Brick Two-Flat with Finished Lower
For Sale
$579,900
Pending
5353 N Spaulding Avenue, Chicago, IL 60625
Two residential units feature updated kitchens and baths, with additional finished space in the basement.
Property Size3,276 SF
Days on Market18
Property Features for 5353 N Spaulding Avenue
General Information
Standard status
Pending
Size
3,276 SF
Property subtype
Two to Four Units
Zoning
MULTI
Site & Location
Neighborhood
Gage Park
Taxes and HOA fees
Annual Taxes
$10,147
Amenities
Partially Finished,Exterior Entry,Concrete,Rec/Family Area,Sleeping Area,Storage Space,Full
Sitting Room
3
6
Lake Michigan,Public
2
32 X 125
No
CO Detectors,Ceiling Fan(s)
No Garage,Yes,Garage Owned,Detached,Garage
Concrete Perimeter
Building Details
Year Built
1921
Listing Agency:
(708) 787-2808
Listed By:
Robi Neupane
Source:
Kawashgroup
Added: Oct 20
Changed: Nov 5
Last Checked: Nov 6 at 8:40AM
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 Robi Neupane
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Investment Insights
Based on property information with market context.
Built in 1921, this brick duplex property contains 3,276 square feet on a 32 x 125-foot lot. Each of the two units has two bedrooms plus a tandem room, formal living and dining rooms, hardwood floors, and a fireplace with built-in shelving. Kitchens and bathrooms have been updated, and enclosed rear porches provide additional storage space.
The basement includes laundry and storage rooms, a mechanical room, and finished areas with two bedrooms, a full bath, living space, and food-preparation areas. Radiant heat serves the building; the roof was replaced in 2020. The property is zoned MULTI.
Nearby amenities within walking distance include restaurants, parks, university campuses, recreation, and shops. Transit access includes the Brown Line at Kimball and Metra, while I-90/94 and LSD at Foster are also cited as access points. Improvements and cosmetic work are needed to restore the property to its best condition.
The basement includes laundry and storage rooms, a mechanical room, and finished areas with two bedrooms, a full bath, living space, and food-preparation areas. Radiant heat serves the building; the roof was replaced in 2020. The property is zoned MULTI.
Nearby amenities within walking distance include restaurants, parks, university campuses, recreation, and shops. Transit access includes the Brown Line at Kimball and Metra, while I-90/94 and LSD at Foster are also cited as access points. Improvements and cosmetic work are needed to restore the property to its best condition.
Key Highlights
- Two units, each with 2 bedrooms plus a tandem room
- 3,276 square feet on a 32 x 125‑foot lot
- Basement has finished living space, 2 bedrooms, and a full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,218
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,004,360
$1.0M
Cap Rate 7%
$717,400
$717.4K
Cap Rate 9%
$557,978
$558.0K
Market Conditions
NOI Build-Up for 3,276 SF
Gross rent
$96.3K $29.40/SF
− Vacancy
−$5.0K −$1.53/SF
EGI
$91.3K $27.87/SF
− OpEx
−$41.1K −$12.54/SF
NOI
$50.2K $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 Rate 5%
$1,004,360
Cap Rate 7%
$717,400
Cap Rate 9%
$557,978
Alternative Uses
Best Use
Multifamily LT 5
$780.1K
$682.6K – $910.2K
NOI $54,610 @ 7.0% cap · market cap 9.42%
Second Best
Apartment 5plus
$717.4K
$627.7K – $837.0K
NOI $50,218 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,124 @ 7.0% cap · market cap 18.65%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
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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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Market
Properties on Market for Duplexes in Chicago
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature updated kitchens and baths, with additional finished space in the basement.
Where is this duplex located?
The property is located at 5353 N Spaulding Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms plus a tandem room; 3,276 square feet on a 32 x 125‑foot lot; Basement has finished living space, 2 bedrooms, and a full bath
