1629-1631 W Estes Avenue

Chicago, IL 60626

Fully leased East Rogers Park investment opportunity with projected annual income of approximately $211,200, projected NOI of approximately $151,424 and an approximate 6.81 cap rate at the $2,225,000 asking price. The recently renovated 2-bedroom is now leased at $2,550/month including $100/month for parking ($2,450 apartment rent + $100 parking). Its renovation brings it to a condition comparable to eight of the other units. The four other occupied 2-bedroom apartment rents are $1,700, $2,000, $2,000 and $2,100; one of the $2,000 units also has a separate $100/month parking charge. The newly achieved $2,450 apartment rent strongly indicates that several existing rents remain materially below the rent level now demonstrated at the property. The other 9 occupied units remain month-to-month. Importantly, the current pro forma uses rents actually in place today and includes no additional rent increases on those units; any future rent growth is additional upside. Well-maintained and substantially updated vintage 10-unit property consisting of a classic front 8-flat plus a rear 2-unit coach house. Unit mix includes 5 two-bedroom/1-bath apartments, 3 one-bedroom/1-bath apartments and 2 studio/1-bath units. Nine of the ten kitchens have been renovated with newer cabinetry and stainless-steel appliances; seven have granite countertops. Tenants pay their own gas heat and electricity, and 7 of the 10 units have central air. Additional features include replacement windows, lovingly preserved original architectural character, large decks, a beautiful backyard, basement coin laundry with 3 washers and 3 dryers, and remote-controlled gated parking with 3 legal spaces, including one tandem space, accommodating 4 cars total. Approximately 3 blocks from Lake Michigan with convenient access to public transportation, shopping, dining and neighborhood amenities.

Listing Courtesy of MRED as distributed by MLS Grid of Charles Rutenberg Realty



Based on information submitted to the MLS GRID as of 2026-11-08 10:00 PM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Last checked: 2026-11-08 10:00 PM UTC
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