Residential Income Property with
For Sale
$699,000
Pending
2140 W Division Street Unit 4, Chicago, IL 60622
Penthouse residence with multiple private outdoor areas, upgraded systems, attached garage parking, and storage amenities.
Property Size1,800 SF
Days on Market54
Property Features for 2140 W Division Street Unit 4
General Information
Standard status
Pending
Size
1,800 SF
Total Parking Spaces
1
Property subtype
Condo,Condo-Duplex,Penthouse
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$12,285
Amenities
gas fireplace
custom built-in bookcases
7-channel surround sound
chef's kitchen
hidden trash drawer
Samsung refrigerator
GE range and microwave
French doors
balcony
custom-organized closet shelving
dry bar with beverage fridge
rooftop oasis
gas line
hose hookup
new furnace
new AC unit
Nest thermostat
in-unit Kenmore laundry
storage locker
bike storage
Building Details
Building Size
1,800 SF
Year Built
2004
Listing Agency:
Compass
Listed By:
Elias Masud · License #475163294
(630) 697-4540
Source:
Dawnmckennagroup
Added: Aug 26
Changed: Oct 5
Last Checked: Oct 16 at 5:20PM
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 Compass
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Investment Insights
Based on property information with market context.
This 1,800-square-foot penthouse residence occupies the fourth unit of a meticulously maintained 2004 building. The home features an open living and dining area, floor-to-ceiling windows, a gas fireplace, built-in cabinetry, and integrated seven-channel surround sound. The kitchen includes a Samsung refrigerator, new GE range and microwave, and a concealed trash drawer. A primary suite with custom closet organization complements the main living areas, while the upper level adds a dry bar and beverage refrigerator.
Outdoor space includes a full-width brick and stone balcony and a private rooftop with skyline views, a gas line, and dedicated hose hookup. The property also includes a new furnace, new AC unit, Nest thermostat, in-unit Kenmore laundry, a deeded attached garage spot, storage locker, and bike storage. Division Street dining and boutiques are nearby, with access to the Blue Line.
Outdoor space includes a full-width brick and stone balcony and a private rooftop with skyline views, a gas line, and dedicated hose hookup. The property also includes a new furnace, new AC unit, Nest thermostat, in-unit Kenmore laundry, a deeded attached garage spot, storage locker, and bike storage. Division Street dining and boutiques are nearby, with access to the Blue Line.
Key Highlights
- 1,800‑square‑foot penthouse residence in a 2004 building
- Private rooftop with skyline views, gas line, and dedicated hose hookup
- Full‑width brick and stone balcony plus additional private outdoor areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,592
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$551,840
$551.8K
Cap Rate 7%
$394,171
$394.2K
Cap Rate 9%
$306,578
$306.6K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$52.9K $29.40/SF
− Vacancy
−$2.8K −$1.53/SF
EGI
$50.2K $27.87/SF
− OpEx
−$22.6K −$12.54/SF
NOI
$27.6K $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%
$551,840
Cap Rate 7%
$394,171
Cap Rate 9%
$306,578
Alternative Uses
Best Use
Apartment 5plus
$394.2K
$344.9K – $459.9K
NOI $27,592 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$848.7K
$742.6K – $990.2K
NOI $59,409 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 60622, IL
55,075
Population
27,630
Households
2
Avg Household Size
33
Median Age
73%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
22,030
Density / Sq Mi
$124,852
Median Household Income
$76,180
Median Earnings
$1,932
Median Rent
$622,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Penthouse residence with multiple private outdoor areas, upgraded systems, attached garage parking, and storage amenities.
Where is this residential income property located?
The property is located at 2140 W Division Street Unit 4 Chicago, IL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 1,800‑square‑foot penthouse residence in a 2004 building; Private rooftop with skyline views, gas line, and dedicated hose hookup; Full‑width brick and stone balcony plus additional private outdoor areas
