Updated Residential Income
For Sale
$485,000
930 W Agatite Avenue #G, Chicago, IL 60640
Open-concept condominium with refreshed finishes, private deck access, and one included parking space.
Property Size1,800 SF
Price / SF$269.44
Days on Market45
Property Features for 930 W Agatite Avenue #G
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
fireplace
community deck
Jacuzzi tub
Central Air
Forced Air
Natural Gas
Range
Microwave
Dishwasher
Refrigerator
Washer
Dryer
Disposal
Stainless Steel Appliance(s)
Deck
Building Details
Year Built
1910
Listing Agency:
Baird & Warner
Listed By:
Hadley Rue · License #475165252
(312) 265-8000
Source:
Kw
Added: Jul 21
Changed: Aug 29
Last Checked: Sep 3 at 5:26AM
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 Baird & Warner
Investment Insights
Based on property information with market context.
This 1,800-square-foot condominium at 930 W Agatite Avenue #G features an open interior with new hardwood flooring, 8-foot ceilings, and fresh paint. The living room includes a fireplace, large windows, and southern exposure. A renovated kitchen is equipped with new quartz countertops, stainless steel appliances, tile backsplash, extensive cabinetry, and a breakfast bar opening to the dining and living areas.
The primary suite has separate closets and an ensuite bathroom with a double vanity, Jacuzzi tub, and separate shower. Additional bedrooms provide generous proportions and closet storage. The home also includes central air, forced-air heating, natural gas service, in-unit washer and dryer, and private access to a community deck. One parking space is included. Lake Michigan’s lakefront and area parks are located just blocks away. The water heater was replaced in 2022 and the furnace in 2023.
The primary suite has separate closets and an ensuite bathroom with a double vanity, Jacuzzi tub, and separate shower. Additional bedrooms provide generous proportions and closet storage. The home also includes central air, forced-air heating, natural gas service, in-unit washer and dryer, and private access to a community deck. One parking space is included. Lake Michigan’s lakefront and area parks are located just blocks away. The water heater was replaced in 2022 and the furnace in 2023.
Key Highlights
- 1,800‑square‑foot open‑concept condominium with 8‑foot ceilings
- New hardwood flooring, quartz kitchen countertops, and fresh interior paint
- Primary suite with separate closets, double vanity, Jacuzzi tub, and separate shower
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
$27,592
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
5.69%
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%
$551,840
$551.8K
Cap Rate 7%
$394,171
$394.2K
Cap Rate 9%
$306,578
$306.6K
Market Conditions
NOI Build-Up for 1,800 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
$52.9K $29.40/SF
− Vacancy
−$2.8K −$1.53/SF
EGI
$50.2K $27.87/SF
− OpEx
−$22.6K −$12.54/SF
NOI
$27.6K $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%
$551,840
Cap Rate 7%
$394,171
Cap Rate 9%
$306,578
Alternative Uses
Best Use
Apartment 5plus
$394.2K
$344.9K – $459.9K
NOI $27,592 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$848.7K
$742.6K – $990.2K
NOI $59,409 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,269
Businesses Nearby
Explore this area
Business Placement
Demographics for 60640, IL
65,941
Population
40,850
Households
1.6
Avg Household Size
38
Median Age
63%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
27,475
Density / Sq Mi
$71,030
Median Household Income
$59,264
Median Earnings
$1,374
Median Rent
$363,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-concept condominium with refreshed finishes, private deck access, and one included parking space.
Where is this residential income property located?
The property is located at 930 W Agatite Avenue #G Chicago, IL.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 1,800‑square‑foot open‑concept condominium with 8‑foot ceilings; New hardwood flooring, quartz kitchen countertops, and fresh interior paint; Primary suite with separate closets, double vanity, Jacuzzi tub, and separate shower
