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    Renovated Humboldt Park Two-Flat Title is generated by Realmo AI

    3505 W Le Moyne Street, Chicago, IL 60651

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    Turnkey two-flat with garden unit in prime location.

    Type:Multifamily
    Added:
    May 21, 2026
    Days on Market:
    14
    Last Refresh:
    May 27 at 8:20 am

    Property Features for 3505 W Le Moyne Street

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    Building Details

    Year Built
    1894

    We can help!

    Listing Contact
    Jason Wagner

    Listing agent Jason Wagner License #IL

    Listing office Greystone Realty Group Llc

    Listing date May 21, 2026

    Source Crexi

    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 Greystone Realty Group Llc

    HighLights

    • Turnkey condition, fully renovated in 2019 for immediate occupancy.
    • Legal 2‑flat with nonconforming garden unit in desirable Humboldt Park.
    • Each unit features in‑unit laundry, stainless steel appliances, and updated kitchens.
    • Includes a valuable 3‑car parking pad.
    • Walking distance to Humboldt Park, the 606 trail, and North Avenue shops/restaurants.
    • Updated building systems including copper water lines, 200 amp electrical service, and HVAC with central AC.

    Overview

    This is a renovated brick two-flat with a nonconforming garden unit, located in Humboldt Park. The property was renovated with a rear addition in 2019. The above-grade units feature wide plank hardwood floors and 10' ceilings. Each unit includes a large primary suite, two bathrooms, granite countertops with breakfast bar seating, 42" cabinets, stainless steel appliances, and in-unit laundry. The units offer an open concept living space. The lower level unit has 7' ceilings, vinyl plank flooring, and an updated kitchen, along with a private washer and dryer. The property includes a smaller back porch, a sizable yard space, and a large parking pad that can accommodate 3 cars. Building features include copper water lines, 200 amp electrical service, HVAC with Central AC in each unit, vinyl windows, and separate utilities. The roof has been recently maintained. The property is located within walking distance to Humboldt Park, the 606 trail, coffee shops, and other shops and restaurants on North Avenue. It is a legal 2 flat plus nonconforming garden unit.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7146327
    Latitude
    41.9079436

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    FAQs

    What type of property is this?
    Duplex - Turnkey two-flat with garden unit in prime location.
    Where is this duplex located?
    The property is located at 3505 W Le Moyne Street Chicago, IL.
    What is the asking price?
    The asking price for this property is $699,900.
    What are key features of this property?
    This property features: Turnkey condition, fully renovated in 2019 for immediate occupancy.; Legal 2‑flat with nonconforming garden unit in desirable Humboldt Park.; Each unit features in‑unit laundry, stainless steel appliances, and updated kitchens.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jason Wagner
    Real Estate License ID: IL
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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