Duplex Residential Income
For Sale
$999,999
1459 W Superior Street Unit 1E, Chicago, IL 60642
Two-level duplex with custom interiors, private outdoor space, and an attached heated garage.
Property Size2,800 SF
Price / SF$357.14
Days on Market12
Property Features for 1459 W Superior Street Unit 1E
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Condo-Duplex
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$16,378
Amenities
front porch
gas fireplace
custom built-ins
chef's kitchen with Wolf, Sub-Zero, and Bosch appliances
LED-lit cabinetry
quartz backsplash
waterfall Calacatta quartz island
rear porch
garage rooftop deck
primary suite with walk-in closet and spa bath
radiant heat
attached heated garage
in-unit washer/dryer
whole-home speaker wiring
custom finishes
Building Details
Building Size
2,800 SF
Year Built
2019
Listing Agency:
Berkshire Hathaway HomeServices Chicago
(312) 642-1400
Listed By:
Danielle Dowell · License #475125415
Source:
Dawnmckennagroup
Added: Aug 20
Changed: Aug 31
Last Checked: Aug 30 at 10:05PM
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.
This 2019-built duplex residential income property provides 2,800 square feet with four bedrooms and three full bathrooms across two levels. The main floor combines living and dining areas with white oak flooring, European windows, a family room with gas fireplace, and a custom Copatlife kitchen equipped with Wolf, Sub-Zero, and Bosch appliances. The lower level includes three bedrooms and two full baths, highlighted by a primary suite with a walk-in closet, double vanity, freestanding tub, and oversized shower with multiple fixtures.
Outdoor amenities include a front porch, rear porch, and an 18' x 24' rooftop deck above the private garage. The attached garage is heated and directly accessible from the residence. Additional features include radiant heat, in-unit washer/dryer, whole-home speaker wiring, electric window blinds, and custom built-ins. The property is located at 1459 W Superior Street in Chicago’s Noble Square neighborhood, with access to dining, coffee shops, nightlife, neighborhood services, the West Loop, River West, Wicker Park, and downtown.
Outdoor amenities include a front porch, rear porch, and an 18' x 24' rooftop deck above the private garage. The attached garage is heated and directly accessible from the residence. Additional features include radiant heat, in-unit washer/dryer, whole-home speaker wiring, electric window blinds, and custom built-ins. The property is located at 1459 W Superior Street in Chicago’s Noble Square neighborhood, with access to dining, coffee shops, nightlife, neighborhood services, the West Loop, River West, Wicker Park, and downtown.
Key Highlights
- 2019‑built duplex with 2,800 square feet, 4 bedrooms, and 3 full bathrooms
- Custom Copatlife kitchen with Wolf, Sub‑Zero, and Bosch appliances
- 18' x 24' private rooftop deck above the garage
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
$42,922
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
4.29%
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%
$858,440
$858.4K
Cap Rate 7%
$613,171
$613.2K
Cap Rate 9%
$476,911
$476.9K
Market Conditions
NOI Build-Up for 2,800 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
$82.3K $29.40/SF
− Vacancy
−$4.3K −$1.53/SF
EGI
$78.0K $27.87/SF
− OpEx
−$35.1K −$12.54/SF
NOI
$42.9K $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%
$858,440
Cap Rate 7%
$613,171
Cap Rate 9%
$476,911
Alternative Uses
Best Use
Apartment 5plus
$613.2K
$536.5K – $715.4K
NOI $42,922 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,413 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,263
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 - Two-level duplex with custom interiors, private outdoor space, and an attached heated garage.
Where is this residential income property located?
The property is located at 1459 W Superior Street Unit 1E Chicago, IL.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 2019‑built duplex with 2,800 square feet, 4 bedrooms, and 3 full bathrooms; Custom Copatlife kitchen with Wolf, Sub‑Zero, and Bosch appliances; 18' x 24' private rooftop deck above the garage
