Two-Unit Duplex with Fenced
New
For Sale
$599,000
1408 N Central Park Avenue, Chicago, IL 60651
Two separate apartments offer three- and four-bedroom layouts, with a detached two-car garage and additional fenced outdoor space.
Property Size2,694 SF
Price / SF$222.35
Days on Market4
Property Features for 1408 N Central Park Avenue
General Information
Standard status
Active
Size
2,694 SF
Total Parking Spaces
2
Property subtype
Two to Four Units
Zoning
MULTI
Site & Location
Neighborhood
Humboldt Park
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 4BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,548
Amenities
2
7
Lake Michigan
24X125
No
Garage Door Opener,Yes,Garage Owned,Detached,Garage
Concrete Perimeter
Listing Agency:
(708) 787-2808
Listed By:
Moiz Malik
Source:
Kawashgroup
Added: Oct 29
Last Checked: Oct 28 at 12:13PM
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 Moiz Malik
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Investment Insights
Based on property information with market context.
This two-unit residential property contains a three-bedroom, one-bathroom apartment and a four-bedroom, one-bathroom apartment. A two-car garage serves the property, and an adjacent fenced yard is included. The neighboring lot carries a separate PIN, providing a distinct parcel configuration.
Schools, parks, grocery stores, restaurants, and everyday shopping are nearby. Public transportation is available for commuting, with downtown Chicago approximately 20 minutes away and The 606 Trail about 10 minutes away. The property is offered as-is.
Schools, parks, grocery stores, restaurants, and everyday shopping are nearby. Public transportation is available for commuting, with downtown Chicago approximately 20 minutes away and The 606 Trail about 10 minutes away. The property is offered as-is.
Key Highlights
- Two apartments: one with 3 bedrooms and 1 bathroom, the other with 4 bedrooms and 1 bathroom
- Two‑car garage
- Adjacent fenced yard space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,908
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$898,160
$898.2K
Cap Rate 7%
$641,543
$641.5K
Cap Rate 9%
$498,978
$499.0K
Market Conditions
NOI Build-Up for 2,694 SF
Gross rent
$67.9K $25.20/SF
− Vacancy
−$3.7K −$1.39/SF
EGI
$64.2K $23.81/SF
− OpEx
−$19.2K −$7.14/SF
NOI
$44.9K $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%
$898,160
Cap Rate 7%
$641,543
Cap Rate 9%
$498,978
Alternative Uses
Best Use
Multifamily LT 5
$641.5K
$561.4K – $748.5K
NOI $44,908 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$590.0K
$516.2K – $688.3K
NOI $41,297 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,915 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,429
Businesses Nearby
Explore this area
Business Placement
Demographics for 60651, IL
62,819
Population
22,885
Households
2.7
Avg Household Size
36
Median Age
16%
College-Educated
77%
High-School Grad
3.5 sq mi
ZIP Area
17,948
Density / Sq Mi
$52,963
Median Household Income
$33,783
Median Earnings
$1,186
Median Rent
$262,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments offer three- and four-bedroom layouts, with a detached two-car garage and additional fenced outdoor space.
Where is this duplex located?
The property is located at 1408 N Central Park Avenue 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: Two apartments: one with 3 bedrooms and 1 bathroom, the other with 4 bedrooms and 1 bathroom; Two‑car garage; Adjacent fenced yard space
