New-Construction Duplex with Garden
New
For Sale
$549,999
1433 S Trumbull Avenue, Chicago, IL 60623
Two independent residences offer separate kitchens, laundry, entrances, and utility meters for flexible occupancy.
Property Size2,900 SF
Price / SF$189.65
Days on Market6
Property Features for 1433 S Trumbull Avenue
General Information
Standard status
Active
Size
2,900 SF
Total Parking Spaces
2
Property subtype
MULTI_FAMILY
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3BR/2.5BA, 2BR/2BA
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Construction
brick-and-Hardie
Listing Agency:
Berkshire Hathaway HomeServices Chicago
(312) 642-1400
Listed By:
Danielle Dowell · License #475125415
Source:
Dawnmckennagroup
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 1:05PM
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 Berkshire Hathaway HomeServices Chicago
Investment Insights
Based on property information with market context.
Scheduled for completion in October 2026, this new-construction duplex combines a two-level primary residence with a separate garden apartment. The approximately 1,900-square-foot upper home includes three bedrooms, 2.5 baths, an open living and dining area, a contemporary kitchen with quartz counters and GE stainless steel appliances, a rear deck, and second-floor laundry. The approximately 1,000-square-foot lower residence provides two bedrooms, two full baths, 10-foot ceilings, a private entry, full kitchen, and in-unit laundry. A two-car garage and fenced backyard add practical outdoor and storage amenities.
The property is located in North Lawndale near Douglass Park, the Garfield Park Conservatory, and La Catedral Cafe. Transit and regional connections include the Kedzie Pink Line station, CTA bus service, and nearby I-290, with access toward the West Loop and Downtown Chicago. The residences have separate utility meters, supporting independent operation and flexible rental or guest arrangements.
The property is located in North Lawndale near Douglass Park, the Garfield Park Conservatory, and La Catedral Cafe. Transit and regional connections include the Kedzie Pink Line station, CTA bus service, and nearby I-290, with access toward the West Loop and Downtown Chicago. The residences have separate utility meters, supporting independent operation and flexible rental or guest arrangements.
Key Highlights
- New construction scheduled for October 2026
- Approximately 2,900 square feet across two residences
- Primary duplex‑up offers 3 bedrooms and 2.5 baths
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
$48,342
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
8.79%
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%
$966,840
$966.8K
Cap Rate 7%
$690,600
$690.6K
Cap Rate 9%
$537,133
$537.1K
Market Conditions
NOI Build-Up for 2,900 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
$73.1K $25.20/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$69.1K $23.81/SF
− OpEx
−$20.7K −$7.14/SF
NOI
$48.3K $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%
$966,840
Cap Rate 7%
$690,600
Cap Rate 9%
$537,133
Alternative Uses
Best Use
Multifamily LT 5
$690.6K
$604.3K – $805.7K
NOI $48,342 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$635.1K
$555.7K – $740.9K
NOI $44,455 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,714 @ 7.0% cap · market cap 17.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
Explore this area
Business Placement
Demographics for 60623, IL
87,649
Population
31,300
Households
2.8
Avg Household Size
32
Median Age
14%
College-Educated
69%
High-School Grad
5.4 sq mi
ZIP Area
16,231
Density / Sq Mi
$44,040
Median Household Income
$32,642
Median Earnings
$1,054
Median Rent
$221,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two independent residences offer separate kitchens, laundry, entrances, and utility meters for flexible occupancy.
Where is this duplex located?
The property is located at 1433 S Trumbull Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $549,999.
What are key features of this property?
This property features: New construction scheduled for October 2026; Approximately 2,900 square feet across two residences; Primary duplex‑up offers 3 bedrooms and 2.5 baths
