Residential Income Apartment
For Sale
$2,300,000
1739 West Gregory Street, Chicago, IL 60640
Apartment building for sale offering residential income property in Chicago.
Property Size7,875 SF
Price / SF$292.06
Days on Market94
Property Features for 1739 West Gregory Street
General Information
Standard status
Active
Size
7,875 SF
Property subtype
Multi Family 5+ / Flats
Building Details
Year Built
1924
Listing Agency:
Pearson Realty Group
(773) 354-3316
Listed By:
Roziel Reyes · License #475123643
(773) 354-3316
Source:
Compass
Added: May 1
Changed: Jul 23
Last Checked: Jul 24 at 12:49PM
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 Pearson Realty Group
Investment Insights
Based on property information with market context.
This residential income apartment building is offered for sale as a multifamily property. The listing is categorized as an apartment building, supporting an income-focused ownership structure.
The property is located at 1739 West Gregory Street in Chicago, Illinois, with the full address provided for viewing and due diligence.
Additional details regarding the building’s unit count, layout, condition, and specific improvements are not provided in the information available.
The property is located at 1739 West Gregory Street in Chicago, Illinois, with the full address provided for viewing and due diligence.
Additional details regarding the building’s unit count, layout, condition, and specific improvements are not provided in the information available.
Key Highlights
- Apartment building built in 1924
- Residential income property in Chicago
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $231.5k | $29.40 |
| − Vacancy | −$12.0k | −$1.53 |
| EGI | $219.5k | $27.87 |
| − OpEx | −$98.8k | −$12.54 |
| NOI | $120.7k | $15.33 |
7,875 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.72M
$1.51M – $2.01M
NOI $120,717 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.71M
$3.25M – $4.33M
NOI $259,913 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,288
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building for sale offering residential income property in Chicago.
Where is this apartment building located?
The property is located at 1739 West Gregory Street Chicago, IL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Apartment building built in 1924; Residential income property in Chicago
