6-Unit Brick Apartment
For Sale
$750,000
714 W 30th Street, Chicago, IL 60616
MULTI-zoned brick property with three occupied apartments and substantial rehabilitation needs, offered in as-is condition.
Property Size3,266 SF
Days on Market42
Property Features for 714 W 30th Street
General Information
Standard status
Active
Size
3,266 SF
Property subtype
Commercial
Zoning
MULTI
Property Condition
Severity
Major Repairs Needed
Evidence
in need of extensive rehabilitation
Units
Unit Mix
2 x 2BR/1BA, 2 x 3BR/1BA, 2 x 1BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$10,662
Building Details
Building Size
3,266 SF
Year Built
1893
Buildings
1
Stories
3
Units
6
Construction
brick
Listing Agency:
Century 21 Circle
(708) 656-2233
Listed By:
Donna Navickas · License #475152404
Source:
Jjillrealtygroup
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 25 at 9:20AM
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 Century 21 Circle
Investment Insights
Based on property information with market context.
This 3-story brick apartment building contains 6 units within 2100 square feet and was built in 1893. The unit mix includes two 2-bedroom, 1-bath apartments, two 3-bedroom, 1-bath apartments, and two garden units with 1 bedroom and 1 bath each. Three apartments are currently rented, while the remaining units require extensive rehabilitation and are not all habitable. The property is being sold as-is.
Located at 714 West 30th Street in Chicago, the building is near restaurants, shops, and businesses along Halsted Street. MULTI zoning supports its apartment-building classification. Open city violations remain in place, and the buyer must assume those violations at closing.
Located at 714 West 30th Street in Chicago, the building is near restaurants, shops, and businesses along Halsted Street. MULTI zoning supports its apartment-building classification. Open city violations remain in place, and the buyer must assume those violations at closing.
Key Highlights
- 3‑story brick building with 6 apartment units
- Unit mix includes two 2‑bedroom, 1‑bath units, two 3‑bedroom, 1‑bath units, and two 1‑bedroom, 1‑bath garden units
- Three units are currently rented
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
$50,065
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
6.68%
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%
$1,001,300
$1.0M
Cap Rate 7%
$715,214
$715.2K
Cap Rate 9%
$556,278
$556.3K
Market Conditions
NOI Build-Up for 3,266 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
$96.0K $29.40/SF
− Vacancy
−$5.0K −$1.53/SF
EGI
$91.0K $27.87/SF
− OpEx
−$41.0K −$12.54/SF
NOI
$50.1K $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%
$1,001,300
Cap Rate 7%
$715,214
Cap Rate 9%
$556,278
Alternative Uses
Best Use
Apartment 5plus
$715.2K
$625.8K – $834.4K
NOI $50,065 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,794 @ 7.0% cap · market cap 14.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,217
Businesses Nearby
Explore this area
Business Placement
Demographics for 60616, IL
54,013
Population
26,912
Households
2
Avg Household Size
38
Median Age
53%
College-Educated
86%
High-School Grad
3.8 sq mi
ZIP Area
14,214
Density / Sq Mi
$77,841
Median Household Income
$53,415
Median Earnings
$1,329
Median Rent
$387,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - MULTI-zoned brick property with three occupied apartments and substantial rehabilitation needs, offered in as-is condition.
Where is this apartment building located?
The property is located at 714 W 30th Street Chicago, IL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3‑story brick building with 6 apartment units; Unit mix includes two 2‑bedroom, 1‑bath units, two 3‑bedroom, 1‑bath units, and two 1‑bedroom, 1‑bath garden units; Three units are currently rented
