Duplex with Detached
For Sale
$400,000
3450 S Leavitt Street, Chicago, IL 60608
Two units offer flexibility for an owner-occupant or multifamily investor.
Property Size1,500 SF
Price / SF$266.67
Days on Market30
Property Features for 3450 S Leavitt Street
General Information
Standard status
Active
Size
1,500 SF
Total Parking Spaces
2
Property subtype
Residential Income
Site & Location
Neighborhood
Avondale
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,576
Building Details
Year Built
1888
Listed By:
Neal Ratner
(773) 784-9100
Source:
Aptandhomeseekers
Added: Sep 25
Changed: Oct 22
Last Checked: Oct 23 at 9:33PM
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 Neal Ratner
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Investment Insights
Based on property information with market context.
This two-unit duplex at 3450 S Leavitt Street includes approximately 1,500 square feet, four bedrooms, two full baths, and a detached two-car garage. Built in 1888, the property has an active renovation underway in the second-floor unit.
The home is in Chicago’s McKinley Park neighborhood, a few blocks from the 35th/Archer Orange Line station. Parks, shopping, neighborhood amenities, and public transportation are also identified nearby. The two-unit layout supports either owner occupancy or use as a multifamily investment property.
The home is in Chicago’s McKinley Park neighborhood, a few blocks from the 35th/Archer Orange Line station. Parks, shopping, neighborhood amenities, and public transportation are also identified nearby. The two-unit layout supports either owner occupancy or use as a multifamily investment property.
Key Highlights
- Two‑unit duplex with approximately 1,500 square feet
- Four bedrooms and two full baths
- Detached two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,005
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,100
$500.1K
Cap Rate 7%
$357,214
$357.2K
Cap Rate 9%
$277,833
$277.8K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$37.8K $25.20/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$35.7K $23.81/SF
− OpEx
−$10.7K −$7.14/SF
NOI
$25.0K $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 Rate 5%
$500,100
Cap Rate 7%
$357,214
Cap Rate 9%
$277,833
Alternative Uses
Best Use
Multifamily LT 5
$357.2K
$312.6K – $416.8K
NOI $25,005 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$328.5K
$287.4K – $383.2K
NOI $22,994 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$707.2K
$618.8K – $825.1K
NOI $49,507 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,295
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two units offer flexibility for an owner-occupant or multifamily investor.
Where is this duplex located?
The property is located at 3450 S Leavitt Street Chicago, IL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 1,500 square feet; Four bedrooms and two full baths; Detached two‑car garage
