Brick Duplex with Private
New
For Sale
$1,200,000
1314 W Carmen Ave, Chicago, IL 60640
Two spacious apartments combine distinct layouts with a remodeled first-floor kitchen and preserved architectural details.
Property Size3,400 SF
Lot Size0.14 Acres
Price / SF$352.94
Days on Market2
Property Features for 1314 W Carmen Ave
General Information
Standard status
Active
Size
3,400 SF
Lot size
0.14 Acres
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
private balconies
backyard
bluestone patio
radiant floor heating
in-ceiling speakers
laundry room
dog wash sink
wired network
security cameras
Building Details
Year Built
1906
Buildings
1
Stories
2
Construction
brick
Listing Agency:
Exit Strategy Realty
Listed By:
Northwest Suburban Real Estate
(815) 893-2410
Source:
Nwsrealestate
Added: Oct 7
Last Checked: Oct 7 at 11:20AM
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 Exit Strategy Realty
Investment Insights
Based on property information with market context.
This 1906 brick duplex contains two apartments with living, family, and dining rooms, plus private balconies. The property offers 3,400 square feet of finished living space on a 40-by-150-foot lot. The first-floor apartment connects internally to the full basement, which includes storage, a workshop area, laundry, and upgraded electrical systems. Renovations include a remodeled kitchen and bathroom, while original woodwork and built-ins remain. The second-floor unit has a family room beside the kitchen and an original butler’s pantry.
The property is at 1314 W Carmen Ave in Chicago’s Andersonville area, a couple of blocks from Clark Street shops, restaurants, and bars. The Red Line is also a couple of blocks away, with the lakefront and Lake Shore Drive a short distance from the property.
The property is at 1314 W Carmen Ave in Chicago’s Andersonville area, a couple of blocks from Clark Street shops, restaurants, and bars. The Red Line is also a couple of blocks away, with the lakefront and Lake Shore Drive a short distance from the property.
Key Highlights
- Two apartments with living, family, and dining rooms, plus private balconies
- 3,400 square feet of finished living space on a 40‑by‑150‑foot lot
- First‑floor apartment connects to the full basement, with storage, workshop space, and laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,677
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,133,540
$1.1M
Cap Rate 7%
$809,671
$809.7K
Cap Rate 9%
$629,744
$629.7K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$85.7K $25.20/SF
− Vacancy
−$4.7K −$1.39/SF
EGI
$81.0K $23.81/SF
− OpEx
−$24.3K −$7.14/SF
NOI
$56.7K $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 Rate 5%
$1,133,540
Cap Rate 7%
$809,671
Cap Rate 9%
$629,744
Alternative Uses
Best Use
Multifamily LT 5
$809.7K
$708.5K – $944.6K
NOI $56,677 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$744.6K
$651.5K – $868.7K
NOI $52,119 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,216 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,402
Businesses Nearby
Explore this area
Business Placement
Demographics for 60640, IL
65,941
Population
40,850
Households
1.6
Avg Household Size
38
Median Age
63%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
27,475
Density / Sq Mi
$71,030
Median Household Income
$59,264
Median Earnings
$1,374
Median Rent
$363,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two spacious apartments combine distinct layouts with a remodeled first-floor kitchen and preserved architectural details.
Where is this duplex located?
The property is located at 1314 W Carmen Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two apartments with living, family, and dining rooms, plus private balconies; 3,400 square feet of finished living space on a 40‑by‑150‑foot lot; First‑floor apartment connects to the full basement, with storage, workshop space, and laundry
