Updated Condo Near
For Sale
$295,500
537 W Brompton Avenue #3S, Chicago, IL 60657
Updated condo in East Lake View, near the lakefront.
Property Size900 SF
Days on Market364
Property Features for 537 W Brompton Avenue #3S
General Information
Standard status
Active
Size
900 SF
Property subtype
Condominium
Amenities
Steam
Window Unit(s)
Radiator(s)
Range
Microwave
Dishwasher
Refrigerator
Stainless Steel Appliance(s)
Deck
Building Details
Building Size
900 SF
Listing Agency:
Compass
(773) 687-4696
Listed By:
Mario Greco · License #475105845
Source:
Kw
Added: Aug 25, 2025
Changed: Aug 8
Last Checked: Aug 22 at 1:01PM
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 updated condo unit is located on a quiet side street in Chicago's East Lake View neighborhood, near the lakefront, shopping, dining, and public transit. The foyer features a light fixture and large pier mirror, along with a hall closet. Natural light fills the east-facing living room and separate dining room. The living room includes a bay window, puck lighting, and built-in wall shelving. Glass French doors lead from the living room to the dining room, which is open to the renovated kitchen. The kitchen has newer tile flooring, granite counters with a built-in breakfast bar, contemporary Ann Sacks tile backsplash, stainless steel appliances, a built-in pantry, a Moen faucet, a transom window detail, and access to a private outdoor deck. The bedroom fits an oversized bed and features sconce accent lighting, a generously-sized closet, and a combo ceiling fan/light fixture. The updated bathroom includes tile flooring, a shower with Kohler fixtures and tile surround with inlay tile detail, a pedestal sink with Restoration Hardware mirror and fixtures, a Kohler toilet, and a built-in storage hutch. Additional features include original hardwood flooring, closet organizers, a new dishwasher, newer microwave, and private storage. The building has common area improvements including newer common windows and a newer common boiler. Monthly assessments include heat, water, gas, internet, and common area maintenance. The brick courtyard building is fenced in and landscaped. Rental parking options are available on-site and throughout the neighborhood. The lakefront is one block away. Multiple bus options are nearby, providing access to the Mag Mile and the central business district. Drivers have access to N. Lake Shore Drive. Jewel Osco is one block away and Whole Foods is two blocks away. Shopping and dining options are nearby along N Broadway and throughout East Lake View. Wrigley Field and the Addison CTA Red Line train station are a 1/2 mile away.
Key Highlights
- Prime East Lake View location: Steps from the lakefront, shopping, dining, and transit.
- Recently updated kitchen with granite counters, stainless steel appliances, and private outdoor deck.
- Updated bathroom with Kohler fixtures, contemporary tile, and built‑in storage.
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
$13,796
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
4.67%
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%
$275,920
$275.9K
Cap Rate 7%
$197,086
$197.1K
Cap Rate 9%
$153,289
$153.3K
Market Conditions
NOI Build-Up for 900 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
$26.5K $29.40/SF
− Vacancy
−$1.4K −$1.53/SF
EGI
$25.1K $27.87/SF
− OpEx
−$11.3K −$12.54/SF
NOI
$13.8K $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%
$275,920
Cap Rate 7%
$197,086
Cap Rate 9%
$153,289
Alternative Uses
Best Use
Apartment 5plus
$197.1K
$172.5K – $229.9K
NOI $13,796 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$424.3K
$371.3K – $495.1K
NOI $29,704 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,924
Businesses Nearby
Explore this area
Business Placement
Demographics for 60657, IL
72,316
Population
42,246
Households
1.7
Avg Household Size
32
Median Age
87%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
32,871
Density / Sq Mi
$109,025
Median Household Income
$77,731
Median Earnings
$1,839
Median Rent
$534,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Updated condo in East Lake View, near the lakefront.
Where is this apartment building located?
The property is located at 537 W Brompton Avenue #3S Chicago, IL.
What is the asking price?
The asking price for this property is $295,500.
What are key features of this property?
This property features: Prime East Lake View location: Steps from the lakefront, shopping, dining, and transit.; Recently updated kitchen with granite counters, stainless steel appliances, and private outdoor deck.; Updated bathroom with Kohler fixtures, contemporary tile, and built‑in storage.
