East Lakeview Pre-War
For Sale
$585,000
3100 N Sheridan Road #11D, Chicago, IL 60657
Prestigious building near parks, lakefront, restaurants, and shops.
Property Size1,800 SF
Price / SF$325
Days on Market388
Property Features for 3100 N Sheridan Road #11D
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Condominium
Amenities
Small Duct High Velocity
Radiator(s)
Steam
Central Air
Range
Microwave
Dishwasher
High End Refrigerator
Bar Fridge
Washer
Dryer
Range Hood
Building Details
Building Size
1,800 SF
Year Built
1925
Listing Agency:
Engel & Voelkers Chicago
(773) 450-1247
Listed By:
Wade Marshall · License #0225212861
(773) 450-1247
Source:
Kw
Added: Aug 6, 2025
Changed: Aug 8
Last Checked: Aug 26 at 3:57PM
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 Engel & Voelkers Chicago
Investment Insights
Based on property information with market context.
Located in East Lakeview, The Barry is a prestigious pre-war high-rise building designed by Robert S. De Golyer and built by Paschen Brothers in 1924-1925. The building features a 24-hour door staff and a furnished lobby with a gas fireplace. Apartment 11D, accessible via elevator to a semi-private lobby shared with one neighbor, offers approximately 1800 square feet of living space centered around a foyer. The living room includes a gas-log fireplace and built-in features. The dining room is suitable for entertaining. A bar connects the dining room to the kitchen, which has custom dark-wood cabinetry, a Bosch appliance suite, and retro tile flooring. Beyond the kitchen is a mudroom, office, laundry area, bathroom, and pantry. The bedroom hallway with original built-in storage leads to the guest bedroom, the primary bedroom, and a bathroom. Many windows have been replaced or refurbished. Recent installations include high-velocity air conditioning and in-unit laundry. The Barry provides additional storage, a main level courtyard for outdoor dining and grilling, a playground/playroom, an exercise facility, and bike storage. The property is located one block from parks and the lakefront, and near restaurants, shops, and express buses.
Key Highlights
- Prime East Lakeview location: Steps from parks, the lakefront, restaurants, shops, and express buses.
- Prestige building: The Barry, a Robert S. De Golyer designed pre‑war high‑rise with 24‑hour door staff.
- Spacious 1800 sq ft apartment: Features a gracious foyer, expansive living room with gas‑log fireplace, and a dining room perfect for entertaining.
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
$27,592
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
4.72%
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%
$551,840
$551.8K
Cap Rate 7%
$394,171
$394.2K
Cap Rate 9%
$306,578
$306.6K
Market Conditions
NOI Build-Up for 1,800 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
$52.9K $29.40/SF
− Vacancy
−$2.8K −$1.53/SF
EGI
$50.2K $27.87/SF
− OpEx
−$22.6K −$12.54/SF
NOI
$27.6K $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 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%
$551,840
Cap Rate 7%
$394,171
Cap Rate 9%
$306,578
Alternative Uses
Best Use
Apartment 5plus
$394.2K
$344.9K – $459.9K
NOI $27,592 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$848.7K
$742.6K – $990.2K
NOI $59,409 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 60657, IL
72,316
Population
42,246
Households
1.7
Avg Household Size
32
Median Age
87%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
32,871
Density / Sq Mi
$109,025
Median Household Income
$77,731
Median Earnings
$1,839
Median Rent
$534,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Prestigious building near parks, lakefront, restaurants, and shops.
Where is this apartment building located?
The property is located at 3100 N Sheridan Road #11D Chicago, IL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Prime East Lakeview location: Steps from parks, the lakefront, restaurants, shops, and express buses.; Prestige building: The Barry, a Robert S. De Golyer designed pre‑war high‑rise with 24‑hour door staff.; Spacious 1800 sq ft apartment: Features a gracious foyer, expansive living room with gas‑log fireplace, and a dining room perfect for entertaining.
