Quadplex With Detached
New
For Sale
$799,000
3001 S Haynes Ct, Chicago, IL 60608
Income-producing residential property with open-concept kitchens, private porches, and coin-operated laundry.
Property Size3,818 SF
Price / SF$209.27
Days on Market3
Property Features for 3001 S Haynes Ct
General Information
Standard status
Active
Size
3,818 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR, 2 x 2BR, 2 x 1BR
Multifamily Units
5
Amenities
private porches
coin-operated laundry
Building Details
Year Built
1903
Listing Agency:
Century 21 S.G.R., Inc.
Listed By:
Qizhong Guan
(312) 730-8319
Source:
Saladinosells
Added: Sep 19
Last Checked: Sep 21 at 9:48AM
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 Century 21 S.G.R., Inc.
Investment Insights
Based on property information with market context.
This quadplex includes approximately 3,818 square feet with 9 bedrooms and 5 bathrooms. Interior features include open-concept kitchens, 10'+ ceilings, and private porches. The property also offers an expansive unfinished basement, coin-operated laundry, and a detached 2-car garage. Recent improvements include a tear-off roof completed about 5-6 years ago, a newer porch, and some newer windows.
Located at 3001 S Haynes Court in Chicago, the property is near I-55, CTA Bus #62, the Orange Line, Palmisano Park, Cermak Produce, Mariano's, Chinatown, Downtown, Guaranteed Rate Field, and the lakefront. Six gas meters and 6 electric meters serve the property, adding useful infrastructure for its multi-unit configuration.
Located at 3001 S Haynes Court in Chicago, the property is near I-55, CTA Bus #62, the Orange Line, Palmisano Park, Cermak Produce, Mariano's, Chinatown, Downtown, Guaranteed Rate Field, and the lakefront. Six gas meters and 6 electric meters serve the property, adding useful infrastructure for its multi-unit configuration.
Key Highlights
- Approximately 3,818 sq ft with 9 bedrooms and 5 bathrooms
- 10'+ ceilings, open‑concept kitchens, and private porches
- 6 gas meters and 6 electric meters
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
$63,645
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
7.97%
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%
$1,272,900
$1.3M
Cap Rate 7%
$909,214
$909.2K
Cap Rate 9%
$707,167
$707.2K
Market Conditions
NOI Build-Up for 3,818 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
$96.2K $25.20/SF
− Vacancy
−$5.3K −$1.39/SF
EGI
$90.9K $23.81/SF
− OpEx
−$27.3K −$7.14/SF
NOI
$63.6K $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 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%
$1,272,900
Cap Rate 7%
$909,214
Cap Rate 9%
$707,167
Alternative Uses
Best Use
Multifamily LT 5
$909.2K
$795.6K – $1.06M
NOI $63,645 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$836.1K
$731.6K – $975.5K
NOI $58,527 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,012 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,112
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing residential property with open-concept kitchens, private porches, and coin-operated laundry.
Where is this quadplex located?
The property is located at 3001 S Haynes Ct Chicago, IL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Approximately 3,818 sq ft with 9 bedrooms and 5 bathrooms; 10'+ ceilings, open‑concept kitchens, and private porches; 6 gas meters and 6 electric meters
