Residential Income Property with
For Sale
$419,500
1508 W Cortez Street Unit 2, Chicago, IL 60642
Duplex-down residence with two bedrooms, two baths, private outdoor space, and one included parking space.
Property Size1,550 SF
Price / SF$270.65
Days on Market67
Property Features for 1508 W Cortez Street Unit 2
General Information
Standard status
Active
Size
1,550 SF
Total Parking Spaces
1
Property subtype
Condo,Condo-Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,283
Amenities
gas fireplace
private terrace
laundry room
Building Details
Building Size
1,550 SF
Year Built
1920
Construction
brick masonry
Listing Agency:
Real Broker, LLC
Listed By:
Dustin Queen · License #475161658
Source:
Harkinsandassociates
Added: Aug 5
Changed: Sep 26
Last Checked: Oct 10 at 1:20AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This duplex-down residential income property occupies a solid brick masonry building constructed in 1920. The main level combines living, dining, and kitchen areas in an open arrangement, with oversized windows, exposed brick, hardwood flooring, high ceilings, and a gas fireplace. The kitchen includes 42-inch cabinetry, granite counters, stainless steel appliances, and a breakfast bar. Two bedrooms are located downstairs, including a primary suite with an en-suite bath, double vanity, and Jacuzzi tub. Marble bathrooms, a dedicated laundry room, substantial storage, and a large private terrace add to the configuration. The first floor has been freshly painted, and one parking space is included.
The property is near East Village, Noble Square, and Wicker Park, with access to the Blue Line, expressways, parks, shopping, restaurants, and nightlife. The address is 1508 W Cortez Street Unit 2 in Chicago, Illinois.
The property is near East Village, Noble Square, and Wicker Park, with access to the Blue Line, expressways, parks, shopping, restaurants, and nightlife. The address is 1508 W Cortez Street Unit 2 in Chicago, Illinois.
Key Highlights
- 1,550 SF duplex‑down residence in a solid brick masonry building
- Two bedrooms and two baths, with both bedrooms positioned on the lower level
- Main floor features oversized windows, exposed brick, hardwood floors, and a gas fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,760
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,200
$475.2K
Cap Rate 7%
$339,429
$339.4K
Cap Rate 9%
$264,000
$264.0K
Market Conditions
NOI Build-Up for 1,550 SF
Gross rent
$45.6K $29.40/SF
− Vacancy
−$2.4K −$1.53/SF
EGI
$43.2K $27.87/SF
− OpEx
−$19.4K −$12.54/SF
NOI
$23.8K $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 Rate 5%
$475,200
Cap Rate 7%
$339,429
Cap Rate 9%
$264,000
Alternative Uses
Best Use
Apartment 5plus
$339.4K
$297.0K – $396.0K
NOI $23,760 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$730.8K
$639.5K – $852.6K
NOI $51,157 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,963
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Duplex-down residence with two bedrooms, two baths, private outdoor space, and one included parking space.
Where is this residential income property located?
The property is located at 1508 W Cortez Street Unit 2 Chicago, IL.
What is the asking price?
The asking price for this property is $419,500.
What are key features of this property?
This property features: 1,550 SF duplex‑down residence in a solid brick masonry building; Two bedrooms and two baths, with both bedrooms positioned on the lower level; Main floor features oversized windows, exposed brick, hardwood floors, and a gas fireplace
