Triplex With Detached Coach
For Sale
$1,350,000
Pending
1736 W Beach Avenue Chicago, Chicago, IL 60622
Three-unit residential income property with a separate coach house and south-facing windows providing abundant natural light.
Property Size5,325 SF
Days on Market54
Property Features for 1736 W Beach Avenue Chicago
General Information
Standard status
Pending
Size
5,325 SF
Property subtype
Two to Four Units
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$20,694
Amenities
Crawl Space
5
6
4
Lake Michigan
24X100
No
Stone
Building Details
Year Built
1885
Buildings
2
Construction
brick
Listing Agency:
(847) 558-6808
Listed By:
Krystel Gonzalez · License #475185100
(847) 558-6808
Source:
Remaxadream
Added: Jul 10
Changed: Aug 30
Last Checked: Aug 30 at 9:25AM
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 Krystel Gonzalez
Investment Insights
Based on property information with market context.
This 5,325-square-foot multifamily property is arranged as a three-unit building with a large detached coach house. The improvements date to 1885 and include substantial south-facing windows that bring natural light into the interiors. The 24X100 site adds useful scale for the existing configuration.
Located at 1736 W Beach Avenue in Chicago’s Wicker Park neighborhood, the property is positioned near neighborhood dining and transit. Its current triplex layout, separate accessory structure, and established urban setting provide a distinctive multifamily profile.
Located at 1736 W Beach Avenue in Chicago’s Wicker Park neighborhood, the property is positioned near neighborhood dining and transit. Its current triplex layout, separate accessory structure, and established urban setting provide a distinctive multifamily profile.
Key Highlights
- Three‑unit building with a large detached coach house
- 5,325 square feet of multifamily improvements
- Built in 1885
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
$88,767
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
6.58%
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%
$1,775,340
$1.8M
Cap Rate 7%
$1,268,100
$1.3M
Cap Rate 9%
$986,300
$986.3K
Market Conditions
NOI Build-Up for 5,325 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
$134.2K $25.20/SF
− Vacancy
−$7.4K −$1.39/SF
EGI
$126.8K $23.81/SF
− OpEx
−$38.0K −$7.14/SF
NOI
$88.8K $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%
$1,775,340
Cap Rate 7%
$1,268,100
Cap Rate 9%
$986,300
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,767 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,628 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,751 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,152
Businesses Nearby
Explore this area
Business Placement
Demographics for 60622, IL
55,075
Population
27,630
Households
2
Avg Household Size
33
Median Age
73%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
22,030
Density / Sq Mi
$124,852
Median Household Income
$76,180
Median Earnings
$1,932
Median Rent
$622,900
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 - Three-unit residential income property with a separate coach house and south-facing windows providing abundant natural light.
Where is this triplex located?
The property is located at 1736 W Beach Avenue Chicago Chicago, IL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Three‑unit building with a large detached coach house; 5,325 square feet of multifamily improvements; Built in 1885
