Contemporary Duplex with Detached
New
For Sale
$399,900
3940 Center Avenue, Lyons, IL 60534
MULTI_FAMILY - Contemporary - Lyons, IL
Property Size2,846 SF
Lot Size0.28 Acres
Price / SF$140.51
Days on Market3
Property Features for 3940 Center Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Basement, Bathroom 1, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 3
Parking
8
Parking features
Owned, Garage, Assigned
Patio and Porch features
Patio
Fencing
Chain Link, Fenced
Basement
Full, Partially Finished, Storage Space
Lot features
Corner Lot
Elementary school district
103
Middle school district
103
High school district
201
Directions
Take 294 and exit at Ogden Avenue (34) East. Take past 1st Avenue. Turn right on Center Avenue. Property on right. From Chicago, take I-55 south to Harlem Avenue North. Turn left on Ogden Avenue. Turn left on Center Avenue. Property on right.
Subdivision
Lyons
Standard status
Active
APN
18011040510000
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
9547
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Amenities
laundry room
fenced backyard
Building Details
Year built
1971
Building materials
Brick
Roof type
Asphalt
Architectural style
Contemporary
Listing Agency:
Keller Williams Infinity · Keller Williams Realty
(630) 778-5800
Listed By:
Lori Swanson
(630) 778-5800
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 1 at 4:06AM
MLS# 12694410
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This contemporary duplex investment offers two identical units, each with three bedrooms, one bathroom, a kitchen, and a living room plus dining room/family room. Each unit has 1,423 square feet of interior space. A laundry room is located in the basement common area, and the partially finished basement includes a living area, flex space, a small refrigerator, and a bathroom with a shower stall. The door to the finished basement area and the unfinished storage space locks for privacy from the common area laundry room. The building has a front entry and a back entry.
The property is situated on a 0.28-acre lot with a fully fenced backyard. Parking is supported by a 3-car detached garage that can be rented out and five private parking spaces for occupants. Brick construction is paired with natural gas heating and an asphalt roof. The first-floor unit is vacant and has new vinyl plank flooring in the bedrooms, while the second-floor unit has a tenant in place.
A sump pump was replaced in July 2026. The estate sale is being sold as-is.
The property is situated on a 0.28-acre lot with a fully fenced backyard. Parking is supported by a 3-car detached garage that can be rented out and five private parking spaces for occupants. Brick construction is paired with natural gas heating and an asphalt roof. The first-floor unit is vacant and has new vinyl plank flooring in the bedrooms, while the second-floor unit has a tenant in place.
A sump pump was replaced in July 2026. The estate sale is being sold as-is.
Key Highlights
- Two identical units, each with three bedrooms and one bathroom, plus kitchen, living room, and dining room/family room
- 1,423 square feet per unit
- Partially finished basement includes a living area, flex space, small refrigerator, and bathroom with shower stall
Financial Insights For Apartment 5plus
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 | $64.5k | $22.68 |
| − Vacancy | −$4.5k | −$1.59 |
| EGI | $60.0k | $21.09 |
| − OpEx | −$27.0k | −$9.49 |
| NOI | $33.0k | $11.60 |
2,846 SF · lease $22.68/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$527.6K
$461.6K – $615.5K
NOI $36,929 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$471.7K
$412.7K – $550.3K
NOI $33,016 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$982.6K
$859.8K – $1.15M
NOI $68,782 @ 7.0% cap · market cap 17.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Explore this area
Business Placement
Demographics for 60534, IL
10,749
Population
4,461
Households
2.4
Avg Household Size
39
Median Age
16%
College-Educated
83%
High-School Grad
1.9 sq mi
ZIP Area
5,657
Density / Sq Mi
$63,827
Median Household Income
$41,328
Median Earnings
$1,149
Median Rent
$243,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two identical three-bedroom, one-bath units with private laundry access, plus a fenced backyard and detached garage for added income potential.
Where is this duplex located?
The property is located at 3940 Center Avenue Lyons, 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: Two identical units, each with three bedrooms and one bathroom, plus kitchen, living room, and dining room/family room; 1,423 square feet per unit; Partially finished basement includes a living area, flex space, small refrigerator, and bathroom with shower stall
