Duplex Down with Soaring
For Sale
$855,000
626 W Buckingham Place Unit 1E, Chicago, IL 60657
East Lakeview duplex down with an updated kitchen, in-unit laundry, private deck, and assigned onsite parking.
Property Size2,000 SF
Price / SF$427.50
Days on Market32
Property Features for 626 W Buckingham Place Unit 1E
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
1
Property subtype
Condo-Duplex
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$11,523
Amenities
in-unit laundry
private deck
Building Details
Building Size
2,000 SF
Year Built
1901
Listing Agency:
Berkshire Hathaway HomeServices Chicago
(847) 492-9660
Listed By:
Yakov Dvora
Source:
Cnetproperties
Added: Jul 22
Changed: Aug 15
Last Checked: Aug 22 at 12:11PM
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 Berkshire Hathaway HomeServices Chicago
Investment Insights
Based on property information with market context.
This East Lakeview duplex down offers approximately 2,000 square feet of thoughtfully designed living space. The home features soaring 20-foot ceilings and an open floor plan connecting the living, dining, and kitchen areas. The updated chef’s kitchen includes high-end stainless steel appliances, quartz countertops, abundant cabinetry, and a spacious breakfast bar. Three generously sized bedrooms provide flexibility for guests, family, or a home office, and the home includes three beautifully updated bathrooms for style and day-to-day convenience. In-unit laundry and a private deck add everyday practicality and space for outdoor downtime.
An assigned onsite parking space is included, with the option to install an EV charger. The home is located in the heart of East Lakeview and is just moments from Lake Michigan, Belmont Harbor, and the lakefront trail. Commuting is supported by easy access to the CTA Brown, Purple, and Red Lines.
Built in 1901, this duplex down is positioned for residents who want a distinctive layout, modern finishes, and close access to neighborhood dining and recreation.
An assigned onsite parking space is included, with the option to install an EV charger. The home is located in the heart of East Lakeview and is just moments from Lake Michigan, Belmont Harbor, and the lakefront trail. Commuting is supported by easy access to the CTA Brown, Purple, and Red Lines.
Built in 1901, this duplex down is positioned for residents who want a distinctive layout, modern finishes, and close access to neighborhood dining and recreation.
Key Highlights
- Approximately 2,000 SF duplex down layout with an open living, dining, and kitchen plan
- Soaring 20‑foot ceilings and updated chef’s kitchen with quartz countertops
- Three bedrooms with ample closet space and three updated bathrooms
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
$30,658
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
3.59%
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%
$613,160
$613.2K
Cap Rate 7%
$437,971
$438.0K
Cap Rate 9%
$340,644
$340.6K
Market Conditions
NOI Build-Up for 2,000 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
$58.8K $29.40/SF
− Vacancy
−$3.1K −$1.53/SF
EGI
$55.7K $27.87/SF
− OpEx
−$25.1K −$12.54/SF
NOI
$30.7K $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%
$613,160
Cap Rate 7%
$437,971
Cap Rate 9%
$340,644
Alternative Uses
Best Use
Apartment 5plus
$438.0K
$383.2K – $511.0K
NOI $30,658 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$943.0K
$825.1K – $1.10M
NOI $66,010 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,830
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - East Lakeview duplex down with an updated kitchen, in-unit laundry, private deck, and assigned onsite parking.
Where is this residential income property located?
The property is located at 626 W Buckingham Place Unit 1E Chicago, IL.
What is the asking price?
The asking price for this property is $855,000.
What are key features of this property?
This property features: Approximately 2,000 SF duplex down layout with an open living, dining, and kitchen plan; Soaring 20‑foot ceilings and updated chef’s kitchen with quartz countertops; Three bedrooms with ample closet space and three updated bathrooms
