Duplex with Detached
New
For Sale
$1,199,000
Pending
1639 W Rascher Avenue, Chicago, IL 60640
The two-unit layout accommodates separate households or an owner-occupant seeking rental income from the second unit.
Property Size2,456 SF
Days on Market2
Property Features for 1639 W Rascher Avenue
General Information
Standard status
Pending
Size
2,456 SF
Property subtype
Two to Four Units
Site & Location
Neighborhood
Andersonville
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,972
Amenities
Finished,Other,Full
Whirlpool
Den,Enclosed Balcony,Enclosed Porch,Recreation Room,Utility Room-2nd Floor,Utility Room-Lower Level
3
6
2
Landscaped
Lake Michigan,Public
34 X 135
No
Intercom,CO Detectors,Ceiling Fan(s),Multiple Water Heaters,Water Heater-Gas
Garage Door Opener,Yes,Detached,Garage
Concrete Perimeter
Building Details
Year Built
1912
Buildings
1
Listing Agency:
Epic Real Estate Group
(630) 401-6210
Listed By:
Alex LaGrone
Source:
Generationhomepro
Added: Oct 31
Last Checked: Oct 31 at 3:07AM
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 Epic Real Estate Group
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Investment Insights
Based on property information with market context.
This Chicago duplex contains approximately 2,456 square feet across two units. Interior features include a den, enclosed balcony, enclosed porch, recreation room, and utility rooms on the second floor and lower level. The property also has a detached garage and was built in 1912. Its 34-by-135-foot lot provides the site dimensions for evaluating the existing residential setup.
The property is on W Rascher Avenue in Andersonville, with restaurants, cafes, shops, boutiques, parks, and community events described in the surrounding neighborhood. The lakefront is also accessible from the area.
The property is on W Rascher Avenue in Andersonville, with restaurants, cafes, shops, boutiques, parks, and community events described in the surrounding neighborhood. The lakefront is also accessible from the area.
Key Highlights
- Two‑unit duplex with approximately 2,456 square feet of living space
- 34 X 135 lot
- Built in 1912
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,941
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,820
$818.8K
Cap Rate 7%
$584,871
$584.9K
Cap Rate 9%
$454,900
$454.9K
Market Conditions
NOI Build-Up for 2,456 SF
Gross rent
$61.9K $25.20/SF
− Vacancy
−$3.4K −$1.39/SF
EGI
$58.5K $23.81/SF
− OpEx
−$17.5K −$7.14/SF
NOI
$40.9K $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 Rate 5%
$818,820
Cap Rate 7%
$584,871
Cap Rate 9%
$454,900
Alternative Uses
Best Use
Multifamily LT 5
$584.9K
$511.8K – $682.4K
NOI $40,941 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$537.8K
$470.6K – $627.5K
NOI $37,648 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,060 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,792
Businesses Nearby
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Business Placement
Demographics for 60640, IL
65,941
Population
40,850
Households
1.6
Avg Household Size
38
Median Age
63%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
27,475
Density / Sq Mi
$71,030
Median Household Income
$59,264
Median Earnings
$1,374
Median Rent
$363,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit layout accommodates separate households or an owner-occupant seeking rental income from the second unit.
Where is this duplex located?
The property is located at 1639 W Rascher Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,456 square feet of living space; 34 X 135 lot; Built in 1912
