Two-Unit Duplex
For Sale
$599,900
4035 N Keystone Avenue, Chicago, IL 60641
Separate HVAC and central air serve each residence, with laundry facilities in both units.
Property Size2,048 SF
Price / SF$292.92
Days on Market12
Property Features for 4035 N Keystone Avenue
General Information
Standard status
Active
Size
2,048 SF
Property subtype
Two to Four Units
Zoning
MULTI
Site & Location
Neighborhood
North Side
Taxes and HOA fees
Annual Taxes
$7,863
Amenities
Unfinished,Exterior Entry,Concrete,Partial,Walk-Out Access
Utility Room-2nd Floor
3
4
2
1
Lake Michigan,Public
76x20
No
CO Detectors,Ceiling Fan(s),Sump Pump,Multiple Water Heaters,Water Heater-Gas
Assigned,Alley Access,Direct Access,Yes,Owned
Concrete Perimeter
Building Details
Year Built
1965
Listing Agency:
(630) 833-4422
Listed By:
George & Maribel Medina · License #471005598
(630) 408-9997
Source:
Gmsrealtygroup
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 31 at 5:11AM
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 George & Maribel Medina
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Investment Insights
Based on property information with market context.
This 1965 duplex townhouse contains two legal residences totaling 2,048 square feet. The garden-level unit measures approximately 683 square feet and has one bedroom, one bathroom, an open layout, a full kitchen, and basement laundry. The upper residence spans the second and third floors, measures approximately 1,365 square feet, and offers three bedrooms, one and a half bathrooms, an updated eat-in kitchen, and in-unit laundry. Both units have individual HVAC systems with central air. The property is offered as-is.
Shared features include two off-street parking spaces, a courtyard patio, and basement storage. The property is across from Irving Park Blue Line and Metra stations and near I-90/94. Zoning is MULTI.
Shared features include two off-street parking spaces, a courtyard patio, and basement storage. The property is across from Irving Park Blue Line and Metra stations and near I-90/94. Zoning is MULTI.
Key Highlights
- Two legal units totaling 2,048 square feet
- Garden unit: approximately 683 square feet, 1 bedroom, 1 bathroom
- Upper unit: approximately 1,365 square feet, 3 bedrooms, 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,140
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,800
$682.8K
Cap Rate 7%
$487,714
$487.7K
Cap Rate 9%
$379,333
$379.3K
Market Conditions
NOI Build-Up for 2,048 SF
Gross rent
$51.6K $25.20/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$48.8K $23.81/SF
− OpEx
−$14.6K −$7.14/SF
NOI
$34.1K $16.67/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,800
Cap Rate 7%
$487,714
Cap Rate 9%
$379,333
Alternative Uses
Best Use
Multifamily LT 5
$487.7K
$426.8K – $569.0K
NOI $34,140 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$448.5K
$392.4K – $523.2K
NOI $31,394 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$965.6K
$844.9K – $1.13M
NOI $67,594 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,899
Businesses Nearby
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Business Placement
Demographics for 60641, IL
69,354
Population
27,377
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
17,339
Density / Sq Mi
$81,649
Median Household Income
$46,376
Median Earnings
$1,249
Median Rent
$373,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate HVAC and central air serve each residence, with laundry facilities in both units.
Where is this duplex located?
The property is located at 4035 N Keystone Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two legal units totaling 2,048 square feet; Garden unit: approximately 683 square feet, 1 bedroom, 1 bathroom; Upper unit: approximately 1,365 square feet, 3 bedrooms, 1.5 bathrooms
