Two-Bedroom Residential Income
For Sale
$574,900
1619 W Hollywood Avenue #3, Chicago, IL 60660
Top-floor residence with vaulted ceilings, skylights, in-unit laundry, and a private deck.
Property Size1,150 SF
Days on Market10
Property Features for 1619 W Hollywood Avenue #3
General Information
Standard status
Active
Size
1,150 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
in unit laundry
private deck
vaulted ceilings
skylights
stainless steel appliances
wet-bar sink
hardwood floors
Building Details
Building Size
1,150 SF
Year Built
1995
Listing Agency:
Century 21 Integra
Listed By:
Seina Fatoorehchi · License #471021063
(224) 628-0148
Source:
Chicago-home-listings.kw
Added: Aug 27
Changed: Aug 30
Last Checked: Sep 4 at 2:13AM
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 Century 21 Integra
Investment Insights
Based on property information with market context.
This top-floor residential income property offers a two-bedroom, two-full-bath layout with an open interior, vaulted ceilings, skylights, and hardwood floors. The kitchen includes stainless steel appliances, ample storage, and a wet-bar sink integrated into the island. Additional features include in-unit laundry, a primary suite with an en-suite bathroom and double vanity, a private deck, and one included garage space. The furnace and air conditioning system are brand new.
The property is positioned near multiple parks, including a newly built park directly across the street. L train and Metra train stops, bus service, restaurants, bars, shopping, and the beach are also nearby. Built in 1995, the residence combines a defined two-bedroom configuration with updated mechanical systems and private outdoor space.
The property is positioned near multiple parks, including a newly built park directly across the street. L train and Metra train stops, bus service, restaurants, bars, shopping, and the beach are also nearby. Built in 1995, the residence combines a defined two-bedroom configuration with updated mechanical systems and private outdoor space.
Key Highlights
- Two‑bedroom, two‑full‑bath residence with an open floor plan
- Top‑floor setting with vaulted ceilings and skylights
- Kitchen with stainless steel appliances, storage, and wet‑bar sink
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
$17,629
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
3.07%
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%
$352,580
$352.6K
Cap Rate 7%
$251,843
$251.8K
Cap Rate 9%
$195,878
$195.9K
Market Conditions
NOI Build-Up for 1,150 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
$33.8K $29.40/SF
− Vacancy
−$1.8K −$1.53/SF
EGI
$32.1K $27.87/SF
− OpEx
−$14.4K −$12.54/SF
NOI
$17.6K $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%
$352,580
Cap Rate 7%
$251,843
Cap Rate 9%
$195,878
Alternative Uses
Best Use
Apartment 5plus
$251.8K
$220.4K – $293.8K
NOI $17,629 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$542.2K
$474.5K – $632.6K
NOI $37,956 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,353
Businesses Nearby
Explore this area
Business Placement
Demographics for 60660, IL
42,534
Population
23,508
Households
1.8
Avg Household Size
38
Median Age
57%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
32,718
Density / Sq Mi
$66,206
Median Household Income
$46,871
Median Earnings
$1,286
Median Rent
$287,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor residence with vaulted ceilings, skylights, in-unit laundry, and a private deck.
Where is this residential income property located?
The property is located at 1619 W Hollywood Avenue #3 Chicago, IL.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: Two‑bedroom, two‑full‑bath residence with an open floor plan; Top‑floor setting with vaulted ceilings and skylights; Kitchen with stainless steel appliances, storage, and wet‑bar sink
