Duplex-Down Residential Income
New
For Sale
$739,000
1112 Church Street Unit 1W, Evanston, IL 60201
Spacious two-level residence with garage parking, outdoor areas, and convenient access to transit, shopping, dining, and Northwestern University.
Property Size2,450 SF
Price / SF$301.63
Days on Market7
Property Features for 1112 Church Street Unit 1W
General Information
Standard status
Active
Size
2,450 SF
Property subtype
Condo-Duplex,Townhouse-2 Story
Units
Unit Mix
1 x 3BR/3.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,756
Amenities
gas fireplace
balcony
in-unit laundry
fenced rear outdoor area
Building Details
Building Size
2,450 SF
Year Built
1902
Listing Agency:
john greene, Realtor
Listed By:
George Simic · License #475166544
(224) 805-7955
Source:
Dawnmckennagroup
Added: Sep 11
Changed: Sep 17
Last Checked: Sep 17 at 1:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of john greene, Realtor
Investment Insights
Based on property information with market context.
This duplex-down residence offers approximately 2,450 square feet with three bedrooms and 3.5 baths across two levels. The main floor includes Brazilian cherry hardwood flooring, high ceilings, a living room with gas fireplace, and a kitchen equipped with a breakfast bar, pantry, Wolf range cooktop, Jenn-Air refrigerator, new dishwasher, and extensive cabinetry. A primary suite includes two fitted walk-in closets and a private bath with a new shower and tub. The lower level adds a family room, two bedrooms, two full baths, and a flexible bonus room. Full-size in-unit laundry, a private balcony, fenced rear outdoor space, and deeded detached garage parking with storage complete the property.
Built in 1902, the residence is located at 1112 Church Street in Evanston. Restaurants, shopping, Metra and CTA service, Northwestern University, the lakefront, and parks are all nearby.
Built in 1902, the residence is located at 1112 Church Street in Evanston. Restaurants, shopping, Metra and CTA service, Northwestern University, the lakefront, and parks are all nearby.
Key Highlights
- Approximately 2,450 square feet with 3 bedrooms and 3.5 baths
- Duplex‑down layout includes a family room, bonus room, and two lower‑level bedrooms
- Main‑level suite has two fitted walk‑in closets and a private bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,422
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$568,440
$568.4K
Cap Rate 7%
$406,029
$406.0K
Cap Rate 9%
$315,800
$315.8K
Market Conditions
NOI Build-Up for 2,450 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.6K $22.68/SF
− Vacancy
−$3.9K −$1.59/SF
EGI
$51.7K $21.09/SF
− OpEx
−$23.3K −$9.49/SF
NOI
$28.4K $11.60/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$568,440
Cap Rate 7%
$406,029
Cap Rate 9%
$315,800
Alternative Uses
Best Use
Apartment 5plus
$406.0K
$355.3K – $473.7K
NOI $28,422 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$845.9K
$740.1K – $986.9K
NOI $59,211 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 60201, IL
44,652
Population
18,890
Households
2.4
Avg Household Size
33
Median Age
74%
College-Educated
97%
High-School Grad
4.5 sq mi
ZIP Area
9,923
Density / Sq Mi
$92,101
Median Household Income
$42,412
Median Earnings
$1,792
Median Rent
$577,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Spacious two-level residence with garage parking, outdoor areas, and convenient access to transit, shopping, dining, and Northwestern University.
Where is this residential income property located?
The property is located at 1112 Church Street Unit 1W Evanston, IL.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: Approximately 2,450 square feet with 3 bedrooms and 3.5 baths; Duplex‑down layout includes a family room, bonus room, and two lower‑level bedrooms; Main‑level suite has two fitted walk‑in closets and a private bath
