Two-Unit Frame
For Sale
$325,000
7521 S Ellis Avenue, Chicago, IL 60619
Two residential units offer matching three-bedroom layouts, with one occupied and the other available for a new resident.
Property Size1,760 SF
Price / SF$184.66
Days on Market53
Property Features for 7521 S Ellis Avenue
General Information
Standard status
Active
Size
1,760 SF
Property subtype
MULTI_FAMILY
Site & Location
Neighborhood
Grand Crossing
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,000
Building Details
Year Built
1888
Buildings
1
Construction
frame
Listing Agency:
Realty of America, LLC
Listed By:
Perdure Carter · License #471009363
(312) 502-7205
Source:
Dawnmckennagroup
Added: Sep 2
Changed: Oct 21
Last Checked: Oct 23 at 1:19PM
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 Realty of America, LLC
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Investment Insights
Based on property information with market context.
This two-unit frame duplex, built in 1888, contains approximately 1,760 square feet. Each residence is arranged with 3 bedrooms and 1 full bathroom, creating a combined total of 6 bedrooms and 2 bathrooms. The property also includes a full unfinished basement that provides additional interior space for future planning.
The first-floor residence is leased, while the second-floor unit is vacant. This configuration accommodates an owner occupant seeking a separate income-producing unit or an investor planning to lease both apartments. The property is located at 7521 S Ellis Avenue in Chicago, Illinois 60619.
The first-floor residence is leased, while the second-floor unit is vacant. This configuration accommodates an owner occupant seeking a separate income-producing unit or an investor planning to lease both apartments. The property is located at 7521 S Ellis Avenue in Chicago, Illinois 60619.
Key Highlights
- Two‑unit frame duplex built in 1888
- Approximately 1,760 square feet across both units
- Each unit includes 3 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,339
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,780
$586.8K
Cap Rate 7%
$419,129
$419.1K
Cap Rate 9%
$325,989
$326.0K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$44.4K $25.20/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$41.9K $23.81/SF
− OpEx
−$12.6K −$7.14/SF
NOI
$29.3K $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 Rate 5%
$586,780
Cap Rate 7%
$419,129
Cap Rate 9%
$325,989
Alternative Uses
Best Use
Multifamily LT 5
$419.1K
$366.7K – $489.0K
NOI $29,339 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$385.4K
$337.2K – $449.7K
NOI $26,979 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$829.8K
$726.1K – $968.1K
NOI $58,088 @ 7.0% cap · market cap 17.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,060
Businesses Nearby
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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
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer matching three-bedroom layouts, with one occupied and the other available for a new resident.
Where is this duplex located?
The property is located at 7521 S Ellis Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit frame duplex built in 1888; Approximately 1,760 square feet across both units; Each unit includes 3 bedrooms and 1 full bathroom
