Two-Bedroom Residential Income
218 S Western Avenue Unit B, Chicago, IL 60612
For Sale
$479,000
Renovated condo features an open layout, in-unit laundry, central air, and a private garage space.
Property Size1,835 SF
Price / SF$261.04
Days on Market10
Property Features for 218 S Western Avenue Unit B
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
central air
Building Details
Building Size
Year Built
Listing Agency:
Kale Realty
Listed By:
Donna Baker · License #475194654
(708) 466-4558
Source:
Dawnmckennagroup
Added: Oct 30
Changed: Nov 7
Last Checked: Nov 6 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 Kale Realty
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Investment Insights
Based on property information with market context.
This renovated 1,835-square-foot condo has two bedrooms and 2.5 bathrooms, with an open-plan interior and a private garage space. Finishes include stainless steel appliances, white shaker cabinetry, quartz countertops and backsplash, recessed lighting, and a combination of vinyl plank and ceramic flooring. In-unit laundry and central air are also included.
Built in 2005, the property is in Chicago’s Jackson Square area. Downtown, parks, shopping centers, theaters, museums, restaurants, and entertainment areas are described as minutes away.
Built in 2005, the property is in Chicago’s Jackson Square area. Downtown, parks, shopping centers, theaters, museums, restaurants, and entertainment areas are described as minutes away.
Key Highlights
- Renovated 1,835‑square‑foot condo
- Two bedrooms and 2.5 bathrooms
- Open‑plan interior with stainless steel appliances and quartz countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,129
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,580
$562.6K
Cap Rate 7%
$401,843
$401.8K
Cap Rate 9%
$312,544
$312.5K
Market Conditions
NOI Build-Up for 1,835 SF
Gross rent
$53.9K $29.40/SF
− Vacancy
−$2.8K −$1.53/SF
EGI
$51.1K $27.87/SF
− OpEx
−$23.0K −$12.54/SF
NOI
$28.1K $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%
$562,580
Cap Rate 7%
$401,843
Cap Rate 9%
$312,544
Alternative Uses
Best Use
Apartment 5plus
$401.8K
$351.6K – $468.8K
NOI $28,129 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$865.2K
$757.1K – $1.01M
NOI $60,564 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,184
Businesses Nearby
Explore this area
Business Placement
Demographics for 60612, IL
34,402
Population
16,763
Households
2.1
Avg Household Size
34
Median Age
41%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
9,298
Density / Sq Mi
$60,457
Median Household Income
$46,582
Median Earnings
$1,330
Median Rent
$331,600
Median Home Value
Market
Properties on Market for Residential income properties in Chicago
Frequently Asked Questions
What type of property is this?
Residential income property - Renovated condo features an open layout, in-unit laundry, central air, and a private garage space.
Where is this residential income property located?
The property is located at 218 S Western Avenue Unit B Chicago, IL.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Renovated 1,835‑square‑foot condo; Two bedrooms and 2.5 bathrooms; Open‑plan interior with stainless steel appliances and quartz countertops
