Three-Unit Brick with Tandem
820 North Monticello Avenue Chicago, IL 60651
820 North Monticello Avenue, Chicago, IL, 60651
$669,999
For Sale
$669,999
Legal 3-unit brick building paired with a separately deeded, fenced lot and a new spray-foam insulated tandem garage loft.
Property Size2,475 SF
Price / SF$270.71
Days on Market74
Property Features for 820 North Monticello Avenue
General Information
- Standard status
- Active
- Size
- 2,475 SF
- Property subtype
- Two to Four Units / 3 Flat
Building Details
- Year Built
- 1910
Listing agency
Real People Realty
(708) 724-5342
Listed by
Joseph Reyna · License #475190664
(708) 724-5342
Source
Compass
Added: May 9 Updated: Jul 20 at 5:39PM Checked: Jul 21 at 6:11AM
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 Real People Realty
Investment Insights
Based on property information with market context.
820 North Monticello Avenue offers a legal 3-unit brick building with an additional separately deeded and fenced lot next door at 822 N. Monticello Avenue. Improvements include a new, oversized tandem parking garage and loft. The garage and loft are spray foam insulated, designed as usable all-weather living space.
The property is currently fully occupied, and showings require the listing agent to accompany. A viewing will allow you to review the unit layouts, the garage/loft configuration, and the value of the adjacent lot as part of your plans for the asset.
The property is currently fully occupied, and showings require the listing agent to accompany. A viewing will allow you to review the unit layouts, the garage/loft configuration, and the value of the adjacent lot as part of your plans for the asset.
Key Highlights
- Legal 3‑unit brick building built in 1910
- Paired with a separately deeded, fenced lot next door at 822 N. Monticello Avenue
- New oversized tandem parking garage with loft space
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.4k | $25.20 |
| − Vacancy | −$3.4k | −$1.39 |
| EGI | $58.9k | $23.81 |
| − OpEx | −$17.7k | −$7.14 |
| NOI | $41.3k | $16.67 |
2,475 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$589.4K
$515.7K – $687.6K
NOI $41,258 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$542.0K
$474.3K – $632.3K
NOI $37,940 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,687 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Legal 3-unit brick building paired with a separately deeded, fenced lot and a new spray-foam insulated tandem garage loft.
Where is this triplex located?
The property is located at 820 North Monticello Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $669,999.
What are key features of this property?
This property features: Legal 3‑unit brick building built in 1910; Paired with a separately deeded, fenced lot next door at 822 N. Monticello Avenue; New oversized tandem parking garage with loft space
