Five-Unit Apartment
New
For Sale
$2,000,000
843 W Roscoe Street, Chicago, IL 60657
Brick apartment property with a separate coach house, vintage details, and tenant-paid individually metered utilities.
Property Size5,500 SF
Days on Market7
Property Features for 843 W Roscoe Street
General Information
Standard status
Active
Size
5,500 SF
Property subtype
Commercial
Zoning
MULTI
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA, 1 x 4BR/2BA
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$40,583
Amenities
on-site coin laundry
decks
shared patio
fireplaces
built-ins
original trim/doors
hardwood floors
central A/C
Building Details
Building Size
5,500 SF
Year Built
1888
Buildings
2
Stories
3
Units
5
Construction
brick
Listing Agency:
Brak Realty Inc.
(773) 477-7300
Listed By:
Brian Brak
(773) 477-7300
Source:
Perillorealestategroup
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 22 at 2:30PM
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 Brak Realty Inc.
Investment Insights
Based on property information with market context.
Built in 1888, this MULTI-zoned apartment property includes a primary brick building and a separate coach house with five units in total. The front structure contains three two-bedroom, one-bath apartments and an unfinished basement. The coach house adds one one-bedroom, one-bath unit and one four-bedroom, two-bath unit, along with a second unfinished basement. Four apartments have central A/C, while gas and electric service are independently metered and paid by tenants.
Located at 843 W Roscoe Street in Chicago’s East Lakeview, the property is on a tree-lined street and has been held by the same ownership for 57 years. Resident amenities include coin-operated laundry in the basement, decks, and a shared patio. Interior details include fireplaces, built-in cabinetry, original trim and doors, and hardwood flooring.
Located at 843 W Roscoe Street in Chicago’s East Lakeview, the property is on a tree-lined street and has been held by the same ownership for 57 years. Resident amenities include coin-operated laundry in the basement, decks, and a shared patio. Interior details include fireplaces, built-in cabinetry, original trim and doors, and hardwood flooring.
Key Highlights
- Five total units across a front building and separate coach house
- Front building includes three 2 bed/1 bath units and an unfinished basement
- Coach house contains 1 bed/1 bath and 4 bed/2 bath units
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
$84,310
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
4.22%
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%
$1,686,200
$1.7M
Cap Rate 7%
$1,204,429
$1.2M
Cap Rate 9%
$936,778
$936.8K
Market Conditions
NOI Build-Up for 5,500 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
$161.7K $29.40/SF
− Vacancy
−$8.4K −$1.53/SF
EGI
$153.3K $27.87/SF
− OpEx
−$69.0K −$12.54/SF
NOI
$84.3K $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%
$1,686,200
Cap Rate 7%
$1,204,429
Cap Rate 9%
$936,778
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.41M
NOI $84,310 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.59M
$2.27M – $3.03M
NOI $181,526 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
6,518
Businesses Nearby
Explore this area
Business Placement
Demographics for 60657, IL
72,316
Population
42,246
Households
1.7
Avg Household Size
32
Median Age
87%
College-Educated
99%
High-School Grad
2.2 sq mi
ZIP Area
32,871
Density / Sq Mi
$109,025
Median Household Income
$77,731
Median Earnings
$1,839
Median Rent
$534,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Brick apartment property with a separate coach house, vintage details, and tenant-paid individually metered utilities.
Where is this apartment building located?
The property is located at 843 W Roscoe Street Chicago, IL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Five total units across a front building and separate coach house; Front building includes three 2 bed/1 bath units and an unfinished basement; Coach house contains 1 bed/1 bath and 4 bed/2 bath units
