2-Bedroom Condo with
For Sale
$575,000
1521 S Indiana Avenue Unit J, Chicago, IL 60605
A remodeled kitchen and open living-dining area connect to a private gated garden.
Property Size1,650 SF
Price / SF$348.48
Days on Market70
Property Features for 1521 S Indiana Avenue Unit J
General Information
Standard status
Active
Size
1,650 SF
Total Parking Spaces
1
Property subtype
Condo,Condo-Duplex,Townhouse-2 Story
Site & Location
Neighborhood
South Loop
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$9,937
Amenities
gated complex
Building Details
Building Size
1,650 SF
Year Built
1996
Listing Agency:
@properties Christie's International Real Estate
Listed By:
Joy Residential
(312) 607-8010
Source:
Joy-residential
Added: Aug 19
Changed: Oct 26
Last Checked: Oct 26 at 2:48PM
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 @properties Christie's International Real Estate
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Investment Insights
Based on property information with market context.
This 1,650-square-foot, two-bedroom, two-and-a-half-bath condo was built in 1996 and is arranged across two levels. Hardwood floors run throughout, with recessed lighting in the kitchen and living-dining area. The renovated kitchen features soft-close cabinetry, quartz counters, a tile backsplash, peninsula seating, and stainless steel appliances. A gas fireplace anchors the main living space, which opens to a private gated garden. The upper floor includes a primary suite with a walk-in closet and a remodeled bath with a soaking tub, walk-in shower, and double vanity. A second bedroom, additional bath, laundry closet, and attached one-car garage complete the layout.
The property is in Chicago’s South Loop, next to Mark Twain Park and near the lakefront trail, Museum Campus, shops, restaurants, and everyday conveniences.
The property is in Chicago’s South Loop, next to Mark Twain Park and near the lakefront trail, Museum Campus, shops, restaurants, and everyday conveniences.
Key Highlights
- Two bedrooms and 2.5 bathrooms across 1,650 square feet
- Renovated kitchen with quartz counters, soft‑close cabinets, peninsula seating, and stainless steel appliances
- Living area features a gas fireplace and doors to a private gated garden
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,293
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,860
$505.9K
Cap Rate 7%
$361,329
$361.3K
Cap Rate 9%
$281,033
$281.0K
Market Conditions
NOI Build-Up for 1,650 SF
Gross rent
$48.5K $29.40/SF
− Vacancy
−$2.5K −$1.53/SF
EGI
$46.0K $27.87/SF
− OpEx
−$20.7K −$12.54/SF
NOI
$25.3K $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%
$505,860
Cap Rate 7%
$361,329
Cap Rate 9%
$281,033
Alternative Uses
Best Use
Apartment 5plus
$361.3K
$316.2K – $421.6K
NOI $25,293 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$778.0K
$680.7K – $907.6K
NOI $54,458 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,044
Businesses Nearby
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Business Placement
Demographics for 60605, IL
34,071
Population
20,478
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
24,336
Density / Sq Mi
$118,403
Median Household Income
$82,091
Median Earnings
$2,402
Median Rent
$495,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A remodeled kitchen and open living-dining area connect to a private gated garden.
Where is this residential income property located?
The property is located at 1521 S Indiana Avenue Unit J Chicago, IL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two bedrooms and 2.5 bathrooms across 1,650 square feet; Renovated kitchen with quartz counters, soft‑close cabinets, peninsula seating, and stainless steel appliances; Living area features a gas fireplace and doors to a private gated garden
