Updated Two-Bedroom Duplex
For Sale
$350,000
1745 W 18th Place Unit 1R, Chicago, IL 60608
South-facing duplex residence with renovated finishes, in-unit laundry, private bedroom level, and dedicated exterior parking.
Property Size1,300 SF
Price / SF$269.23
Days on Market12
Property Features for 1745 W 18th Place Unit 1R
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Condo,Condo-Duplex
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,248
Building Details
Building Size
1,300 SF
Construction
all-brick
Listing Agency:
Keller Williams ONEChicago
Listed By:
Tommy Choi · License #471004140
(773) 851-5840
Source:
Harkinsandassociates
Added: Sep 15
Changed: Sep 25
Last Checked: Sep 24 at 3:36PM
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 Keller Williams ONEChicago
Investment Insights
Based on property information with market context.
This 1,300-square-foot duplex occupies part of an all-brick, 5-unit building and includes 2 bedrooms and 2 baths. The south-facing main level combines living and dining areas with hardwood floors, a refreshed kitchen featuring granite counters, stainless steel appliances, painted cabinetry, tile backsplash, and added pantry storage. A full bath and side-by-side in-unit laundry are also located on this level. Downstairs, two king-size-bed-capable bedrooms share an updated Jack-and-Jill bath with a jetted tub, while newer carpet and a walk-in closet add practical comfort.
Building improvements include a new roof, flashing, and skylights completed in 2024, along with rear staircase repairs, replacement work, and exterior painting completed in August 2026. The property also offers rear stairwell access, a small outdoor area, and dedicated exterior parking. Harrison Park, a community garden, the 18th Street Pink Line, Thalia Hall, restaurants, coffee shops, and additional Pilsen amenities are located nearby.
Building improvements include a new roof, flashing, and skylights completed in 2024, along with rear staircase repairs, replacement work, and exterior painting completed in August 2026. The property also offers rear stairwell access, a small outdoor area, and dedicated exterior parking. Harrison Park, a community garden, the 18th Street Pink Line, Thalia Hall, restaurants, coffee shops, and additional Pilsen amenities are located nearby.
Key Highlights
- 1,300‑square‑foot duplex with 2 bedrooms and 2 baths
- Located in an all‑brick, 5‑unit building
- Updated kitchen with granite countertops and stainless steel appliances
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
$19,928
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
5.69%
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%
$398,560
$398.6K
Cap Rate 7%
$284,686
$284.7K
Cap Rate 9%
$221,422
$221.4K
Market Conditions
NOI Build-Up for 1,300 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
$38.2K $29.40/SF
− Vacancy
−$2.0K −$1.53/SF
EGI
$36.2K $27.87/SF
− OpEx
−$16.3K −$12.54/SF
NOI
$19.9K $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%
$398,560
Cap Rate 7%
$284,686
Cap Rate 9%
$221,422
Alternative Uses
Best Use
Apartment 5plus
$284.7K
$249.1K – $332.1K
NOI $19,928 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$612.9K
$536.3K – $715.1K
NOI $42,906 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 60608, IL
75,770
Population
32,617
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
77%
High-School Grad
6.2 sq mi
ZIP Area
12,221
Density / Sq Mi
$70,704
Median Household Income
$42,211
Median Earnings
$1,208
Median Rent
$341,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - South-facing duplex residence with renovated finishes, in-unit laundry, private bedroom level, and dedicated exterior parking.
Where is this residential income property located?
The property is located at 1745 W 18th Place Unit 1R Chicago, IL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,300‑square‑foot duplex with 2 bedrooms and 2 baths; Located in an all‑brick, 5‑unit building; Updated kitchen with granite countertops and stainless steel appliances
