West Loop Loft
For Sale
$275,000
1645 W Ogden Avenue #417, Chicago, IL 60612
West Loop 2 bed, 2 bath condo with parking.
Property Size1,086 SF
Price / SF$253.22
Days on Market515
Property Features for 1645 W Ogden Avenue #417
General Information
Standard status
Active
Size
1,086 SF
Property subtype
Condominium
Site & Location
Neighborhood
Near West Side
Amenities
Forced Air
Central Air
Gas
Deck
Building Details
Building Size
1,086 SF
Listing Agency:
RE/MAX Premier
Listed By:
Mera Kordic · License #475135420
(312) 475-1717
Source:
Kw
Added: Jun 4, 2025
Changed: Oct 31
Last Checked: Oct 30 at 8:20PM
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 RE/MAX Premier
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Investment Insights
Based on property information with market context.
This West Loop condo at Paramount Lofts features an open, split floor plan with 2 bedrooms and 2 bathrooms. The west-facing unit boasts 14-foot ceilings, a balcony, hardwood floors, a fireplace, and in-unit laundry. The primary bedroom includes an ensuite closet with an organizer, and the bathroom has a dual vanity, shower, and body spray. The floors have been newly refinished, and new carpet has been installed in the bedrooms. The property includes one deeded parking space #94 in a heated garage. Located near the United Center, Union Park, the Green/Pink line stop, 90/94 expressway, medical district, and Fulton Market/Restaurant Row, the building is also close to shops. Building amenities include 24-hour door staff, a fitness center, and a new sundeck. The property is sold in AS IS condition. Note that the HOA rental cap of 35% has been met.
Key Highlights
- Prime West Loop location near United Center, Union Park, Green/Pink line, 90/94, medical district, and Fulton Market/Restaurant Row.
- Features include 14' high ceilings, balcony, hardwood floors, fireplace, and in‑unit laundry.
- Primary bedroom boasts an ensuite closet with organizer and bathroom with dual vanity and shower with body spray.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,647
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,940
$332.9K
Cap Rate 7%
$237,814
$237.8K
Cap Rate 9%
$184,967
$185.0K
Market Conditions
NOI Build-Up for 1,086 SF
Gross rent
$31.9K $29.40/SF
− Vacancy
−$1.7K −$1.53/SF
EGI
$30.3K $27.87/SF
− OpEx
−$13.6K −$12.54/SF
NOI
$16.6K $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 Rate 5%
$332,940
Cap Rate 7%
$237,814
Cap Rate 9%
$184,967
Alternative Uses
Best Use
Apartment 5plus
$237.8K
$208.1K – $277.5K
NOI $16,647 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$512.0K
$448.0K – $597.4K
NOI $35,843 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
7,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 60612, IL
34,402
Population
16,763
Households
2.1
Avg Household Size
34
Median Age
41%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
9,298
Density / Sq Mi
$60,457
Median Household Income
$46,582
Median Earnings
$1,330
Median Rent
$331,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - West Loop 2 bed, 2 bath condo with parking.
Where is this apartment building located?
The property is located at 1645 W Ogden Avenue #417 Chicago, IL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Prime West Loop location near United Center, Union Park, Green/Pink line, 90/94, medical district, and Fulton Market/Restaurant Row.; Features include 14' high ceilings, balcony, hardwood floors, fireplace, and in‑unit laundry.; Primary bedroom boasts an ensuite closet with organizer and bathroom with dual vanity and shower with body spray.
