Industrial-Style Loft Income
New
For Sale
$750,000
2614 N Clybourn Avenue Unit 401, Chicago, IL 60614
Renovated two-level residence offers skyline and river views, outdoor space, and secure deeded parking.
Property Size1,676 SF
Price / SF$447.49
Days on Market3
Property Features for 2614 N Clybourn Avenue Unit 401
General Information
Standard status
Active
Size
1,676 SF
Total Parking Spaces
1
Property subtype
1/2 Duplex,Condo-Duplex,Penthouse
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR+den/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$12,025
Amenities
floor-to-ceiling windows
private wraparound balcony
fireplace
automatic blinds
heated bathroom floors
in-unit laundry
smart thermostat
wine refrigerator
shared bike room
on-site maintenance
Building Details
Building Size
1,676 SF
Year Built
1920
Listing Agency:
Berg Properties
(708) 406-9637
Listed By:
Colleen Berg · License #471019976
Source:
Harkinsandassociates
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 6:22PM
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 Berg Properties
Investment Insights
Based on property information with market context.
This 1,676 sq. ft. residential income property is arranged as a two-bedroom-plus-den, two-bath loft with a two-level layout. The main living area features 25-foot timber ceilings, exposed brick, black metal beams, hardwood floors, a fireplace, and expansive windows. A private wraparound balcony extends the living space, while the updated kitchen includes custom countertops, a waterfall island, wine refrigerator, and upgraded tilework. Renovated bathrooms, heated bathroom floors, in-unit laundry, automatic blinds, and a smart thermostat add functional improvements. The primary bedroom occupies the main level with an en-suite bath and walk-in closet; the upper bedroom has a private bath and an approximately 100 sq. ft. lofted flex room or office.
The property is located at 2614 N Clybourn Avenue Unit 401 in Chicago, within the Prescott Elementary and Lincoln Park High School districts. The home includes one deeded parking space, #10, in a secure gated lot. Building amenities include a shared bike room and on-site maintenance, with major interstates, public transportation, dining, shopping, and Mid-Town Athletic Club nearby.
The property is located at 2614 N Clybourn Avenue Unit 401 in Chicago, within the Prescott Elementary and Lincoln Park High School districts. The home includes one deeded parking space, #10, in a secure gated lot. Building amenities include a shared bike room and on-site maintenance, with major interstates, public transportation, dining, shopping, and Mid-Town Athletic Club nearby.
Key Highlights
- 1,676 sq. ft. two‑bedroom‑plus‑den, two‑bath loft
- 25‑foot timber ceilings with exposed brick and black metal beams
- Private wraparound balcony with Chicago skyline and Chicago River views
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
$25,692
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
3.43%
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%
$513,840
$513.8K
Cap Rate 7%
$367,029
$367.0K
Cap Rate 9%
$285,467
$285.5K
Market Conditions
NOI Build-Up for 1,676 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
$49.3K $29.40/SF
− Vacancy
−$2.6K −$1.53/SF
EGI
$46.7K $27.87/SF
− OpEx
−$21.0K −$12.54/SF
NOI
$25.7K $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 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%
$513,840
Cap Rate 7%
$367,029
Cap Rate 9%
$285,467
Alternative Uses
Best Use
Apartment 5plus
$367.0K
$321.2K – $428.2K
NOI $25,692 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$790.2K
$691.5K – $921.9K
NOI $55,316 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,459
Businesses Nearby
Explore this area
Business Placement
Demographics for 60614, IL
73,173
Population
38,089
Households
1.9
Avg Household Size
31
Median Age
86%
College-Educated
98%
High-School Grad
3.2 sq mi
ZIP Area
22,867
Density / Sq Mi
$139,561
Median Household Income
$86,386
Median Earnings
$2,019
Median Rent
$730,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated two-level residence offers skyline and river views, outdoor space, and secure deeded parking.
Where is this residential income property located?
The property is located at 2614 N Clybourn Avenue Unit 401 Chicago, IL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,676 sq. ft. two‑bedroom‑plus‑den, two‑bath loft; 25‑foot timber ceilings with exposed brick and black metal beams; Private wraparound balcony with Chicago skyline and Chicago River views
