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    5806 S Talman Ave Chicago, IL 60629

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    For Sale
    $154,900

    Two-unit property in Gage Park with potential for cash flow.

    Property Features for 5806 S Talman Ave

    General Information

    Interior features
    Interior Feature 1, : "Natural Gas"

    Building Details

    Year built
    1908

    Source: RE/MAX Premier Agent Ryan Smith

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Gage Park Two-Unit Property

    Located in Gage Park, this two-unit property presents opportunities for various uses. The main level unit includes a kitchen, two bedrooms, and a living room. The second level unit is more spacious, featuring a larger living room, a formal dining room, three bedrooms, and one bath. The building requires updates but offers potential for generating passive cash flow as a multi-unit property. Alternatively, it could be converted into a single-family residence or used as an owner-occupied property with rental income from the other unit.
    Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6903395
    Latitude
    41.7879725

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    FAQs

    What type of property is this?
    Duplex - Two-unit property in Gage Park with potential for cash flow.
    Where is this duplex located?
    The property is located at 5806 S Talman Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $154,900.
    What are key features of this property?
    This property features: - Two-unit property in the desirable Gage Park neighborhood.; - Priced under $200K, a rare find for a multi-unit in this area.; - Potential for passive cash flow through renting both units.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5806 S Talman Ave Chicago, IL 60629
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