this duplex located?
    The property is located at 2131 N Springfield Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: - Prime Logan Square location next to Mozart Park, close to restaurants, shops, and public transportation.; - Well-maintained all-brick 2-flat with new roof (2020), newer windows, and tuckpointing.; - Two units: a 2-bedroom unit and a 3-bedroom unit, both with updated bathrooms.
    (630) 364-8185
    Request Owner's contact information
    2131 N Springfield Ave Chicago, IL 60647
    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.
    2131 N Springfield Ave
    Chicago, IL 60647
    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
    2131 N Springfield Ave Chicago, IL 60647
    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

    We can help!
    Listing Contact
    Maria Rodriguez DiGioia
    Real Estate License ID: 475166253
    (630) 364-8185 (888) 574-9405
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!