Two-Bedroom Residential
222 S Western Avenue Unit B, Chicago, IL 60612
For Sale
$379,000
An open-plan layout pairs in-unit laundry and central air with a private garage space.
Property Size1,220 SF
Price / SF$310.66
Days on Market10
Property Features for 222 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:
Harkinsandassociates
Added: Oct 30
Changed: Nov 7
Last Checked: Nov 6 at 6:02PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,220-square-foot residential condo was built in 2005 and has two bedrooms and 2.5 bathrooms. The open-plan interior includes stainless steel appliances, white shaker cabinetry, quartz counters and backsplash, and recessed lighting. Vinyl plank and ceramic flooring are used throughout, with central air, in-unit laundry, and a private garage space completing the features described.
The property is in Chicago, with downtown, parks, shopping, theaters, museums, restaurants, and entertainment areas described as minutes away.
The property is in Chicago, with downtown, parks, shopping, theaters, museums, restaurants, and entertainment areas described as minutes away.
Key Highlights
- Two bedrooms and 2.5 bathrooms in 1,220 square feet
- Built in 2005
- Private garage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,702
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,040
$374.0K
Cap Rate 7%
$267,171
$267.2K
Cap Rate 9%
$207,800
$207.8K
Market Conditions
NOI Build-Up for 1,220 SF
Gross rent
$35.9K $29.40/SF
− Vacancy
−$1.9K −$1.53/SF
EGI
$34.0K $27.87/SF
− OpEx
−$15.3K −$12.54/SF
NOI
$18.7K $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%
$374,040
Cap Rate 7%
$267,171
Cap Rate 9%
$207,800
Alternative Uses
Best Use
Apartment 5plus
$267.2K
$233.8K – $311.7K
NOI $18,702 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$575.2K
$503.3K – $671.1K
NOI $40,266 @ 7.0% cap · market cap 10.62%
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
1,799
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 - An open-plan layout pairs in-unit laundry and central air with a private garage space.
Where is this residential income property located?
The property is located at 222 S Western Avenue Unit B Chicago, IL.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Two bedrooms and 2.5 bathrooms in 1,220 square feet; Built in 2005; Private garage space
