Residential Income Property with
For Sale
$599,000
Pending
1321 N BOSWORTH Avenue Unit 1S, Chicago, IL 60622
Duplex residence with flexible bedroom areas, private terraces, and an attached-feeling urban living experience.
Property Size1,573 SF
Days on Market9
Property Features for 1321 N BOSWORTH Avenue Unit 1S
General Information
Standard status
Pending
Size
1,573 SF
Total Parking Spaces
1
Property subtype
Condo-Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/2.1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$12,500
Amenities
gas fireplace
hardwood flooring
in-unit laundry
central air
private terrace
walk-in closet
granite countertops
stainless steel appliances
heated floors
whirlpool tub
French doors
Building Details
Building Size
1,573 SF
Year Built
2006
Listing Agency:
Compass
Listed By:
Cory Green
(847) 416-0446
Source:
Harkinsandassociates
Added: Sep 16
Changed: Sep 23
Last Checked: Sep 22 at 8:44PM
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 Compass
Investment Insights
Based on property information with market context.
This 2006 duplex residential income property offers a three-bedroom, 2.1-bath layout with approximately 1,573 square feet of living area. The main level combines living, dining, and kitchen spaces beneath 10-foot ceilings, while oversized windows, hardwood floors, and a gas fireplace add character. The kitchen includes custom cabinetry, granite counters, a center island, and stainless-steel appliances from Viking, Bosch, and Jenn-Air.
The lower level includes a primary suite with a walk-in closet and private terrace, along with a bath featuring dual vanities, heated flooring, a whirlpool tub, and a separate shower with rain and body sprays. Additional spaces open to a second private terrace and can accommodate bedrooms, guests, or office use. In-unit laundry, central air, storage, and a detached garage parking space are also included. The property is near Wicker Park, Bucktown, Division Street, public transportation, and the expressway.
The lower level includes a primary suite with a walk-in closet and private terrace, along with a bath featuring dual vanities, heated flooring, a whirlpool tub, and a separate shower with rain and body sprays. Additional spaces open to a second private terrace and can accommodate bedrooms, guests, or office use. In-unit laundry, central air, storage, and a detached garage parking space are also included. The property is near Wicker Park, Bucktown, Division Street, public transportation, and the expressway.
Key Highlights
- Three‑bedroom, 2.1‑bath duplex layout
- Approximately 1,573 square feet of living area
- Two private outdoor terraces
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
$24,113
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
4.03%
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%
$482,260
$482.3K
Cap Rate 7%
$344,471
$344.5K
Cap Rate 9%
$267,922
$267.9K
Market Conditions
NOI Build-Up for 1,573 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
$46.2K $29.40/SF
− Vacancy
−$2.4K −$1.53/SF
EGI
$43.8K $27.87/SF
− OpEx
−$19.7K −$12.54/SF
NOI
$24.1K $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%
$482,260
Cap Rate 7%
$344,471
Cap Rate 9%
$267,922
Alternative Uses
Best Use
Apartment 5plus
$344.5K
$301.4K – $401.9K
NOI $24,113 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$741.7K
$649.0K – $865.3K
NOI $51,917 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,645
Businesses Nearby
Explore this area
Business Placement
Demographics for 60622, IL
55,075
Population
27,630
Households
2
Avg Household Size
33
Median Age
73%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
22,030
Density / Sq Mi
$124,852
Median Household Income
$76,180
Median Earnings
$1,932
Median Rent
$622,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Duplex residence with flexible bedroom areas, private terraces, and an attached-feeling urban living experience.
Where is this residential income property located?
The property is located at 1321 N BOSWORTH Avenue Unit 1S Chicago, IL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three‑bedroom, 2.1‑bath duplex layout; Approximately 1,573 square feet of living area; Two private outdoor terraces
