Brick Triplex with Three-Car
New
For Sale
$849,000
3935 N Kimball Ave, Chicago, IL 60618
Three leased apartments offer varied layouts, private sunrooms, and shared laundry and storage in the lower level.
Property Size1,800 SF
Price / SF$471.67
Days on Market2
Property Features for 3935 N Kimball Ave
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Irving Park
Building Details
Year Built
1941
Listing Agency:
Hearth Investments Ltd
Listed By:
Bobby Grilli
(708) 337-2385
Source:
Grillimurphyrealestate
Added: Oct 28
Last Checked: Oct 28 at 6:53AM
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 Hearth Investments Ltd
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Investment Insights
Based on property information with market context.
This three-unit brick building contains a 3-bedroom, 1-bath apartment with a sunroom on the main floor, a 2-bedroom, 1-bath apartment with a sunroom upstairs, and a 1-bedroom, 1-bath lower-level apartment. The units measure 1,800, 1,450, and 1,200 square feet, respectively. The first and second floors include eat-in kitchens, separate living and dining rooms, hardwood floors, wood-burning fireplaces, and enclosed porches. Lower-level laundry and additional storage serve all three units.
All apartments are leased under formal agreements through mid-summer 2027. The property includes a three-car brick garage and one outdoor parking pad. Improvements completed within the last six years include a tear-off roof, boiler, water heater, two 200-amp electrical panels, and tuckpointing; the garage is set up for EV charging.
All apartments are leased under formal agreements through mid-summer 2027. The property includes a three-car brick garage and one outdoor parking pad. Improvements completed within the last six years include a tear-off roof, boiler, water heater, two 200-amp electrical panels, and tuckpointing; the garage is set up for EV charging.
Key Highlights
- Three apartments: 3‑bedroom/1‑bath at 1,800 square feet, 2‑bedroom/1‑bath at 1,450 square feet, and 1‑bedroom/1‑bath at 1,200 square feet
- All three apartments have formal leases through mid‑summer 2027
- Three‑car brick garage, one outdoor parking pad, and EV‑ready garage electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,981
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,620
$579.6K
Cap Rate 7%
$414,014
$414.0K
Cap Rate 9%
$322,011
$322.0K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$44.3K $24.60/SF
− Vacancy
−$2.9K −$1.60/SF
EGI
$41.4K $23.00/SF
− OpEx
−$12.4K −$6.90/SF
NOI
$29.0K $16.10/SF
Area
ZIP 60618
Vacancy
6.50%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,620
Cap Rate 7%
$414,014
Cap Rate 9%
$322,011
Alternative Uses
Best Use
Multifamily LT 5
$414.0K
$362.3K – $483.0K
NOI $28,981 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$372.5K
$325.9K – $434.6K
NOI $26,075 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$786.5K
$688.2K – $917.5K
NOI $55,052 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,247
Businesses Nearby
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Business Placement
Demographics for 60618, IL
90,316
Population
41,053
Households
2.2
Avg Household Size
35
Median Age
55%
College-Educated
89%
High-School Grad
5.0 sq mi
ZIP Area
18,063
Density / Sq Mi
$101,558
Median Household Income
$60,263
Median Earnings
$1,534
Median Rent
$538,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three leased apartments offer varied layouts, private sunrooms, and shared laundry and storage in the lower level.
Where is this triplex located?
The property is located at 3935 N Kimball Ave Chicago, IL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Three apartments: 3‑bedroom/1‑bath at 1,800 square feet, 2‑bedroom/1‑bath at 1,450 square feet, and 1‑bedroom/1‑bath at 1,200 square feet; All three apartments have formal leases through mid‑summer 2027; Three‑car brick garage, one outdoor parking pad, and EV‑ready garage electrical service
