Historic Duplex with Separate
386 E Chicago Street, Elgin, IL 60120
For Sale
New
$399,900
Pending
A finished basement, detached garage, and heated office add functional space to this historic residence.
Property Size1,900 SF
Days on Market3
Property Features for 386 E Chicago Street
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
RE/MAX Horizon
Listed By:
Robert Wisdom · License IL #475122882
(630) 215-6600
Source:
Kalelrealty
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 13 at 7:27PM
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 RE/MAX Horizon
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Investment Insights
Based on property information with market context.
Built in 1900, this duplex pairs a historic main residence with a separate apartment on the upper level. The main home includes a finished basement with a recreation room, den, workshop area, and additional laundry. A detached 2 1/2-car garage has an attached heated office, while a covered enclosed porch offers another gathering area.
The apartment has a living room with a gas-log fireplace and vaulted ceilings, a separate dining area, an updated kitchen, one bedroom, a private balcony, and in-unit laundry. The property is located a few blocks from downtown Elgin.
The apartment has a living room with a gas-log fireplace and vaulted ceilings, a separate dining area, an updated kitchen, one bedroom, a private balcony, and in-unit laundry. The property is located a few blocks from downtown Elgin.
Key Highlights
- Built in 1900
- Separate upper‑level apartment with private balcony and in‑unit laundry
- Finished basement with recreation room, den, workshop area, and additional laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,654
Cap Rate
6.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,080
$493.1K
Cap Rate 7%
$352,200
$352.2K
Cap Rate 9%
$273,933
$273.9K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$38.1K $20.04/SF
− Vacancy
−$2.9K −$1.50/SF
EGI
$35.2K $18.54/SF
− OpEx
−$10.6K −$5.56/SF
NOI
$24.7K $12.98/SF
Area
Cook County, IL
Vacancy
7.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,080
Cap Rate 7%
$352,200
Cap Rate 9%
$273,933
Alternative Uses
Best Use
Multifamily LT 5
$352.2K
$308.2K – $410.9K
NOI $24,654 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$314.9K
$275.5K – $367.4K
NOI $22,042 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$729.6K
$638.4K – $851.2K
NOI $51,072 @ 7.0% cap · market cap 12.77%
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
1,576
Businesses Nearby
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Business Placement
Demographics for 60120, IL
50,799
Population
17,112
Households
3
Avg Household Size
35
Median Age
19%
College-Educated
74%
High-School Grad
17.4 sq mi
ZIP Area
2,919
Density / Sq Mi
$80,305
Median Household Income
$37,495
Median Earnings
$1,250
Median Rent
$227,000
Median Home Value
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Market
Properties on Market for Duplexes in Cook County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - A finished basement, detached garage, and heated office add functional space to this historic residence.
Where is this duplex located?
The property is located at 386 E Chicago Street Elgin, IL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Built in 1900; Separate upper‑level apartment with private balcony and in‑unit laundry; Finished basement with recreation room, den, workshop area, and additional laundry
