New Construction Three-Unit
For Sale
$769,900
1548 South Sawyer Avenue, Chicago, IL 60623
New construction three-unit property with modern finishes, delivery July 2026.
Property Size3,750 SF
Price / SF$205.31
Days on Market166
Property Features for 1548 South Sawyer Avenue
General Information
Standard status
Active
Size
3,750 SF
Total Parking Spaces
3
Property subtype
Two to Four Units / 3 Flat
Taxes and HOA fees
Annual Taxes
$910
Building Details
Year Built
2026
Listing Agency:
Fulton Grace Realty
(312) 286-0427
Listed By:
Lawrence Dunning · License #475164126
(312) 286-0427
Source:
Compass
Added: Mar 12
Changed: Aug 23
Last Checked: Aug 24 at 12:21PM
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 Fulton Grace Realty
Investment Insights
Based on property information with market context.
Scheduled for delivery in July 2026, this newly built three-unit property is intended for owner occupants only. Each unit features 3 bedrooms and 2 full baths. The property offers modern finishes and thoughtful design throughout. The units have open-concept layouts with abundant natural light, in-unit laundry, and stainless steel appliances in every kitchen. A rear parking pad provides off-street parking for residents. The property is located near public transit, parks, and local amenities in a rapidly appreciating area.
Key Highlights
- Newly built (2026) three‑unit property with modern finishes.
- Spacious units each featuring 3 bedrooms and 2 full baths.
- Open‑concept layouts with abundant natural light.
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
$62,512
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
8.12%
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%
$1,250,240
$1.3M
Cap Rate 7%
$893,029
$893.0K
Cap Rate 9%
$694,578
$694.6K
Market Conditions
NOI Build-Up for 3,750 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
$94.5K $25.20/SF
− Vacancy
−$5.2K −$1.39/SF
EGI
$89.3K $23.81/SF
− OpEx
−$26.8K −$7.14/SF
NOI
$62.5K $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%
$1,250,240
Cap Rate 7%
$893,029
Cap Rate 9%
$694,578
Alternative Uses
Best Use
Multifamily LT 5
$893.0K
$781.4K – $1.04M
NOI $62,512 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$821.2K
$718.6K – $958.1K
NOI $57,484 @ 7.0% cap · market cap 7.47%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,768 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,152
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?
Triplex - New construction three-unit property with modern finishes, delivery July 2026.
Where is this triplex located?
The property is located at 1548 South Sawyer Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $769,900.
What are key features of this property?
This property features: Newly built (2026) three‑unit property with modern finishes.; Spacious units each featuring 3 bedrooms and 2 full baths.; Open‑concept layouts with abundant natural light.
