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    The Largest CRE Database in the US with Over 1 Million Listings

    3704 W Lexington Street Chicago, IL 60624

    View on Map
    New
    For Sale
    $609,000

    MULTI_FAMILY - Chicago, IL

    Added:
    Apr 1, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 2 at 9:06 am

    Property Features for 3704 W Lexington Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    MULTI
    Bedrooms
    9
    Bathrooms
    6
    Rooms
    Bathroom 4, Bedroom 1, Bedroom 9, Bathroom 1, Bathroom 3, Bathroom 6, Bedroom 8, Bedroom 6, Bedroom 3, Bedroom 7, Bathroom 2, Bedroom 4, Bedroom 5, Bathroom 5, Bedroom 2
    Parking
    3
    Parking features
    Owned, Off Alley
    Patio and Porch features
    Deck
    Fencing
    Fenced
    Standard status
    Active
    APN
    16143070420000

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    6979

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    2008
    Building materials
    Brick
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Anna Krzemien
    Anna Krzemien

    Listing agent Anna Krzemien License #475126478

    Listing office RE/MAX 10 9909 Southwest Hwy., Oak Lawn, IL

    Listing date Apr 1, 2026

    MLS# 12605918

    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.

    Overview

    Chicago Triplex: Modern Investment Property

    This legal 3-unit building in Chicago, IL, presents an investment opportunity with stable income potential. Constructed in 2008, the all-brick property offers durability and modern design. Each unit features an open-concept layout, hardwood floors, 3 bedrooms, 2 full bathrooms, in-unit laundry, and private entrances. The top-floor unit includes soaring ceilings and an open staircase. Two units are currently occupied by long-term tenants, providing immediate cash flow. The third unit was previously rented for $1,850 per month. Additional revenue is generated from on-site parking. The property is located in a desirable area with access to downtown Chicago, public transportation, shopping, and dining. This newer construction property combines low maintenance with modern design, and no shared common areas, providing added privacy and strong tenant appeal. It is suitable for both seasoned investors and owner-occupants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.718391
    Latitude
    41.871991

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    FAQs

    What type of property is this?
    Triplex - Legal 3-unit building built in 2008 with income potential.
    Where is this triplex located?
    The property is located at 3704 W Lexington Street Chicago, IL.
    What is the asking price?
    The asking price for this property is $609,000.
    What are key features of this property?
    This property features: Legal 3‑unit building built in 2008, offering a strong investment opportunity with stable income potential.; Each unit features 3 bedrooms and 2 full bathrooms, as well as in‑unit laundry and private entrances.; Two units are currently occupied by long‑term tenants, providing immediate cash flow.
    (708) 857-1500
    We can help!
    Listing Contact
    Anna Krzemien
    Anna Krzemien
    Real Estate License ID: 475126478
    Learn More
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    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
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