South Roscoe Village
For Sale
$390,000
2933 N Clybourn Avenue #204, Chicago, IL 60618
Well-maintained 2 bed, 2 bath condo near Hamlin Park.
Property Size1,150 SF
Days on Market375
Property Features for 2933 N Clybourn Avenue #204
General Information
Standard status
Active
Size
1,150 SF
Property subtype
Condominium
Amenities
Natural Gas
Forced Air
Central Air
Range
Microwave
Dishwasher
Refrigerator
Freezer
Washer
Dryer
Disposal
Building Details
Building Size
1,150 SF
Year Built
2004
Listing Agency:
USRealty.com
Listed By:
Derek Morgan · License #10491207568
Source:
Kw
Added: Aug 1, 2025
Changed: Aug 8
Last Checked: Jul 16 at 6:35AM
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 USRealty.com
Investment Insights
Based on property information with market context.
Located in South Roscoe Village/West Lakeview, this unit is situated in a well-maintained, 15-unit boutique building. The building is pet-friendly and professionally managed with low assessments. The property is located a quarter block from Hamlin Park, which features a dog park, new pool, playground, tennis, and basketball courts. This is the largest 2-bedroom, 2-bathroom floorplan available in these condos. The unit includes a heated, attached garage space. Additional features include hardwood floors, a balcony off the living room, a master en-suite, stainless steel appliances, an in-unit washer and dryer, granite countertops, a breakfast bar/island, and high ceilings.
Key Highlights
- Largest 2/2 floorplan in the condo complex.
- Highly desirable location away from Clybourn‑facing side.
- Heated/attached garage space included.
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
$16,659
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
4.27%
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%
$333,180
$333.2K
Cap Rate 7%
$237,986
$238.0K
Cap Rate 9%
$185,100
$185.1K
Market Conditions
NOI Build-Up for 1,150 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
$32.2K $27.96/SF
− Vacancy
−$1.9K −$1.62/SF
EGI
$30.3K $26.34/SF
− OpEx
−$13.6K −$11.85/SF
NOI
$16.7K $14.49/SF
Area
ZIP 60618
Vacancy
5.80%
Lease Rate
$27.96 /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%
$333,180
Cap Rate 7%
$237,986
Cap Rate 9%
$185,100
Alternative Uses
Best Use
Apartment 5plus
$238.0K
$208.2K – $277.7K
NOI $16,659 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$502.5K
$439.7K – $586.2K
NOI $35,172 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,029
Businesses Nearby
Explore this area
Business Placement
Demographics for 60618, IL
90,316
Population
41,053
Households
2.2
Avg Household Size
35
Median Age
55%
College-Educated
89%
High-School Grad
5.0 sq mi
ZIP Area
18,063
Density / Sq Mi
$101,558
Median Household Income
$60,263
Median Earnings
$1,534
Median Rent
$538,300
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 - Well-maintained 2 bed, 2 bath condo near Hamlin Park.
Where is this apartment building located?
The property is located at 2933 N Clybourn Avenue #204 Chicago, IL.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Largest 2/2 floorplan in the condo complex.; Highly desirable location away from Clybourn‑facing side.; Heated/attached garage space included.
