Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3653 Barry Ave Chicago, IL 60618

    • Apartment buildings
    • 15,754 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 3653 Barry Ave

    Year built
    2022
    Property size
    15,754 SF
    Property type
    Apartment buildings

    Description

    This exceptional 8-unit Class A apartment building, constructed in 2022, presents a compelling value-add investment opportunity in Chicago's desirable Avondale neighborhood. Boasting 100% occupancy and a current NOI of $262,488, this property offers a 6.10% cap rate with a pro-forma cap rate of 7.34%. The building encompasses 15,754 square feet on a 2,607 square foot lot and features a four-story design with elevator access. Each of the eight units includes three bedrooms and two bathrooms, showcasing high-end finishes, designer kitchens, spacious bedrooms, custom closets, and private balconies. Residents enjoy dedicated parking in a detached garage. The building's prime location near Logan Square provides convenient access to a vibrant array of dining, entertainment, and shopping options. The property is zoned B2-2 and has an asking price of $4,299,999, translating to $537,499.88 per unit and $272.95 per square foot. The projected NOI after improvements is $315,500. This turnkey investment offers a stable return and significant upside potential in a highly sought-after Chicago location. The Cook County APN is 13-26-111-014-0000. The property's address is 3653 W. Barry Ave, Chicago, IL 60618.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7194
    Latitude
    41.9372

    Comparable in this City

    • Value Estimation by Request

      2205 Roscoe St

      Multifamily properties
      2205 Roscoe St, Chicago, IL 60618
      View Details
    • Value Estimation
      $330,000
      0.14 Acres

      3700 Central Park Ave

      APARTMENT HOUSE (5+ UNITS) • 0.14 Acres
      3700 Central Park Ave, Chicago, IL 60618
      View Details
    • Value Estimation
      $305,000
      0.13 Acres

      3609 Hoyne Ave

      APARTMENT HOUSE (5+ UNITS) • 0.13 Acres
      3609 Hoyne Ave, Chicago, IL 60618-5076
      View Details
    • Value Estimation
      $290,000
      8,400 SF

      3241 Damen Ave, Unit 43

      APARTMENT HOUSE (5+ UNITS) • 8,400 SF
      3241 Damen Ave, Chicago, IL 60618-6348
      View Details
    • Value Estimation by Request
      6,750 SF

      2329 Belmont Ave

      Individual retail properties • 6,750 SF
      2329 Belmont Ave, Chicago, IL 60618
      View Details
    • Value Estimation by Request
      10,434 SF

      3024 Addison St

      Multifamily properties • 10,434 SF
      3024 Addison St, Chicago, IL 60618
      View Details

    Similar Nearby for Sale

    • $4,299,000
      0.10 Acres

      Mixed-Use Property in Chicago

      Five apartment units plus storefront with business and equipment included.
      3759 N Damen Ave, Chicago, IL 60618
      View Details
    • $1,695,000
      0.25 Acres

      Roscoe Village Multifamily Investment

      4-Unit Building, Prime Location, High ROI
      2239 Cornelia Ave, Chicago, IL 60618
      View Details
    • $1,199,000
      3,451 SF

      Roscoe Village Mixed-Use Building

      Prime Roscoe Village location, 3-unit building.
      3341 Western Ave, Chicago, IL 60618
      View Details
    • $279,000

      Irving Park Top Floor Condo

      Sun-soaked 2 bed, 1 bath condo near Horner Park.
      4023 N Mozart St, Chicago, IL 60618
      View Details
    • $624,900
      0.08 Acres

      Residential Income Property in Chicago

      Three-story, two-unit building with unfinished basement and two-car garage.
      4207 N Drake Ave, Chicago, IL 60618
      View Details
    • $889,500
      0.06 Acres

      Mixed-Use Building in North Center

      Mixed-use building in North Center/Lincoln Square with storefront and apartments.
      4351 N Western Ave, Chicago, IL 60618
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1 SF

      Lincoln Ave Retail Space Chicago

      Prime Chicago Retail, 1 sq ft Available
      4010 Lincoln Ave, Chicago, IL 60618
      View Details
    • $1,700 /Mo
      844 SF

      South-Facing Condo with Modern Amenities

      Sunny condo near amenities with fireplace, deck, and in-unit laundry.
      3216 W Berteau Ave, Chicago, IL 60618
      View Details
    • $2,000 /Mo

      Updated Apartment in Chicago

      Updated apartment with modern amenities and landscaped yards in Chicago.
      3330 W Hutchinson St, Chicago, IL 60618
      View Details
    • $2,000 /Mo

      Spacious Apartment with Classic Details

      Two-bedroom apartment with hardwood floors, updated kitchen and bath.
      4226 N Sawyer Ave, Chicago, IL 60618
      View Details
    • $3,350 /Mo

      New Construction Luxury Apartment

      New construction 2 bed, 2 bath apartment with modern amenities.
      2514 W Addison St, Chicago, IL 60618
      View Details
    • $2,470 /Mo

      Avondale Loft-Style Apartment

      Stunning 2BD/1.5BA apartment in the heart of Avondale!
      3123 N California Ave, Chicago, IL 60618
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3653 Barry Ave
    Chicago, IL 60618
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.