Historic Four-Unit Apartment
33 E Division Street Chicago, IL 60610
33 E Division Street, Chicago, IL, 60610
$3,600,000
For Sale
$3,600,000
MULTI_FAMILY - Other - Chicago, IL
Property Size7,000 SF
Lot Size0.04 Acres
Price / SF$514.29
Days on Market54
Property Features for 33 E Division Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- MULTI
- Bedrooms
- 7
- Bathrooms
- 7
- Rooms
- Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 5, Bathroom 3, Basement, Den, Bathroom 1, Bathroom 5, Bathroom 6, Bedroom 7, Bathroom 7, Bathroom 4, Bedroom 1, Laundry Room
- Parking
- 4
- Parking features
- Garage, Open
- Patio and Porch features
- Deck
- Exterior features
- Balcony, Roof Deck, Outdoor Grill
- Basement
- Storage Space, Full, Finished, Exterior Entry, Daylight
- Standard status
- Active
- APN
- 17032000600000
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 17338
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned, Forced Air, Natural Gas
Building Details
- Year built
- 1881
- Building materials
- Brick, Stone, Limestone
- Architectural style
- Other
- Additional Structures
- Storage
Listing Agency
Jameson Sotheby's Intl Realty
(312) 751-0300
425 W. North Ave. suite 1, Chicago, IL
Listed by
Ronda Fish · License #475123879
(312) 335-3291
Added: May 26 Checked: Jul 18 at 3:06 am
MLS# 12644647
Listing URL
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.
Originally constructed in 1881, this historic Potter Palmer Greystone is situated on a rare 23.5-foot-wide lot and spans six levels with over 7,000 square feet. The building is currently configured as four income-producing apartments, with a rare four-car tandem garage created from the former fifth apartment and the original one-car garage. Interiors feature soaring 10+ foot ceilings, original millwork, stained glass, hardwood floors, carved oak mantels, and marble fireplaces. The property has been lovingly maintained and includes updates such as windows, electrical, plumbing, HVAC systems, and the roof.
The current rental lineup offers distinct unit layouts and expiration dates: a ground-level studio with a fireplace generating $2,000 per month (lease expires 4/30/27); a generously sized bi-level 2-bedroom, 2-bath residence with four fireplaces, formal dining, a jacuzzi tub, steam shower, and a private deck generating $5,500 per month (lease expires 4/30/27); a 1-bedroom apartment with a fireplace generating $2,500 per month (lease expires 10/31/26); and a large bi-level 3-bedroom residence with three fireplaces, a balcony, jacuzzi tub, steam shower, and a rooftop deck generating $6,200 per month (lease expires 7/31/26). Zoned MULTI and located in Chicago’s Gold Coast, the address places residents just steps from the lakefront, Oak Street Beach, the Magnificent Mile, and Oak Street shopping and dining.
This property is well suited for investors seeking a well-maintained income stream in a landmark setting, with thoughtfully updated building systems. It also presents a compelling opportunity for an owner-occupant or developer interested in reimagining the building as a boutique luxury residence or restoring it as a single-family mansion.
The current rental lineup offers distinct unit layouts and expiration dates: a ground-level studio with a fireplace generating $2,000 per month (lease expires 4/30/27); a generously sized bi-level 2-bedroom, 2-bath residence with four fireplaces, formal dining, a jacuzzi tub, steam shower, and a private deck generating $5,500 per month (lease expires 4/30/27); a 1-bedroom apartment with a fireplace generating $2,500 per month (lease expires 10/31/26); and a large bi-level 3-bedroom residence with three fireplaces, a balcony, jacuzzi tub, steam shower, and a rooftop deck generating $6,200 per month (lease expires 7/31/26). Zoned MULTI and located in Chicago’s Gold Coast, the address places residents just steps from the lakefront, Oak Street Beach, the Magnificent Mile, and Oak Street shopping and dining.
This property is well suited for investors seeking a well-maintained income stream in a landmark setting, with thoughtfully updated building systems. It also presents a compelling opportunity for an owner-occupant or developer interested in reimagining the building as a boutique luxury residence or restoring it as a single-family mansion.
Key Highlights
- Built in 1881 on a rare 23.5‑ft‑wide lot, with 7,000+ SF across six levels and a historic Gold Coast greystone exterior.
- Configured as four income‑producing apartments, including a ground‑level studio ($2,000/mo, lease ends 4/30/27).
- Unit #2: bi‑level 2BR/2BA with 4 fireplaces plus private deck (20.5 x 8.0) and 4‑car parking, generating $5,500/mo (lease ends 4/30/27).
Local 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 | $176.4k | $25.20 |
| − Vacancy | −$9.7k | −$1.39 |
| EGI | $166.7k | $23.81 |
| − OpEx | −$50.0k | −$7.14 |
| NOI | $116.7k | $16.67 |
7,000 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.67M
$1.46M – $1.94M
NOI $116,689 @ 7.0% cap · market cap 3.24%
Second Best
Apartment 5plus
$1.53M
$1.34M – $1.79M
NOI $107,304 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,034 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four income-producing apartments in a historic greystone with updated systems and rare four-car tandem parking.
Where is this quadplex located?
The property is located at 33 E Division Street Chicago, IL.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Built in 1881 on a rare 23.5‑ft‑wide lot, with 7,000+ SF across six levels and a historic Gold Coast greystone exterior.; Configured as four income‑producing apartments, including a ground‑level studio ($2,000/mo, lease ends 4/30/27).; Unit #2: bi‑level 2BR/2BA with 4 fireplaces plus private deck (20.5 x 8.0) and 4‑car parking, generating $5,500/mo (lease ends 4/30/27).
