10-Unit Apartment
New
For Sale
$2,195,000
2752 W 14 Street, Chicago, IL 60608
Fully occupied property with renovated interiors, separate entrances, individual utility metering, and resident laundry amenities.
Property Size11,584 SF
Days on Market6
Property Features for 2752 W 14 Street
General Information
Standard status
Active
Size
11,584 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,772
Building Details
Building Size
11,584 SF
Year Built
1925
Stories
3
Units
10
Listing Agency:
Teva Realty
(312) 646-6000
Listed By:
Petros Kyvelos
(312) 646-6000
Source:
Ozmentrealestate
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 22 at 2:28PM
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 Teva Realty
Investment Insights
Based on property information with market context.
This 10-unit apartment building received a full renovation in 2023 and is fully occupied. The unit mix includes 9 two-bedroom apartments and 1 one-bedroom apartment, with central AC and heat, dishwashers, and microwave hoods throughout. Four park-facing units have private in-unit laundry, while six rear apartments accessed from 14th Street share a laundry room equipped with 2 coin-operated washers and 2 dryers. Tenants pay their own utilities, and each apartment is individually metered.
The property has 2 separate entrances, an attached garage with 2 spaces, 6 storage lockers, and a large basement identified for future ADU development. It is located at 2752 W 14 Street in Chicago's Douglass Park neighborhood and was originally built in 1925.
The property has 2 separate entrances, an attached garage with 2 spaces, 6 storage lockers, and a large basement identified for future ADU development. It is located at 2752 W 14 Street in Chicago's Douglass Park neighborhood and was originally built in 1925.
Key Highlights
- 10‑unit building with 9 two‑bedroom apartments and 1 one‑bedroom apartment
- Full renovation completed in 2023; property is fully occupied
- All units individually metered, with tenants paying their own utilities
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
$177,573
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
8.09%
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%
$3,551,460
$3.6M
Cap Rate 7%
$2,536,757
$2.5M
Cap Rate 9%
$1,973,033
$2.0M
Market Conditions
NOI Build-Up for 11,584 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
$340.6K $29.40/SF
− Vacancy
−$17.7K −$1.53/SF
EGI
$322.9K $27.87/SF
− OpEx
−$145.3K −$12.54/SF
NOI
$177.6K $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%
$3,551,460
Cap Rate 7%
$2,536,757
Cap Rate 9%
$1,973,033
Alternative Uses
Best Use
Apartment 5plus
$2.54M
$2.22M – $2.96M
NOI $177,573 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.46M
$4.78M – $6.37M
NOI $382,328 @ 7.0% cap · market cap 17.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,646
Businesses Nearby
Explore this area
Business Placement
Demographics for 60608, IL
75,770
Population
32,617
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
77%
High-School Grad
6.2 sq mi
ZIP Area
12,221
Density / Sq Mi
$70,704
Median Household Income
$42,211
Median Earnings
$1,208
Median Rent
$341,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied property with renovated interiors, separate entrances, individual utility metering, and resident laundry amenities.
Where is this apartment building located?
The property is located at 2752 W 14 Street Chicago, IL.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: 10‑unit building with 9 two‑bedroom apartments and 1 one‑bedroom apartment; Full renovation completed in 2023; property is fully occupied; All units individually metered, with tenants paying their own utilities
