Victorian 2-Flat with Deep
For Sale
$1,050,000
4426 N Damen Avenue, Chicago, IL 60625
Residential Income, Chicago, IL
Property Size3,445 SF
Lot Size0.10 Acres
Price / SF$304.79
Days on Market18
Property Features for 4426 N Damen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MULTI
Bedrooms
7
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6, Bedroom 7, Basement, Bedroom 5, Bathroom 1, Bedroom 1
Parking
2
Parking features
Garage
Basement
Full, Partially Finished
Elementary school district
299
Middle school district
299
High school district
299
Directions
Located on N. Damen Ave. between W. Foster Ave. and W. Berwyn Ave. in Chicago's Ravenswood area. Damen Ave. is easily accessible from Lincoln Ave., Western Ave., and Foster Ave
Subdivision
CHI - Lincoln Square
Standard status
Active
APN
14181340210000
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
14565
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Electric (Heating), Natural Gas
Water source
Public
Building Details
Year built
1898
Building materials
Aluminum Siding, Vinyl Siding
Roof type
Asphalt
Architectural style
Victorian, Queen Anne
Listing Agency:
RE/MAX Premier · RE/MAX International
(312) 475-1717
Listed By:
Frank Polancic · License #475137739
(312) 286-4706
Added: Sep 15
Changed: Oct 1
Last Checked: Oct 2 at 5:06AM
MLS# 12757528
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.
Built in 1898, this owner-occupied Chicago duplex combines Queen Anne and Victorian design elements with a practical two-level layout. The approximately 3,445-square-foot residence includes one three-bedroom unit and one four-bedroom unit, with 10-foot ceilings on both floors. Original features include hardwood flooring, pocket doors, detailed trim, dining-room built-ins, and a wood-burning fireplace on the second floor.
The property occupies a 25' x 174' lot in Ravenswood, with a large grassy backyard and a garage. Additional space includes a full attic with 8-12-foot ceilings and a full basement with two separate entrances and high ceilings. Public water and sewer serve the property, and the home is being sold as-is. The existing configuration offers two distinct residences, while any future reconfiguration would remain subject to applicable approvals.
The property occupies a 25' x 174' lot in Ravenswood, with a large grassy backyard and a garage. Additional space includes a full attic with 8-12-foot ceilings and a full basement with two separate entrances and high ceilings. Public water and sewer serve the property, and the home is being sold as-is. The existing configuration offers two distinct residences, while any future reconfiguration would remain subject to applicable approvals.
Key Highlights
- Approximately 3,445 square feet across two residential floors
- 25' x 174' lot with a large open backyard
- Two‑flat layout with three bedrooms on the first floor and four on the second
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,427
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,148,540
$1.1M
Cap Rate 7%
$820,386
$820.4K
Cap Rate 9%
$638,078
$638.1K
Market Conditions
NOI Build-Up for 3,445 SF
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.
Gross rent
$86.8K $25.20/SF
− Vacancy
−$4.8K −$1.39/SF
EGI
$82.0K $23.81/SF
− OpEx
−$24.6K −$7.14/SF
NOI
$57.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,148,540
Cap Rate 7%
$820,386
Cap Rate 9%
$638,078
Alternative Uses
Best Use
Multifamily LT 5
$820.4K
$717.8K – $957.1K
NOI $57,427 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$754.4K
$660.1K – $880.2K
NOI $52,809 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$1.62M
$1.42M – $1.90M
NOI $113,702 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,570
Businesses Nearby
Explore this area
Business Placement
Demographics for 60625, IL
76,525
Population
33,932
Households
2.3
Avg Household Size
36
Median Age
54%
College-Educated
87%
High-School Grad
3.8 sq mi
ZIP Area
20,138
Density / Sq Mi
$85,299
Median Household Income
$48,314
Median Earnings
$1,455
Median Rent
$396,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Owner-occupied duplex with period details, flexible living space, and a substantial backyard in Ravenswood.
Where is this duplex located?
The property is located at 4426 N Damen Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Approximately 3,445 square feet across two residential floors; 25' x 174' lot with a large open backyard; Two‑flat layout with three bedrooms on the first floor and four on the second
