Renovated Duplex with Garden
New
For Sale
$770,000
2839 W Monroe Street, Chicago, IL 60612
The upper residence includes four bedrooms, while a separate garden apartment adds two bedrooms and its own kitchen.
Property Size3,731 SF
Price / SF$206.38
Days on Market6
Property Features for 2839 W Monroe Street
General Information
Standard status
Active
Size
3,731 SF
Property subtype
Two to Four Units
Zoning
MULTI
Site & Location
Neighborhood
East Garfield Park
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/2.5BA upstairs duplex, 1 x 2BR/1BA garden unit
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,752
Amenities
walk-in pantry
wine fridge
beverage center
electric fireplace with recessed TV
mudroom
raised back deck
landscaped back yard
in-unit laundry hook-up
heated garage
Unfinished,Full
Separate Shower,Double Sink,Soaking Tub
4
6
3
1
2
312-493-6181
Public
25X124
No
CO Detectors,Ceiling Fan(s),Multiple Water Heaters,Water Heater-Electric
Garage Door Opener,Heated Garage,Garage,Yes,Garage Owned,Detached
Block
Building Details
Construction
frame/brick
Listing Agency:
Certified Realty Group LLC
(224) 627-5519
Listed By:
Thomas Quigley
(847) 495-5000
Source:
Michanarealestatesolutions
Added: Nov 1
Changed: Nov 3
Last Checked: Nov 5 at 8:56AM
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 Certified Realty Group LLC
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Investment Insights
Based on property information with market context.
This renovated duplex pairs an upper residence with a separate garden apartment. The upper unit has four bedrooms and 2.5 bathrooms, with formal dining space, a family room, and a kitchen featuring a walk-in pantry, wine refrigerator, beverage center, and waterfall island. The garden apartment offers two bedrooms, one bathroom, separate living and dining areas, a kitchen, and laundry hookups. A rear deck and landscaped yard extend the outdoor space, and the garage has a heated, flat roof.
Building updates include a new roof, gutters, siding, energy-efficient windows, and spray insulation. Each unit has its own furnace, air conditioning, and tankless water heater; electrical service is 400 Amp. Plumbing upgrades include new underground plumbing and a backflow prevention valve, along with new copper water service.
The property is on W Monroe Street in Chicago, less than a block from the Madison Street Athletic & Cultural Complex. The garden apartment has a separate entrance and can serve as a rental or additional household space.
Building updates include a new roof, gutters, siding, energy-efficient windows, and spray insulation. Each unit has its own furnace, air conditioning, and tankless water heater; electrical service is 400 Amp. Plumbing upgrades include new underground plumbing and a backflow prevention valve, along with new copper water service.
The property is on W Monroe Street in Chicago, less than a block from the Madison Street Athletic & Cultural Complex. The garden apartment has a separate entrance and can serve as a rental or additional household space.
Key Highlights
- Two units: upper residence with 4 bedrooms and 2.5 bathrooms; garden apartment with 2 bedrooms and 1 bathroom
- Renovated building with 400 Amp electrical service
- Separate furnaces, A/C systems, and tankless water heaters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,195
Cap Rate
8.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,243,900
$1.2M
Cap Rate 7%
$888,500
$888.5K
Cap Rate 9%
$691,056
$691.1K
Market Conditions
NOI Build-Up for 3,731 SF
Gross rent
$94.0K $25.20/SF
− Vacancy
−$5.2K −$1.39/SF
EGI
$88.9K $23.81/SF
− OpEx
−$26.7K −$7.14/SF
NOI
$62.2K $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%
$1,243,900
Cap Rate 7%
$888,500
Cap Rate 9%
$691,056
Alternative Uses
Best Use
Multifamily LT 5
$888.5K
$777.4K – $1.04M
NOI $62,195 @ 7.0% cap · market cap 8.08%
Second Best
Apartment 5plus
$817.0K
$714.9K – $953.2K
NOI $57,193 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,141 @ 7.0% cap · market cap 15.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
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Business Placement
Demographics for 60612, IL
34,402
Population
16,763
Households
2.1
Avg Household Size
34
Median Age
41%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
9,298
Density / Sq Mi
$60,457
Median Household Income
$46,582
Median Earnings
$1,330
Median Rent
$331,600
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 - The upper residence includes four bedrooms, while a separate garden apartment adds two bedrooms and its own kitchen.
Where is this duplex located?
The property is located at 2839 W Monroe Street Chicago, IL.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: Two units: upper residence with 4 bedrooms and 2.5 bathrooms; garden apartment with 2 bedrooms and 1 bathroom; Renovated building with 400 Amp electrical service; Separate furnaces, A/C systems, and tankless water heaters for each unit
