Apartment Building with Private
For Sale
$4,100,000
2835 W Division St, Chicago, IL 60622
Newer-construction multifamily property with open layouts, private balconies, and individually controlled HVAC.
Property Size13,272 SF
Days on Market51
Property Features for 2835 W Division St
General Information
Standard status
Active
Size
13,272 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
6 x 2BR, 2 x 4BR duplex
Multifamily Units
8
Amenities
private balconies
in-unit laundry
gas fireplaces
Building Details
Building Size
13,272 SF
Year Built
2014
Units
8
Listing Agency:
Essex Realty Group
Listed By:
Steven Livaditis
(312) 935-1050
Source:
Commercialcafe
Added: Sep 1
Changed: Oct 14
Last Checked: Oct 20 at 5:48PM
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 Essex Realty Group
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Investment Insights
Based on property information with market context.
Completed in 2016, this multifamily property contains eight apartments: six two-bedroom residences and two four-bedroom duplexes. Each home offers an open living arrangement, strong natural light, a private balcony oriented toward Humboldt Park, in-unit laundry, a gas fireplace, and individually controlled HVAC. Kitchens include quartz counters, oversized islands, stainless steel appliances, and custom cabinetry, while the bathrooms feature large glass-enclosed showers and spacious primary suites.
The property includes eight on-site parking spaces, with five indoors and three outdoors. It is positioned on West Division Street in East Humboldt Park, near the restaurants, cafés, breweries, entertainment venues, and boutique retail found throughout East Humboldt Park, Wicker Park, and Ukrainian Village. CTA Blue Line service, multiple bus routes, and access to the Kennedy and Eisenhower expressways connect the area with downtown Chicago and surrounding destinations.
The property includes eight on-site parking spaces, with five indoors and three outdoors. It is positioned on West Division Street in East Humboldt Park, near the restaurants, cafés, breweries, entertainment venues, and boutique retail found throughout East Humboldt Park, Wicker Park, and Ukrainian Village. CTA Blue Line service, multiple bus routes, and access to the Kennedy and Eisenhower expressways connect the area with downtown Chicago and surrounding destinations.
Key Highlights
- Eight apartments: six two‑bedroom units and two four‑bedroom duplexes
- Completed in 2016 with eight on‑site parking spaces
- Five indoor parking spaces and three exterior spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$203,449
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,068,980
$4.1M
Cap Rate 7%
$2,906,414
$2.9M
Cap Rate 9%
$2,260,544
$2.3M
Market Conditions
NOI Build-Up for 13,272 SF
Gross rent
$390.2K $29.40/SF
− Vacancy
−$20.3K −$1.53/SF
EGI
$369.9K $27.87/SF
− OpEx
−$166.5K −$12.54/SF
NOI
$203.4K $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%
$4,068,980
Cap Rate 7%
$2,906,414
Cap Rate 9%
$2,260,544
Alternative Uses
Best Use
Apartment 5plus
$2.91M
$2.54M – $3.39M
NOI $203,449 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.26M
$5.48M – $7.30M
NOI $438,040 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,416
Businesses Nearby
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Business Placement
Demographics for 60622, IL
55,075
Population
27,630
Households
2
Avg Household Size
33
Median Age
73%
College-Educated
94%
High-School Grad
2.5 sq mi
ZIP Area
22,030
Density / Sq Mi
$124,852
Median Household Income
$76,180
Median Earnings
$1,932
Median Rent
$622,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Newer-construction multifamily property with open layouts, private balconies, and individually controlled HVAC.
Where is this apartment building located?
The property is located at 2835 W Division St Chicago, IL.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: Eight apartments: six two‑bedroom units and two four‑bedroom duplexes; Completed in 2016 with eight on‑site parking spaces; Five indoor parking spaces and three exterior spaces
