Vintage Brick Two-Unit
3531 N Oakley Avenue Chicago Chicago, IL 60618
3531 N Oakley Avenue Chicago, Chicago, IL, 60618
$1,250,000
Pending
For Sale
$1,250,000
Pending
Extra-wide 2-flat on a 30-foot-wide lot featuring a duplex-down 3BD/2BA unit and a 2BD/1BA unit.
Property Size3,130 SF
Days on Market14
Property Features for 3531 N Oakley Avenue Chicago
General Information
- Standard status
- Pending
- Size
- 3,130 SF
- Property subtype
- Two to Four Units
Building Details
- Year Built
- 1915
Listing agency
(847) 558-6808
Listed by
Luigui Corral
(847) 558-6808
Source
Remaxadream
Added: Jul 10 Updated: Jul 22 at 7:22PM Checked: Jul 22 at 7:22PM
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 Luigui Corral
Investment Insights
Based on property information with market context.
A classic extra-wide vintage brick two-unit duplex sits on an oversized 30-foot-wide lot. The building offers two separate apartments with duplex-down living in Unit 1 and a more traditional layout in Unit 2.
Unit 1 is a duplex down configuration with 3 bedrooms and 2 bathrooms. Unit 2 features 2 bedrooms and 1 bathroom. The property is noted as being located in the Bell Elementary School District.
Per the seller’s remarks, the property is positioned to appeal to both owner-occupants and investors, with mention of potential for conversion to a single-family home or redevelopment.
Unit 1 is a duplex down configuration with 3 bedrooms and 2 bathrooms. Unit 2 features 2 bedrooms and 1 bathroom. The property is noted as being located in the Bell Elementary School District.
Per the seller’s remarks, the property is positioned to appeal to both owner-occupants and investors, with mention of potential for conversion to a single-family home or redevelopment.
Key Highlights
- Extra‑wide vintage brick 2‑flat built in 1915 on a 30‑foot‑wide lot
- 2 total units: Unit 1 is a duplex‑down 3BD/2BA; Unit 2 is a 2BD/1BA
- Finished full basement
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 | $77.0k | $24.60 |
| − Vacancy | −$5.0k | −$1.60 |
| EGI | $72.0k | $23.00 |
| − OpEx | −$21.6k | −$6.90 |
| NOI | $50.4k | $16.10 |
3,130 SF · lease $24.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$719.9K
$629.9K – $839.9K
NOI $50,395 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$647.7K
$566.8K – $755.7K
NOI $45,341 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,729 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Extra-wide 2-flat on a 30-foot-wide lot featuring a duplex-down 3BD/2BA unit and a 2BD/1BA unit.
Where is this duplex located?
The property is located at 3531 N Oakley Avenue Chicago Chicago, IL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Extra‑wide vintage brick 2‑flat built in 1915 on a 30‑foot‑wide lot; 2 total units: Unit 1 is a duplex‑down 3BD/2BA; Unit 2 is a 2BD/1BA; Finished full basement
