Updated Greystone
For Sale
$384,999
6018 S Sangamon St, Chicago, IL 60621
Two-unit residential property with distinct bedroom layouts, refreshed systems, and separate utility panels.
Property Size1,300 SF
Price / SF$296.15
Days on Market41
Property Features for 6018 S Sangamon St
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
shared laundry area
yard
Building Details
Year Built
1910
Buildings
1
Construction
greystone
Listing Agency:
Lpt Realty
(708) 337-2385
Listed By:
Bobby Grilli · License #471003290
(708) 337-2385
Source:
Grillimurphyrealestate
Added: Jul 19
Changed: Aug 28
Last Checked: Aug 26 at 12:39PM
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 Lpt Realty
Investment Insights
Based on property information with market context.
This 1910 greystone duplex contains two residential units with distinct layouts. The first includes 2 bedrooms and 1 bathroom, while the second offers 3 bedrooms and 1 bathroom. Both residences feature updated mechanical systems, new appliances, LVP flooring, and contemporary kitchen finishes including quartz countertops, custom cabinetry, and stainless steel appliances.
The unfinished basement provides shared laundry space and separate utility panels for each unit. A maintained, low-maintenance yard completes the exterior. Located at 6018 S Sangamon St in Chicago, IL 60621, the property presents a two-unit configuration suited to either an owner-occupant arrangement or rental ownership, as supported by the existing unit mix.
The unfinished basement provides shared laundry space and separate utility panels for each unit. A maintained, low-maintenance yard completes the exterior. Located at 6018 S Sangamon St in Chicago, IL 60621, the property presents a two-unit configuration suited to either an owner-occupant arrangement or rental ownership, as supported by the existing unit mix.
Key Highlights
- Two‑unit greystone property built in 1910
- Unit 1 includes 2 bedrooms and 1 bathroom
- Unit 2 includes 3 bedrooms and 1 bathroom
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
$21,671
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
5.63%
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%
$433,420
$433.4K
Cap Rate 7%
$309,586
$309.6K
Cap Rate 9%
$240,789
$240.8K
Market Conditions
NOI Build-Up for 1,300 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
$32.8K $25.20/SF
− Vacancy
−$1.8K −$1.39/SF
EGI
$31.0K $23.81/SF
− OpEx
−$9.3K −$7.14/SF
NOI
$21.7K $16.67/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$433,420
Cap Rate 7%
$309,586
Cap Rate 9%
$240,789
Alternative Uses
Best Use
Multifamily LT 5
$309.6K
$270.9K – $361.2K
NOI $21,671 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$284.7K
$249.1K – $332.1K
NOI $19,928 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$612.9K
$536.3K – $715.1K
NOI $42,906 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Explore this area
Business Placement
Demographics for 60621, IL
29,570
Population
15,348
Households
1.9
Avg Household Size
36
Median Age
12%
College-Educated
78%
High-School Grad
3.8 sq mi
ZIP Area
7,782
Density / Sq Mi
$33,235
Median Household Income
$29,961
Median Earnings
$1,017
Median Rent
$161,900
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?
Duplex - Two-unit residential property with distinct bedroom layouts, refreshed systems, and separate utility panels.
Where is this duplex located?
The property is located at 6018 S Sangamon St Chicago, IL.
What is the asking price?
The asking price for this property is $384,999.
What are key features of this property?
This property features: Two‑unit greystone property built in 1910; Unit 1 includes 2 bedrooms and 1 bathroom; Unit 2 includes 3 bedrooms and 1 bathroom
