Penthouse Residential Income
New
For Sale
$2,150,000
2041 W ROSCOE Street Unit PH, Chicago, IL 60618
Top-floor residence with private outdoor space, direct elevator access, and included garage parking.
Property Size4,330 SF
Price / SF$496.54
Days on Market5
Property Features for 2041 W ROSCOE Street Unit PH
General Information
Standard status
Active
Size
4,330 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Condo,Condo-Duplex,Penthouse
Units
Unit Mix
1 x 4BR/2.1BA
Multifamily Units
1
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$44,334
Amenities
private roof deck
built-in grilling station
wet bar
fireplace
laundry room
walk-in pantry
wine refrigerator
smart home system
motorized window treatments
skylights
radiant heat
Building Details
Building Size
4,330 SF
Year Built
2009
Listing Agency:
Jameson Sotheby's Intl Realty
Listed By:
Beth Gomez · License #475109414
(773) 727-1707
Source:
Harkinsandassociates
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 13 at 10:47AM
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 Jameson Sotheby's Intl Realty
Investment Insights
Based on property information with market context.
This 4,330-square-foot penthouse residence occupies the top floor of a 2009 building and features direct elevator entry. The layout includes four bedrooms, a family room, 2.1 baths, a central light atrium, and a spacious great room adjoining the dining area and kitchen. Custom cabinetry, Liebherr and Miele appliances, a walk-in pantry, wet bar, wine refrigeration, dedicated laundry room, and extensive storage support the interior. Concrete flooring with radiant heat, 10- to 11-foot ceilings, two skylights, floor-to-ceiling windows, motorized window treatments, and Savant multi-zone audio and video add to the building systems and finish package.
A private roof deck provides 360-degree views along with a sink, beverage refrigerator, built-in grill, television, trees, and an irrigated native garden. The property includes two-car garage parking, and association assessments cover heat and hot water. The residence is in Chicago’s Roscoe Village, near nightlife and shopping, and within the Audubon School District.
A private roof deck provides 360-degree views along with a sink, beverage refrigerator, built-in grill, television, trees, and an irrigated native garden. The property includes two-car garage parking, and association assessments cover heat and hot water. The residence is in Chicago’s Roscoe Village, near nightlife and shopping, and within the Audubon School District.
Key Highlights
- 4,330‑square‑foot penthouse in a 2009 building
- Direct elevator entry into the residence
- Private roof deck with 360‑degree views and built‑in grilling station
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
$62,725
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
2.92%
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%
$1,254,500
$1.3M
Cap Rate 7%
$896,071
$896.1K
Cap Rate 9%
$696,944
$696.9K
Market Conditions
NOI Build-Up for 4,330 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
$121.1K $27.96/SF
− Vacancy
−$7.0K −$1.62/SF
EGI
$114.0K $26.34/SF
− OpEx
−$51.3K −$11.85/SF
NOI
$62.7K $14.49/SF
Area
ZIP 60618
Vacancy
5.80%
Lease Rate
$27.96 /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%
$1,254,500
Cap Rate 7%
$896,071
Cap Rate 9%
$696,944
Alternative Uses
Best Use
Apartment 5plus
$896.1K
$784.1K – $1.05M
NOI $62,725 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.66M – $2.21M
NOI $132,431 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,444
Businesses Nearby
Explore this area
Business Placement
Demographics for 60618, IL
90,316
Population
41,053
Households
2.2
Avg Household Size
35
Median Age
55%
College-Educated
89%
High-School Grad
5.0 sq mi
ZIP Area
18,063
Density / Sq Mi
$101,558
Median Household Income
$60,263
Median Earnings
$1,534
Median Rent
$538,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor residence with private outdoor space, direct elevator access, and included garage parking.
Where is this residential income property located?
The property is located at 2041 W ROSCOE Street Unit PH Chicago, IL.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 4,330‑square‑foot penthouse in a 2009 building; Direct elevator entry into the residence; Private roof deck with 360‑degree views and built‑in grilling station
