Duplex Residential Income
New
For Sale
$425,000
4627 N Kenmore Avenue Unit 1E, Chicago, IL 60640
Two-level condo with updated building systems, private outdoor space, rental flexibility, and an included parking space.
Property Size1,500 SF
Price / SF$283.33
Days on Market6
Property Features for 4627 N Kenmore Avenue Unit 1E
General Information
Standard status
Active
Size
1,500 SF
Total Parking Spaces
1
Property subtype
Condo,Condo-Duplex
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,119
Amenities
fireplace
stainless steel appliances
granite countertops
hardwood floors
balcony
in-unit washer/dryer
Building Details
Building Size
1,500 SF
Year Built
1997
Listing Agency:
Compass
(630) 697-4540
Listed By:
Elias Masud · License #475163294
Source:
Dawnmckennagroup
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 22 at 10:58AM
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
Investment Insights
Based on property information with market context.
This 1,500-square-foot duplex condo offers a two-level layout with hardwood flooring, high ceilings, abundant storage, and an in-unit washer and dryer. The main floor includes a sunlit living area with a gas fireplace, an open kitchen with stainless steel appliances, granite counters, maple cabinetry, and an island, plus a dining area, balcony, and half bath. Upstairs are a primary suite with an ensuite bathroom and a second bedroom suited to guest, office, or creative use.
The property includes a parking space and permits rentals, providing flexibility for occupants and investors. Building improvements include a full roof replacement completed in 2020, an AC unit installed in 2021, and a furnace upgrade in 2018. The home is located on N Kenmore Avenue in Chicago’s Uptown area, near the Red Line, Target, local parks, Montrose Beach, the lakefront, dining, and shops.
The property includes a parking space and permits rentals, providing flexibility for occupants and investors. Building improvements include a full roof replacement completed in 2020, an AC unit installed in 2021, and a furnace upgrade in 2018. The home is located on N Kenmore Avenue in Chicago’s Uptown area, near the Red Line, Target, local parks, Montrose Beach, the lakefront, dining, and shops.
Key Highlights
- 1,500‑square‑foot duplex condo with two‑level living
- Primary suite with ensuite bathroom and second bedroom
- Open kitchen with stainless steel appliances, granite counters, maple cabinetry, and island
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
$22,994
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
5.41%
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%
$459,880
$459.9K
Cap Rate 7%
$328,486
$328.5K
Cap Rate 9%
$255,489
$255.5K
Market Conditions
NOI Build-Up for 1,500 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
$44.1K $29.40/SF
− Vacancy
−$2.3K −$1.53/SF
EGI
$41.8K $27.87/SF
− OpEx
−$18.8K −$12.54/SF
NOI
$23.0K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
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%
$459,880
Cap Rate 7%
$328,486
Cap Rate 9%
$255,489
Alternative Uses
Best Use
Apartment 5plus
$328.5K
$287.4K – $383.2K
NOI $22,994 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$707.2K
$618.8K – $825.1K
NOI $49,507 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,555
Businesses Nearby
Explore this area
Business Placement
Demographics for 60640, IL
65,941
Population
40,850
Households
1.6
Avg Household Size
38
Median Age
63%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
27,475
Density / Sq Mi
$71,030
Median Household Income
$59,264
Median Earnings
$1,374
Median Rent
$363,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level condo with updated building systems, private outdoor space, rental flexibility, and an included parking space.
Where is this residential income property located?
The property is located at 4627 N Kenmore Avenue Unit 1E Chicago, IL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,500‑square‑foot duplex condo with two‑level living; Primary suite with ensuite bathroom and second bedroom; Open kitchen with stainless steel appliances, granite counters, maple cabinetry, and island
