Duplex-Up Residential Income
1605 N Oakley Avenue Unit 3S, Chicago, IL 60647
For Sale
$650,000
The top-floor home combines two living levels with private outdoor areas and an in-unit washer and dryer.
Property Size1,600 SF
Price / SF$406.25
Days on Market40
Property Features for 1605 N Oakley Avenue Unit 3S
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Road Access
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
HOA Fee
Taxes and HOA fees
Annual Taxes
Amenities
private balconies
private rooftop space
in-unit laundry
Building Details
Building Size
Year Built
Listing Agency:
Compass
(773) 798-9170
Listed By:
Jonathan Self
(312) 733-7201
Source:
Purveyproperties
Added: Sep 30
Changed: Nov 5
Last Checked: Nov 7 at 9:39AM
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 Compass
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Investment Insights
Based on property information with market context.
Set on the top floor of a boutique building, this duplex-up residence has 2 bedrooms and 2.5 bathrooms across two levels connected by an interior staircase. The home has hardwood flooring, a stainless steel and quartz kitchen, a primary bathroom with dual vanities, and in-unit laundry. Southern light reaches the primary exposure, and the unit has two balconies plus designated private rooftop space. One exterior parking space is included.
The property is on tree-lined Oakley Avenue in Wicker Park, minutes from the Blue Line and the 606 Trail. Built in 2008, the home offers private outdoor space at both balcony and rooftop level.
The property is on tree-lined Oakley Avenue in Wicker Park, minutes from the Blue Line and the 606 Trail. Built in 2008, the home offers private outdoor space at both balcony and rooftop level.
Key Highlights
- Top‑floor duplex‑up layout with 2 bedrooms and 2.5 bathrooms
- Two balconies and designated private rooftop space
- Dual exposures, with southern light at the primary exposure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,527
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$490,540
$490.5K
Cap Rate 7%
$350,386
$350.4K
Cap Rate 9%
$272,522
$272.5K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$47.0K $29.40/SF
− Vacancy
−$2.4K −$1.53/SF
EGI
$44.6K $27.87/SF
− OpEx
−$20.1K −$12.54/SF
NOI
$24.5K $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%
$490,540
Cap Rate 7%
$350,386
Cap Rate 9%
$272,522
Alternative Uses
Best Use
Apartment 5plus
$350.4K
$306.6K – $408.8K
NOI $24,527 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$754.4K
$660.1K – $880.1K
NOI $52,808 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,998
Businesses Nearby
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Business Placement
Demographics for 60647, IL
85,631
Population
41,975
Households
2
Avg Household Size
33
Median Age
61%
College-Educated
92%
High-School Grad
4.0 sq mi
ZIP Area
21,408
Density / Sq Mi
$102,851
Median Household Income
$65,776
Median Earnings
$1,714
Median Rent
$557,300
Median Home Value
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Market
Properties on Market for Residential income properties in Chicago
Frequently Asked Questions
What type of property is this?
Residential income property - The top-floor home combines two living levels with private outdoor areas and an in-unit washer and dryer.
Where is this residential income property located?
The property is located at 1605 N Oakley Avenue Unit 3S Chicago, IL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Top‑floor duplex‑up layout with 2 bedrooms and 2.5 bathrooms; Two balconies and designated private rooftop space; Dual exposures, with southern light at the primary exposure
