Duplex with Finished Lower-Level
2434 W Pershing Road, Chicago, IL 60632
For Sale
$599,000
Pending
Three levels of living space include separate gas and electric utilities and individual furnaces.
Property Size1,818 SF
Days on Market18
Property Features for 2434 W Pershing Road
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Highway Access
Utilities to Site
Units
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Amenities
ceiling fans
9-foot ceilings
recessed lighting
hardwood floors
in-unit laundry
central air conditioning
front wrought iron fence
Finished,Full
Kitchen,Utility Room-Lower Level
3
8
2
Lake Michigan,Public
(847) 454-1716
25X125
No
Building Details
Year Built
Buildings
Construction
Listing Agency:
eXp Realty
(630) 833-4422
Listed By:
George & Maribel Medina · License #471005598
(630) 408-9997
Source:
Gmsrealtygroup
Added: Oct 20
Changed: Oct 30
Last Checked: Nov 6 at 7:49AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This brick duplex at 2434 W Pershing Road has three levels, including a finished lower level with two bedrooms, a living area, kitchen, and full bath. The first- and second-floor apartments each have three bedrooms, a living room, dining room, kitchen, and full bath. The first-floor unit also features hardwood floors, 9-foot ceilings, recessed lighting, and in-unit laundry. Each unit has a separate furnace, and the two upper units have central air conditioning. Zoning is MULTI.
The property is within walking distance of McKinley Park and a short drive from I-55, shopping, restaurants, Midway Airport, and downtown Chicago. The roof is approximately 9 years old, and tuckpointing was completed about 6 years ago. Improvements also include updated electrical panels, newer plumbing and electrical on the first floor and lower level, and vinyl replacement windows.
The property is within walking distance of McKinley Park and a short drive from I-55, shopping, restaurants, Midway Airport, and downtown Chicago. The roof is approximately 9 years old, and tuckpointing was completed about 6 years ago. Improvements also include updated electrical panels, newer plumbing and electrical on the first floor and lower level, and vinyl replacement windows.
Key Highlights
- Three‑level layout with two three‑bedroom apartments and a finished lower‑level unit with two bedrooms
- Separate gas and electric utilities and an individual furnace for each unit
- Central air conditioning in the first- and second‑floor apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,415
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,300
$528.3K
Cap Rate 7%
$377,357
$377.4K
Cap Rate 9%
$293,500
$293.5K
Market Conditions
NOI Build-Up for 1,818 SF
Gross rent
$40.4K $22.20/SF
− Vacancy
−$2.6K −$1.44/SF
EGI
$37.7K $20.76/SF
− OpEx
−$11.3K −$6.23/SF
NOI
$26.4K $14.53/SF
Area
ZIP 60632
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,300
Cap Rate 7%
$377,357
Cap Rate 9%
$293,500
Alternative Uses
Best Use
Multifamily LT 5
$377.4K
$330.2K – $440.3K
NOI $26,415 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$339.1K
$296.7K – $395.6K
NOI $23,736 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$800.0K
$700.0K – $933.4K
NOI $56,003 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
919
Businesses Nearby
Explore this area
Business Placement
Demographics for 60632, IL
92,237
Population
28,860
Households
3.2
Avg Household Size
33
Median Age
13%
College-Educated
69%
High-School Grad
7.4 sq mi
ZIP Area
12,464
Density / Sq Mi
$60,576
Median Household Income
$35,203
Median Earnings
$1,057
Median Rent
$240,600
Median Home Value
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Market
Properties on Market for Duplexes in Chicago
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Three levels of living space include separate gas and electric utilities and individual furnaces.
Where is this duplex located?
The property is located at 2434 W Pershing Road Chicago, IL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three‑level layout with two three‑bedroom apartments and a finished lower‑level unit with two bedrooms; Separate gas and electric utilities and an individual furnace for each unit; Central air conditioning in the first- and second‑floor apartments
