Three-Level Residential Income
3918 S King Drive Unit 3S, Chicago, IL 60653
For Sale
New
$575,000
A 2019-built residence combines distinct living areas with private outdoor space and garage parking.
Property Size2,400 SF
Price / SF$239.58
Days on Market5
Property Features for 3918 S King Drive Unit 3S
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
garage parking
in-unit laundry
pet-friendly building
private balcony
private rooftop deck
Building Details
Building Size
Year Built
Listing Agency:
@properties Christie's International Real Estate
Listed By:
Sharial Howard · License #MRD886742
(312) 254-0200
Source:
Dawnmckennagroup
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 6 at 2:01PM
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 @properties Christie's International Real Estate
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Investment Insights
Based on property information with market context.
Arranged across three levels, this 2019-built residence offers approximately 2,400 square feet, with three bedrooms and three full bathrooms. The main floor features 14-foot ceilings, an open living and dining area, hardwood floors, and a kitchen with stainless-steel appliances and an island. A balcony extends the living area outdoors, while the lower level contains the bedrooms, including the primary suite. Upstairs, a family room connects through glass doors to a private rooftop deck.
The property is on King Drive in Chicago’s Bronzeville neighborhood. Nearby destinations include the lakefront, Mariano’s, Wintrust Arena, and McCormick Place, with access to Hyde Park and downtown Chicago. Garage parking and in-unit laundry are included, and the building is pet-friendly. Some photos are virtually staged.
The property is on King Drive in Chicago’s Bronzeville neighborhood. Nearby destinations include the lakefront, Mariano’s, Wintrust Arena, and McCormick Place, with access to Hyde Park and downtown Chicago. Garage parking and in-unit laundry are included, and the building is pet-friendly. Some photos are virtually staged.
Key Highlights
- Approximately 2,400 square feet with three bedrooms and three full bathrooms
- Three‑level layout includes a main‑floor living area, lower‑level bedrooms, and an upper‑level family room
- Built in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,790
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,800
$735.8K
Cap Rate 7%
$525,571
$525.6K
Cap Rate 9%
$408,778
$408.8K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$70.6K $29.40/SF
− Vacancy
−$3.7K −$1.53/SF
EGI
$66.9K $27.87/SF
− OpEx
−$30.1K −$12.54/SF
NOI
$36.8K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,800
Cap Rate 7%
$525,571
Cap Rate 9%
$408,778
Alternative Uses
Best Use
Apartment 5plus
$525.6K
$459.9K – $613.2K
NOI $36,790 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$990.2K – $1.32M
NOI $79,212 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,369
Businesses Nearby
Explore this area
Business Placement
Demographics for 60653, IL
33,146
Population
18,279
Households
1.8
Avg Household Size
37
Median Age
38%
College-Educated
90%
High-School Grad
2.4 sq mi
ZIP Area
13,811
Density / Sq Mi
$39,565
Median Household Income
$49,335
Median Earnings
$856
Median Rent
$347,800
Median Home Value
Market
Properties on Market for Residential income properties in Chicago
Frequently Asked Questions
What type of property is this?
Residential income property - A 2019-built residence combines distinct living areas with private outdoor space and garage parking.
Where is this residential income property located?
The property is located at 3918 S King Drive Unit 3S Chicago, IL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Approximately 2,400 square feet with three bedrooms and three full bathrooms; Three‑level layout includes a main‑floor living area, lower‑level bedrooms, and an upper‑level family room; Built in 2019
