Residential Income
For Sale
$310,000
5743 S Michigan Avenue Unit 1S, Chicago, IL 60637
The 3-bedroom, 3-bath residence includes in-unit laundry and two assigned parking spaces.
Property Size1,650 SF
Price / SF$187.88
Days on Market194
Property Features for 5743 S Michigan Avenue Unit 1S
General Information
Standard status
Active
Size
1,650 SF
Total Parking Spaces
2
Property subtype
Condo-Duplex
Site & Location
Neighborhood
Washington Park
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,632
Amenities
in-unit laundry
central air
hardwood floors
Building Details
Building Size
1,650 SF
Listing Agency:
Real People Realty
Listed By:
Tene' Gray
Source:
Dawnmckennagroup
Added: Apr 18
Changed: Oct 26
Last Checked: Oct 26 at 11:02PM
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 Real People Realty
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Investment Insights
Based on property information with market context.
This two-level duplex condo offers 1,650 square feet with three bedrooms and three bathrooms. The main floor combines living and dining space with a kitchen, while the lower level adds flexible living area. Hardwood floors and central air are among the interior features, and laundry is located in the unit.
The property is in Washington Park, with Hyde Park, the University of Chicago, the Obama Presidential Center, public transportation, and neighborhood parks nearby. Two assigned parking spaces are included.
The property is in Washington Park, with Hyde Park, the University of Chicago, the Obama Presidential Center, public transportation, and neighborhood parks nearby. Two assigned parking spaces are included.
Key Highlights
- Two‑level duplex condo with 1,650 square feet
- Three bedrooms and three bathrooms
- In‑unit laundry, central air, and hardwood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,293
Cap Rate
8.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$505,860
$505.9K
Cap Rate 7%
$361,329
$361.3K
Cap Rate 9%
$281,033
$281.0K
Market Conditions
NOI Build-Up for 1,650 SF
Gross rent
$48.5K $29.40/SF
− Vacancy
−$2.5K −$1.53/SF
EGI
$46.0K $27.87/SF
− OpEx
−$20.7K −$12.54/SF
NOI
$25.3K $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%
$505,860
Cap Rate 7%
$361,329
Cap Rate 9%
$281,033
Alternative Uses
Best Use
Apartment 5plus
$361.3K
$316.2K – $421.6K
NOI $25,293 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$778.0K
$680.7K – $907.6K
NOI $54,458 @ 7.0% cap · market cap 17.57%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
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Business Placement
Demographics for 60637, IL
53,555
Population
26,717
Households
2
Avg Household Size
31
Median Age
37%
College-Educated
89%
High-School Grad
4.5 sq mi
ZIP Area
11,901
Density / Sq Mi
$42,080
Median Household Income
$33,227
Median Earnings
$1,170
Median Rent
$243,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The 3-bedroom, 3-bath residence includes in-unit laundry and two assigned parking spaces.
Where is this residential income property located?
The property is located at 5743 S Michigan Avenue Unit 1S Chicago, IL.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two‑level duplex condo with 1,650 square feet; Three bedrooms and three bathrooms; In‑unit laundry, central air, and hardwood floors
