Three-Unit Brick Apartment
For Sale
$949,900
Pending
2653 W Winnemac Avenue, Chicago, IL 60625
Two full-floor residences and a nonconforming garden apartment provide a varied unit mix in Lincoln Square.
Property Size4,176 SF
Days on Market17
Property Features for 2653 W Winnemac Avenue
General Information
Standard status
Pending
Size
4,176 SF
Total Parking Spaces
2
Property subtype
Two to Four Units
Zoning
MULTI
Site & Location
Neighborhood
Ravenswood
Units
Unit Mix
2 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$13,289
Amenities
mini-split air conditioning
in-unit washer/dryer
sunroom
porch
patio
fenced backyard
storage units
radiant heated floors
Finished,Full
3
7
2-Flat
Lake Michigan
2
30x125
No
Garage Door Opener,Yes,Garage Owned,Detached,Garage
Concrete Perimeter
Building Details
Year Built
1922
Buildings
1
Listing Agency:
(708) 787-2808
Listed By:
Fares Suleiman
Source:
Kawashgroup
Added: Oct 21
Changed: Nov 5
Last Checked: Nov 6 at 8:39AM
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 Fares Suleiman
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Investment Insights
Based on property information with market context.
This 4,176-square-foot brick apartment property contains two full-floor homes, each with three bedrooms and one bathroom, plus a one-bedroom, one-bathroom garden apartment in the finished basement. The garden unit is nonconforming; the seller and broker make no representation regarding its legality. The building dates to 1922 and has refinished hardwood floors, custom kitchens and baths, quartz countertops, stainless-steel appliances, energy-efficient windows, ductless mini-split air conditioning, and in-unit laundry. The basement includes radiant-heated floors in the bedroom, kitchen, and bathroom, along with shared storage.
Each apartment has a sunroom and a private wood porch. The fenced backyard features a stone patio, and the property includes a detached two-car garage. Located in Chicago’s Lincoln Square neighborhood, the building is zoned MULTI.
Each apartment has a sunroom and a private wood porch. The fenced backyard features a stone patio, and the property includes a detached two-car garage. Located in Chicago’s Lincoln Square neighborhood, the building is zoned MULTI.
Key Highlights
- Three apartments: two 3‑bedroom, 1‑bathroom units and one nonconforming 1‑bedroom, 1‑bathroom garden unit
- 4,176 square feet; built in 1922
- Detached 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,613
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,392,260
$1.4M
Cap Rate 7%
$994,471
$994.5K
Cap Rate 9%
$773,478
$773.5K
Market Conditions
NOI Build-Up for 4,176 SF
Gross rent
$105.2K $25.20/SF
− Vacancy
−$5.8K −$1.39/SF
EGI
$99.4K $23.81/SF
− OpEx
−$29.8K −$7.14/SF
NOI
$69.6K $16.67/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,392,260
Cap Rate 7%
$994,471
Cap Rate 9%
$773,478
Alternative Uses
Best Use
Multifamily LT 5
$994.5K
$870.2K – $1.16M
NOI $69,613 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$914.5K
$800.2K – $1.07M
NOI $64,015 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,828 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,274
Businesses Nearby
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Business Placement
Demographics for 60625, IL
76,525
Population
33,932
Households
2.3
Avg Household Size
36
Median Age
54%
College-Educated
87%
High-School Grad
3.8 sq mi
ZIP Area
20,138
Density / Sq Mi
$85,299
Median Household Income
$48,314
Median Earnings
$1,455
Median Rent
$396,700
Median Home Value
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Market
Properties on Market for Triplexes in Chicago
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Two full-floor residences and a nonconforming garden apartment provide a varied unit mix in Lincoln Square.
Where is this triplex located?
The property is located at 2653 W Winnemac Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Three apartments: two 3‑bedroom, 1‑bathroom units and one nonconforming 1‑bedroom, 1‑bathroom garden unit; 4,176 square feet; built in 1922; Detached 2‑car garage
