Historic Duplex Residential
1919 S Prairie Avenue Unit 3, Chicago, IL 60616
For Sale
$1,449,000
A two-level residence in a Chicago Landmark mansion includes private offices, multiple fireplaces, and attached heated garage parking.
Property Size3,700 SF
Price / SF$391.62
Days on Market48
Property Features for 1919 S Prairie Avenue Unit 3
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
@properties Christie's International Real Estate
(312) 961-4612
Listed By:
Carrie McCormick · License #475123706
(312) 961-4642
Source:
Joy-residential
Added: Sep 22
Changed: Nov 5
Last Checked: Nov 8 at 8:42AM
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 @properties Christie's International Real Estate
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Investment Insights
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Set across the top two floors of the Marshall Field Jr. Mansion, this duplex residence offers approximately 3,700 square feet, four fireplaces, and 10-foot ceilings. The main level includes a family room with a Juliet balcony, formal living and dining rooms, a private office, and a kitchen with an oversized island, butler’s pantry, Viking range, Thermador refrigerator, Bosch dishwasher, and U-Line wine refrigerator. Upstairs, the primary suite has two walk-in closets and a bath with a steam shower and Jacuzzi tub. Two additional bedrooms, another office, and full-size Bosch laundry complete the layout.
Built in 1882 and designated a Chicago Landmark, the mansion is in Chicago’s Prairie Avenue Historic District. Museum Campus, Grant Park, the lakefront, Lake Shore Drive, downtown Chicago, Wintrust Stadium, and Soldiers’ Field are among the named nearby destinations. The residence also has two-car attached heated garage parking with EV charging, gated entry, and landscaped private gardens.
Improvements completed in 2026 include two furnaces, two air conditioning systems, two water heaters, and a flat roof. The home also features a whole-home surround sound system and a private office with custom built-ins.
Built in 1882 and designated a Chicago Landmark, the mansion is in Chicago’s Prairie Avenue Historic District. Museum Campus, Grant Park, the lakefront, Lake Shore Drive, downtown Chicago, Wintrust Stadium, and Soldiers’ Field are among the named nearby destinations. The residence also has two-car attached heated garage parking with EV charging, gated entry, and landscaped private gardens.
Improvements completed in 2026 include two furnaces, two air conditioning systems, two water heaters, and a flat roof. The home also features a whole-home surround sound system and a private office with custom built-ins.
Key Highlights
- Approximately 3,700 square feet across two levels in the Marshall Field Jr. Mansion
- Four fireplaces and 10‑foot ceilings
- Main‑level family room measures 20' x 18' and includes a Juliet balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,718
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,134,360
$1.1M
Cap Rate 7%
$810,257
$810.3K
Cap Rate 9%
$630,200
$630.2K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$108.8K $29.40/SF
− Vacancy
−$5.7K −$1.53/SF
EGI
$103.1K $27.87/SF
− OpEx
−$46.4K −$12.54/SF
NOI
$56.7K $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%
$1,134,360
Cap Rate 7%
$810,257
Cap Rate 9%
$630,200
Alternative Uses
Best Use
Apartment 5plus
$810.3K
$709.0K – $945.3K
NOI $56,718 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.53M – $2.04M
NOI $122,118 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
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Trade Area within ½ mile
2,813
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Demographics for 60616, IL
54,013
Population
26,912
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
86%
High-School Grad
3.8 sq mi
ZIP Area
14,214
Density / Sq Mi
$77,841
Median Household Income
$53,415
Median Earnings
$1,329
Median Rent
$387,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-level residence in a Chicago Landmark mansion includes private offices, multiple fireplaces, and attached heated garage parking.
Where is this residential income property located?
The property is located at 1919 S Prairie Avenue Unit 3 Chicago, IL.
What is the asking price?
The asking price for this property is $1,449,000.
What are key features of this property?
This property features: Approximately 3,700 square feet across two levels in the Marshall Field Jr. Mansion; Four fireplaces and 10‑foot ceilings; Main‑level family room measures 20' x 18' and includes a Juliet balcony
