Two-Unit Brick
7430 S Evans Avenue, Chicago, IL 60619
For Sale
New
$320,000
Separate apartments offer a two-bedroom layout with basement space and a three-bedroom second-floor residence.
Property Size1,900 SF
Days on Market3
Property Features for 7430 S Evans Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
washer/dryer
backyard
Building Details
Building Size
Year Built
Year Renovated
Buildings
Construction
Tenancy
Listing Agency:
Keller Williams ONEChicago
Listed By:
Tatiana Reed
(312) 216-2422
Source:
Kalelrealty
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 13 at 6:16PM
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 Keller Williams ONEChicago
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Investment Insights
Based on property information with market context.
Built in 1905, this brick two-flat contains two occupied apartments. The first has two bedrooms, one bathroom, a basement with an additional room, and washer and dryer. Upstairs, the second unit includes three bedrooms and one bathroom. Rehabilitation work was completed in 2021, and tuckpointing is dated 2026. The roof, hot water tank, and furnace are approximately five years old.
The property includes a backyard and a rear concrete parking pad with space for two cars. Both apartments are leased.
The property includes a backyard and a rear concrete parking pad with space for two cars. Both apartments are leased.
Key Highlights
- Two apartments: a two‑bedroom, one‑bath unit and a three‑bedroom, one‑bath unit
- First‑floor unit includes a basement with an additional room, plus washer and dryer
- Rear concrete pad accommodates two cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,125
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,500
$582.5K
Cap Rate 7%
$416,071
$416.1K
Cap Rate 9%
$323,611
$323.6K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$55.9K $29.40/SF
− Vacancy
−$2.9K −$1.53/SF
EGI
$53.0K $27.87/SF
− OpEx
−$23.8K −$12.54/SF
NOI
$29.1K $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 Rate 5%
$582,500
Cap Rate 7%
$416,071
Cap Rate 9%
$323,611
Alternative Uses
Best Use
Multifamily LT 5
$452.5K
$395.9K – $527.9K
NOI $31,673 @ 7.0% cap · market cap 9.90%
Second Best
Apartment 5plus
$416.1K
$364.1K – $485.4K
NOI $29,125 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$895.8K
$783.9K – $1.05M
NOI $62,709 @ 7.0% cap · market cap 19.60%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
Explore this area
Business Placement
Demographics for 60619, IL
63,303
Population
33,547
Households
1.9
Avg Household Size
43
Median Age
27%
College-Educated
90%
High-School Grad
6.1 sq mi
ZIP Area
10,378
Density / Sq Mi
$43,403
Median Household Income
$35,672
Median Earnings
$1,054
Median Rent
$213,000
Median Home Value
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Market
Properties on Market for Duplexes in Chicago
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate apartments offer a two-bedroom layout with basement space and a three-bedroom second-floor residence.
Where is this duplex located?
The property is located at 7430 S Evans Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two apartments: a two‑bedroom, one‑bath unit and a three‑bedroom, one‑bath unit; First‑floor unit includes a basement with an additional room, plus washer and dryer; Rear concrete pad accommodates two cars
