Townhouse-Style Duplex with
For Sale
$650,000
1132 E 44th Street Chicago, Chicago, IL 60653
Duplex with two independent units, separate utility metering, and a dedicated side-yard easement for added outdoor flexibility.
Property Size3,300 SF
Price / SF$196.97
Days on Market51
Property Features for 1132 E 44th Street Chicago
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Two to Four Units
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,533
Amenities
Unfinished,Full
Separate Shower
4
5
3
1
2
773-697-1543
Corner Lot
Public
20x68x20x68
0.03
No
Building Details
Year Built
1888
Listing Agency:
(847) 558-6808
Listed By:
Jorge Trujillo · License #475185100
(847) 558-6808
Source:
Remaxadream
Added: Jul 3
Changed: Aug 8
Last Checked: Aug 21 at 4:02AM
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 Jorge Trujillo
Investment Insights
Based on property information with market context.
This townhouse-style duplex is arranged on multiple levels to support two distinct residences within a vertical configuration. The building includes an Owner’s Suite with multi-level living and entertaining areas, multiple bedrooms, and garden-level space featuring a living room, laundry, utility room, bathroom, bedroom, and office, with separate egress through a public room from the garden level. The income suite offers a flexible 1.5-bedroom layout with a functional kitchen, bright living area, and an independent private entry aimed at resident privacy.
The property is next to Kennicott Park, with park views from the building. A legal property easement provides a guaranteed side-yard buffer that can be used for outdoor space and includes an emphasis on accessibility and natural light on the west side. Separate metered electric utilities are in place, while the shared radiator system and gas support efficient day-to-day operations.
Designed for an owner-occupant or investor, the layout provides separate living space for each unit with independent entry for the income suite. With multi-level functionality, dedicated outdoor space via the easement, and utility metering that can help simplify management, the property fits buyers seeking a residential income asset in the Kenwood area close to park amenities and established transportation access.
The property is next to Kennicott Park, with park views from the building. A legal property easement provides a guaranteed side-yard buffer that can be used for outdoor space and includes an emphasis on accessibility and natural light on the west side. Separate metered electric utilities are in place, while the shared radiator system and gas support efficient day-to-day operations.
Designed for an owner-occupant or investor, the layout provides separate living space for each unit with independent entry for the income suite. With multi-level functionality, dedicated outdoor space via the easement, and utility metering that can help simplify management, the property fits buyers seeking a residential income asset in the Kenwood area close to park amenities and established transportation access.
Key Highlights
- Townhouse‑style duplex with 2 units and a vertical layout (multi‑level living).
- 4 total baths, 5 total bedrooms, with 1.5‑bedroom income suite design for flexible living/office use.
- Dedicated property easement with guaranteed side‑yard buffer and private access for added outdoor flexibility.
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
$55,010
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
8.46%
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%
$1,100,200
$1.1M
Cap Rate 7%
$785,857
$785.9K
Cap Rate 9%
$611,222
$611.2K
Market Conditions
NOI Build-Up for 3,300 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
$83.2K $25.20/SF
− Vacancy
−$4.6K −$1.39/SF
EGI
$78.6K $23.81/SF
− OpEx
−$23.6K −$7.14/SF
NOI
$55.0K $16.67/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,100,200
Cap Rate 7%
$785,857
Cap Rate 9%
$611,222
Alternative Uses
Best Use
Multifamily LT 5
$785.9K
$687.6K – $916.8K
NOI $55,010 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$722.7K
$632.3K – $843.1K
NOI $50,586 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,916 @ 7.0% cap · market cap 16.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,142
Businesses Nearby
Explore this area
Business Placement
Demographics for 60653, IL
33,146
Population
18,279
Households
1.8
Avg Household Size
37
Median Age
38%
College-Educated
90%
High-School Grad
2.4 sq mi
ZIP Area
13,811
Density / Sq Mi
$39,565
Median Household Income
$49,335
Median Earnings
$856
Median Rent
$347,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two independent units, separate utility metering, and a dedicated side-yard easement for added outdoor flexibility.
Where is this duplex located?
The property is located at 1132 E 44th Street Chicago Chicago, IL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Townhouse‑style duplex with 2 units and a vertical layout (multi‑level living).; 4 total baths, 5 total bedrooms, with 1.5‑bedroom income suite design for flexible living/office use.; Dedicated property easement with guaranteed side‑yard buffer and private access for added outdoor flexibility.
