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38
Values dip to $482K, 39 comps reflect
Updated 13 days ago • 10 new comps
Your Investment Paths
Turnkey Rental
Based on current market data, your property shows strong rental appeal with an estimated monthly income ranging from $3,347 to $4,019. This range highlights a solid opportunity to generate consistent revenue in a competitive Chicago location. With an estimated gross rental yield of approximately 6.14%, this investment presents a stable income stream. Utilizing the median market rate of $3,600 provides a reliable benchmark for setting your monthly rent and maximizing returns.
More about this home
Neighborhood Assessment
River North is one of Chicago's most energetic downtown neighborhoods, packed with luxury condos, world-class dining, nightlife, and easy walks to the river, Loop, Mag Mile, and more. The area just hums with development, from hip restaurants to new real estate projects and high-end retail, making it a magnet for professionals who want to live where the action is. You’re also close to museums, Millennium Park, and every kind of public transit. The walkability score here is sky-high—you practically don’t need a car. Just remember: the local public schools aren’t highly rated, but most residents are here for the location and lifestyle, not K-12.
Market Activity
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Rental Income
$44K
Yield
6.1%
Year 1 Estimates
Fix-and-Flip
Refreshing your home with modern finishes creates an inviting atmosphere that captures buyer interest. While the price per square foot sits at approximately $441 compared to $452 for the broader market, updates offer undeniable lifestyle rewards. Investing in your living space enhances daily comfort and personal enjoyment. With rent potential reaching up to $4,404, these improvements help your property stand out as a premium choice, unlocking new possibilities for both owners and renters.
Comps
41
Buy-Rehab-Rent
This condo offers a strong post-renovation value between $538,000 and $594,000. With a healthy median rent of $4,182, investors can expect a solid 8.9% yield, making it an attractive prospect for a long-term rental strategy. While renovation uplift shows minimal price-per-square-foot gains, the high rental demand in this Chicago location offsets the cost. This asset remains a reliable choice for investors seeking steady cash flow within a prime urban market.
Rental Income
$50K
Yield
8.9%
Year 1 Estimates, Post Typical Renovation
Asking price
$1.6M
$1.1M over comp median
Comparative Market Analysis
$380K – $685K
~34 days to sell
Based on 8 comps
401 N Wabash Ave #84-G, Chicago Investment Report: Flip & Rental Analysis · Frontflip