Updated Brick Triplex with
For Sale
$1,780,000
1415 W Augusta Boulevard, Chicago, IL 60642
Residential Income, Chicago, IL
Property Size4,000 SF
Price / SF$445
Days on Market13
Property Features for 1415 W Augusta Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 2, Bathroom 4, Bedroom 4, Bedroom 3, Bedroom 7, Bathroom 1, Bedroom 9, Bedroom 8, Basement, Bathroom 3, Bathroom 5, Bathroom 6, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 1
Parking
3
Parking features
Garage
Basement
Finished, Full
Elementary school district
299
Middle school district
299
High school district
299
Directions
90/94 to Milwaukee exit go west to Ashland from Ashland go south to Augusta go east to property
Subdivision
CHI - West Town
Standard status
Active
APN
17053150180000
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
18925
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Amenities
Central A/C
Stainless Steel Appliances
Granite Countertops
High Ceilings
Building Details
Year built
1879
Building materials
Brick
Listing Agency:
Kale Realty
Listed By:
Kyle Olszewski
(312) 939-5253
Added: Sep 10
Changed: Sep 16
Last Checked: Sep 22 at 12:06AM
MLS# 12755194
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick triplex contains approximately 4,000 square feet with 9 bedrooms and 6 bathrooms across three residential units. The top-floor penthouse is a four-bedroom, three-bath duplex, while the first-floor residence offers two bedrooms and one bathroom. The garden unit includes three bedrooms and two bathrooms. High ceilings are featured in both upper units, and all residences have central A/C. Updated kitchens include stainless steel appliances and granite countertops, with natural gas heating and public sewer service.
The property at 1415 W Augusta Boulevard is in Chicago’s Noble Square area, within walking distance of Wicker Park, Ukrainian Village, restaurants, parks, and CTA access. Three separate covered single-car garage spaces are included, and the property provides access to I-90-94. The building has had no vacancy for 10 years.
The property at 1415 W Augusta Boulevard is in Chicago’s Noble Square area, within walking distance of Wicker Park, Ukrainian Village, restaurants, parks, and CTA access. Three separate covered single-car garage spaces are included, and the property provides access to I-90-94. The building has had no vacancy for 10 years.
Key Highlights
- Three‑unit brick building with approximately 4,000 square feet
- Unit mix includes a 4‑bedroom, 3‑bath duplex, a 2‑bedroom, 1‑bath unit, and a 3‑bedroom, 2‑bath garden unit
- 9 bedrooms and 6 bathrooms across the property
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
$66,679
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
3.75%
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%
$1,333,580
$1.3M
Cap Rate 7%
$952,557
$952.6K
Cap Rate 9%
$740,878
$740.9K
Market Conditions
NOI Build-Up for 4,000 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
$100.8K $25.20/SF
− Vacancy
−$5.5K −$1.39/SF
EGI
$95.3K $23.81/SF
− OpEx
−$28.6K −$7.14/SF
NOI
$66.7K $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 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%
$1,333,580
Cap Rate 7%
$952,557
Cap Rate 9%
$740,878
Alternative Uses
Best Use
Multifamily LT 5
$952.6K
$833.5K – $1.11M
NOI $66,679 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$876.0K
$766.5K – $1.02M
NOI $61,317 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,019 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
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
Check the figures for this property
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?
Triplex - Three-unit building with renovated kitchens, central A/C, high ceilings, and separate covered garage parking.
Where is this triplex located?
The property is located at 1415 W Augusta Boulevard Chicago, IL.
What is the asking price?
The asking price for this property is $1,780,000.
What are key features of this property?
This property features: Three‑unit brick building with approximately 4,000 square feet; Unit mix includes a 4‑bedroom, 3‑bath duplex, a 2‑bedroom, 1‑bath unit, and a 3‑bedroom, 2‑bath garden unit; 9 bedrooms and 6 bathrooms across the property
