Building Details

Building Size 2,660 SF

Year Built 1891

Listing Agency: Jameson Sotheby's Int'l Realty

Listed By: Sophia Klopas · License #471009697 Show Phone

Source: Harkinsandassociates

Added: Sep 14 Changed: Sep 29 Last Checked: Oct 4 at 2:43PM

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Investment Insights

Based on property information with market context.

This 2,660-square-foot duplex occupies a classic 1891 Chicago greystone that was redone in 2019. The private entrance opens to a broad living and dining area with east-facing bay windows, hardwood floors, and abundant natural light. A custom kitchen includes stainless steel appliances, a 5-burner range, oversized island, built-in table, cabinetry, and pantry. The main level contains two bedrooms and two full baths, including a primary suite with heated bathroom floors and a walk-in shower. The lower level adds a family room, third bedroom, full bath, utility area, and storage space.

Additional features include side-by-side laundry, organized closets, a landscaped yard, private rear deck, and one garage space. Furnace and A/C were updated in 2022, while the full roof and garage roof were completed in 2019. The property is near Wicker Park restaurants, shopping, parks, and public transportation.

Key Highlights

• 2,660‑square‑foot duplex in a 1891 Chicago greystone
• Redone in 2019 with 3 bedrooms and 3 full baths
• Custom kitchen with stainless appliances, 5‑burner range, island, cabinetry, and pantry

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,776

Cap Rate

4.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$815,520 $815.5K

Cap Rate 7%

$582,514 $582.5K

Cap Rate 9%

$453,067 $453.1K

Market Conditions

NOI Build-Up for 2,660 SF

Gross rent

$78.2K $29.40/SF

− Vacancy

−$4.1K −$1.53/SF

EGI

$74.1K $27.87/SF

− OpEx

−$33.4K −$12.54/SF

NOI

$40.8K $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%

$815,520

Cap Rate 7%

$582,514

Cap Rate 9%

$453,067

Alternative Uses

Best Use

Apartment 5plus

$582.5K

$509.7K – $679.6K (±1% cap)

NOI $40,776 @ 7.0% cap · market cap 4.80%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.25M

$1.10M – $1.46M (±1% cap)

NOI $87,793 @ 7.0% cap · market cap 10.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Residential income properties

Suggested Use

Top Pick Tanning Salon Carpet & Flooring Store (Bike/Boat/Book/etc) Store Accounting Firm Farmer's Market Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

4,276

Businesses Nearby

Explore this area Business Placement

Demographics for 60622, IL

55,075

Population

27,630

Households

2

Avg Household Size

33

Median Age

73%

College-Educated

94%

High-School Grad

2.5 sq mi

ZIP Area

22,030

Density / Sq Mi

$124,852

Median Household Income

$76,180

Median Earnings

$1,932

Median Rent

$622,900

Median Home Value

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Residential income property - Classic greystone residence combines flexible two-level living with private outdoor space and a garage.

Where is this residential income property located?

The property is located at 832 N Paulina Street Unit 1 Chicago, IL.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 2,660‑square‑foot duplex in a 1891 Chicago greystone; Redone in 2019 with 3 bedrooms and 3 full baths; Custom kitchen with stainless appliances, 5‑burner range, island, cabinetry, and pantry