Three-Bedroom Residential Income
New
For Sale
$995,000
1370 W WALTON Street Unit 1E, Chicago, IL 60642
A 2019-built duplex combines private outdoor areas with garage parking and in-unit laundry.
Property Size3,100 SF
Price / SF$320.97
Days on Market4
Property Features for 1370 W WALTON Street Unit 1E
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Condo,Condo-Duplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$17,528
Amenities
hardwood floors
in-unit laundry
garage parking
covered balconies
private terrace
roof deck
Building Details
Building Size
3,100 SF
Year Built
2019
Listing Agency:
Compass
Listed By:
Lisa Blume · License #3605155
(312) 953-5176
Source:
Harkinsandassociates
Added: Sep 29
Changed: Oct 2
Last Checked: Oct 2 at 2:16AM
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 3,100-square-foot duplex, built in 2019, offers an open-plan layout with hardwood floors and a kitchen featuring custom cabinetry, quartz countertops, and high-end appliances. The residence has three bedrooms, including a primary suite with two walk-in closets and a bath with a soaking tub and separate shower. In-unit laundry and garage parking are included.
Outdoor space includes covered balconies at both the front and rear, a private terrace, and a roof deck above the garage. The property is located at 1370 W Walton Street in Chicago.
Outdoor space includes covered balconies at both the front and rear, a private terrace, and a roof deck above the garage. The property is located at 1370 W Walton Street in Chicago.
Key Highlights
- 3,100‑square‑foot duplex with an open‑plan layout
- Built in 2019
- Three bedrooms; primary suite includes two walk‑in closets
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
$47,520
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
4.78%
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%
$950,400
$950.4K
Cap Rate 7%
$678,857
$678.9K
Cap Rate 9%
$528,000
$528.0K
Market Conditions
NOI Build-Up for 3,100 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
$91.1K $29.40/SF
− Vacancy
−$4.7K −$1.53/SF
EGI
$86.4K $27.87/SF
− OpEx
−$38.9K −$12.54/SF
NOI
$47.5K $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%
$950,400
Cap Rate 7%
$678,857
Cap Rate 9%
$528,000
Alternative Uses
Best Use
Apartment 5plus
$678.9K
$594.0K – $792.0K
NOI $47,520 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,315 @ 7.0% cap · market cap 10.28%
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
3,877
Businesses Nearby
Explore this area
Business Placement
Demographics for 60642, IL
21,687
Population
12,144
Households
1.8
Avg Household Size
33
Median Age
78%
College-Educated
97%
High-School Grad
1.7 sq mi
ZIP Area
12,757
Density / Sq Mi
$141,179
Median Household Income
$90,885
Median Earnings
$2,216
Median Rent
$604,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - A 2019-built duplex combines private outdoor areas with garage parking and in-unit laundry.
Where is this residential income property located?
The property is located at 1370 W WALTON Street Unit 1E Chicago, IL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 3,100‑square‑foot duplex with an open‑plan layout; Built in 2019; Three bedrooms; primary suite includes two walk‑in closets
