Turn-Key Condo in Irving
4022 N Monticello Avenue #3N, Chicago, IL 60618
For Sale
$280,500
Top-floor condo with refinished floors, new appliances, and sunset views.
Property Size1,000 SF
Days on Market350
Property Features for 4022 N Monticello Avenue #3N
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Amenities
Natural Gas
Central Air
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Melanie Giglio · License IL #475149215
(773) 977-8460
Source:
Kw
Added: Nov 26, 2025
Changed: Nov 1
Last Checked: Nov 10 at 12:25PM
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 Compass
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Investment Insights
Based on property information with market context.
Located in the Irving Park neighborhood, this top-floor corner unit condo at Monticello Commons features a bright and open floor plan. The property includes two bedrooms of good size and ample closet space with an Elfa shelving system. It has recently refinished hardwood floors (2021), newer windows (2020), and newer appliances (2020). The condo also features a gas fireplace, custom blinds, and in-unit laundry. A spacious rear porch offers sunset views. Additional private storage is available in the basement. The property is close to Independence Park, Horner Park, retail, and restaurants, with convenient access to the expressway, Blue Line, and Metra. It is situated on a quiet, tree-lined side street. Easy street parking is available. Note that the owner must live in the unit for one year before being allowed to rent.
Key Highlights
- Top floor corner unit in desirable Irving Park location, close to parks, transportation, retail, and restaurants.
- Recently refinished hardwood floors (2021), newer windows (2020), and newer appliances (2020).
- Bright and open floor plan with two good sized bedrooms and ample closet space with Elfa shelving.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,486
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$289,720
$289.7K
Cap Rate 7%
$206,943
$206.9K
Cap Rate 9%
$160,956
$161.0K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$28.0K $27.96/SF
− Vacancy
−$1.6K −$1.62/SF
EGI
$26.3K $26.34/SF
− OpEx
−$11.9K −$11.85/SF
NOI
$14.5K $14.49/SF
Area
ZIP 60618
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$289,720
Cap Rate 7%
$206,943
Cap Rate 9%
$160,956
Alternative Uses
Best Use
Apartment 5plus
$206.9K
$181.1K – $241.4K
NOI $14,486 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$436.9K
$382.3K – $509.7K
NOI $30,584 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,094
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
Properties on Market for Apartment buildings in Chicago
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Top-floor condo with refinished floors, new appliances, and sunset views.
Where is this apartment building located?
The property is located at 4022 N Monticello Avenue #3N Chicago, IL.
What is the asking price?
The asking price for this property is $280,500.
What are key features of this property?
This property features: Top floor corner unit in desirable Irving Park location, close to parks, transportation, retail, and restaurants.; Recently refinished hardwood floors (2021), newer windows (2020), and newer appliances (2020).; Bright and open floor plan with two good sized bedrooms and ample closet space with Elfa shelving.
