New Construction Triplex with
3316 West Adams Street Chicago, IL 60624
3316 West Adams Street, Chicago, IL, 60624
$899,900
Pending
For Sale
$899,900
Pending
Proposed three-unit building with 3 bedrooms and 3 full baths per unit, including private primary-bedroom balconies.
Property Size4,500 SF
Days on Market26
Property Features for 3316 West Adams Street
General Information
- Standard status
- Pending
- Size
- 4,500 SF
- Property subtype
- Two to Four Units / 3 Flat
Building Details
- Year Built
- 2026
Listing agency
ExaRealty LLC
(312) 525-0910
Listed by
Eva Diaz · License #471021069
(312) 525-0910
Source
Compass
Added: Jun 27 Updated: Jul 21 at 7:22AM Checked: Jul 21 at 7:22AM
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 ExaRealty LLC
Investment Insights
Based on property information with market context.
Proposed new construction triplex featuring three units designed with three bedrooms and three full bathrooms each. The layout includes two private master suites per unit, along with soaring ceilings, massive windows, and private balconies off the primary bedrooms. Interiors call out rich hardwood flooring and designer kitchens with sleek cabinetry and herringbone tile backsplash, with modern finishes carried through the homes’ bathrooms. The owner’s residence is highlighted by a spa-inspired walk-in shower, premium designer tile, and upscale fixtures. Each unit also includes access to a three-car parking pad.
The property is positioned on a prominent corner lot in West Chicago, near the expanding Illinois Medical District. It is described as located just off I-290, with convenient access to downtown and nearby medical employers such as Rush University Medical Center, Stroger Hospital, and the VA Hospital. Proposed completion is expected in June 2026.
The property is positioned on a prominent corner lot in West Chicago, near the expanding Illinois Medical District. It is described as located just off I-290, with convenient access to downtown and nearby medical employers such as Rush University Medical Center, Stroger Hospital, and the VA Hospital. Proposed completion is expected in June 2026.
Key Highlights
- Proposed 3‑unit luxury building on a corner lot; year built 2026
- Expected completion June 2026
- Each unit features 3 bedrooms and 3 full bathrooms, including two private master suites per unit
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 | $113.4k | $25.20 |
| − Vacancy | −$6.2k | −$1.39 |
| EGI | $107.2k | $23.81 |
| − OpEx | −$32.1k | −$7.14 |
| NOI | $75.0k | $16.67 |
4,500 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$937.7K – $1.25M
NOI $75,014 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$985.4K
$862.3K – $1.15M
NOI $68,981 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,522 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Proposed three-unit building with 3 bedrooms and 3 full baths per unit, including private primary-bedroom balconies.
Where is this triplex located?
The property is located at 3316 West Adams Street Chicago, IL.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Proposed 3‑unit luxury building on a corner lot; year built 2026; Expected completion June 2026; Each unit features 3 bedrooms and 3 full bathrooms, including two private master suites per unit
