Two-Bedroom Residential Income
For Sale
$550,000
200 E DELAWARE Place #13C, Chicago, IL 60611
Updated residence with a balcony, lake views, premium appliances, and full-service building amenities near Chicago’s lakefront.
Property Size1,550 SF
Days on Market51
Property Features for 200 E DELAWARE Place #13C
General Information
Standard status
Active
Size
1,550 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
recently renovated lobby
state-of-the-art fitness center
party room
24-hour door staff
onsite management
bike storage
package room
media center
heated outdoor pool
multiple grilling and dining areas
fire pit
dog run
valet parking
Central Air
Range
Microwave
Dishwasher
Refrigerator
Disposal
Stainless Steel Appliance(s)
Deck, Asphalt
Building Details
Building Size
1,550 SF
Year Built
1972
Listing Agency:
@properties Christie's International Real Estate
Listed By:
Margaret Baczkowski · License #6501414017
(312) 371-8379
Source:
Kw
Added: Jul 17
Changed: Sep 2
Last Checked: Sep 4 at 5:44PM
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
Investment Insights
Based on property information with market context.
This two-bedroom, two-bath residential income property occupies a northeast corner position with east-facing outdoor space and lake views. The home features refinished flooring, an open living and dining arrangement, a gallery entry with a dry bar, and a kitchen equipped with custom SieMatic cabinetry, GE Appliances, Samsung appliances, a Bosch dishwasher, cooktop, built-in microwave, refrigerator, and disposal. The primary suite includes generous closet storage and a private bath with a walk-in shower, stone countertops, and stone flooring. The second bathroom has also been updated.
Located at 200 E Delaware Place in Chicago’s Streeterville area, the residence is near Michigan Avenue, Lake Shore Drive, Oak Street Beach, restaurants, and the Lakefront Trail. Building amenities include a renovated lobby, fitness center, party room, 24-hour door staff, onsite management, bike storage, package room, media center, heated outdoor pool, grilling and dining areas, fire pit, dog run, and valet parking. The property was built in 1972.
Located at 200 E Delaware Place in Chicago’s Streeterville area, the residence is near Michigan Avenue, Lake Shore Drive, Oak Street Beach, restaurants, and the Lakefront Trail. Building amenities include a renovated lobby, fitness center, party room, 24-hour door staff, onsite management, bike storage, package room, media center, heated outdoor pool, grilling and dining areas, fire pit, dog run, and valet parking. The property was built in 1972.
Key Highlights
- Two‑bedroom, two‑bath northeast corner residence
- East‑facing balcony with lake views
- Custom SieMatic kitchen cabinetry with GE Appliances, Samsung appliances, and Bosch dishwasher
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
$23,760
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
4.32%
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%
$475,200
$475.2K
Cap Rate 7%
$339,429
$339.4K
Cap Rate 9%
$264,000
$264.0K
Market Conditions
NOI Build-Up for 1,550 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
$45.6K $29.40/SF
− Vacancy
−$2.4K −$1.53/SF
EGI
$43.2K $27.87/SF
− OpEx
−$19.4K −$12.54/SF
NOI
$23.8K $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%
$475,200
Cap Rate 7%
$339,429
Cap Rate 9%
$264,000
Alternative Uses
Best Use
Apartment 5plus
$339.4K
$297.0K – $396.0K
NOI $23,760 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$730.8K
$639.5K – $852.6K
NOI $51,157 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
16,625
Businesses Nearby
Explore this area
Business Placement
Demographics for 60611, IL
38,456
Population
28,239
Households
1.4
Avg Household Size
39
Median Age
88%
College-Educated
99%
High-School Grad
0.8 sq mi
ZIP Area
48,070
Density / Sq Mi
$124,621
Median Household Income
$92,917
Median Earnings
$2,416
Median Rent
$608,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated residence with a balcony, lake views, premium appliances, and full-service building amenities near Chicago’s lakefront.
Where is this residential income property located?
The property is located at 200 E DELAWARE Place #13C Chicago, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath northeast corner residence; East‑facing balcony with lake views; Custom SieMatic kitchen cabinetry with GE Appliances, Samsung appliances, and Bosch dishwasher
