East Garfield Park Two-Unit
2852 W Polk Street Chicago, IL 60612
For Sale
Under Contract
$649,000
MULTI_FAMILY - Chicago, IL
Property Size3,000 SF
Price / SF$216.33
Days on Market143
Property Features for 2852 W Polk Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Basement, Bathroom 2, Bathroom 1
Basement
Full, Unfinished
Standard status
Active Under Contract
APN
16133110200000
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
5243
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1888
Building materials
Brick
Listing Agency:
Pearson Realty Group
(773) 325-2800
Listed By:
Eduardo Padro · License #475141511
(773) 325-2800
Added: Mar 6
Changed: Jul 13
Last Checked: Jul 27 at 5:06PM
MLS# 12585653
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in East Garfield Park, this brick two-unit building is situated near the upcoming 1901 Project at the United Center, a planned $7 billion mixed-use development slated to break ground in the Spring of 2026. Each unit provides approximately 1,500 square feet of living space, featuring an open concept design with kitchens overlooking a spacious dining and living room area. Each unit also includes two bedrooms and one full bathroom with walk-in showers and benches. The property has a full unfinished basement with front and rear entrances, presenting the possibility of converting it into a third unit or duplexing the first-floor unit to create a larger 3,000 square foot space. The location offers convenient access to the I-290 Eisenhower Expressway, Downtown Chicago, the West Loop Corridor, the Medical District, and the CTA Train Station. The area is experiencing new construction projects, including a $42.2 million development named The Madison Street Athletic & Cultural Complex at 2905 W. Madison Ave, focused on revitalizing Madison Street. Newly built townhome developments have also appeared nearby. The property is equipped with an alarm and security cameras.
Key Highlights
- Brick 2‑unit building built in 1888
- Each unit features about 1,500 sq ft with open‑concept kitchen(s) overlooking the dining & living area
- Units include 2 bedrooms and 1 full bathroom with walk‑in showers with benches
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.6k | $25.20 |
| − Vacancy | −$4.2k | −$1.39 |
| EGI | $71.4k | $23.81 |
| − OpEx | −$21.4k | −$7.14 |
| NOI | $50.0k | $16.67 |
3,000 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$714.4K
$625.1K – $833.5K
NOI $50,009 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$657.0K
$574.8K – $766.5K
NOI $45,987 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $99,014 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit building near United Center redevelopment project.
Where is this duplex located?
The property is located at 2852 W Polk Street Chicago, IL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Brick 2‑unit building built in 1888; Each unit features about 1,500 sq ft with open‑concept kitchen(s) overlooking the dining & living area; Units include 2 bedrooms and 1 full bathroom with walk‑in showers with benches
