Full-Floor Residential Income
For Sale
$1,475,000
1260 N Astor Street #7, Chicago, IL 60610
Historic cooperative residence with three en suite bedrooms, dual primary baths, and preserved architectural detailing.
Property Size4,500 SF
Price / SF$327.78
Days on Market18
Property Features for 1260 N Astor Street #7
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
two fireplaces
library
Christopher Peacock kitchen
butler's pantry
breakfast room
in-unit laundry
secondary laundry room
private storage room
central air conditioning
Zoned
Radiator(s)
Central Air
Steam
Double Oven
Range
Microwave
Dishwasher
High End Refrigerator
Washer
Dryer
Stainless Steel Appliance(s)
Wine Refrigerator
Range Hood
Building Details
Year Built
1930
Listing Agency:
Engel & Voelkers Chicago
Listed By:
Jennifer Ames · License #475150488
(773) 908-3632
Source:
Kw
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 26 at 1:47PM
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 Engel & Voelkers Chicago
Investment Insights
Based on property information with market context.
Located at 1260 N Astor Street #7, this 4,500-square-foot full-floor cooperative occupies a boutique building completed in 1930. The residence features 10.5-foot ceilings, park, lake, and skyline views, a formal entry, large living and dining rooms, and three en suite bedrooms. Two additional maids’ rooms can serve as offices, guest rooms, or fitness areas. The primary suite includes two baths and a paneled dressing room.
Interior details include moldings, paneled walls, herringbone flooring, two fireplaces, a library with Canadian spruce paneling and a concealed passage, and Versailles parquet in the primary suite. A Christopher Peacock kitchen connects with the original butler’s pantry and breakfast room. New SpacePak central air, in-unit laundry, a secondary laundry room, and private storage add practical utility. Nearby conveniences include garage parking, the Latin School of Chicago, Goudy Park, the Division Street Farmers Market, restaurants, and lakefront recreation.
Interior details include moldings, paneled walls, herringbone flooring, two fireplaces, a library with Canadian spruce paneling and a concealed passage, and Versailles parquet in the primary suite. A Christopher Peacock kitchen connects with the original butler’s pantry and breakfast room. New SpacePak central air, in-unit laundry, a secondary laundry room, and private storage add practical utility. Nearby conveniences include garage parking, the Latin School of Chicago, Goudy Park, the Division Street Farmers Market, restaurants, and lakefront recreation.
Key Highlights
- 4,500‑square‑foot full‑floor cooperative at 1260 N Astor Street #7
- 10.5‑foot ceilings with park, lake, and city skyline views
- Three large en suite bedrooms plus two additional maids’ rooms
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
$68,981
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
4.68%
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%
$1,379,620
$1.4M
Cap Rate 7%
$985,443
$985.4K
Cap Rate 9%
$766,456
$766.5K
Market Conditions
NOI Build-Up for 4,500 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
$132.3K $29.40/SF
− Vacancy
−$6.9K −$1.53/SF
EGI
$125.4K $27.87/SF
− OpEx
−$56.4K −$12.54/SF
NOI
$69.0K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /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%
$1,379,620
Cap Rate 7%
$985,443
Cap Rate 9%
$766,456
Alternative Uses
Best Use
Apartment 5plus
$985.4K
$862.3K – $1.15M
NOI $68,981 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,522 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
7,176
Businesses Nearby
Explore this area
Business Placement
Demographics for 60610, IL
43,794
Population
30,091
Households
1.5
Avg Household Size
34
Median Age
79%
College-Educated
97%
High-School Grad
1.1 sq mi
ZIP Area
39,813
Density / Sq Mi
$105,649
Median Household Income
$82,934
Median Earnings
$2,029
Median Rent
$543,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Historic cooperative residence with three en suite bedrooms, dual primary baths, and preserved architectural detailing.
Where is this residential income property located?
The property is located at 1260 N Astor Street #7 Chicago, IL.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: 4,500‑square‑foot full‑floor cooperative at 1260 N Astor Street #7; 10.5‑foot ceilings with park, lake, and city skyline views; Three large en suite bedrooms plus two additional maids’ rooms
