4901 St Louis AveChicago, IL 60625

Property Details for 4901 St Louis Ave

Year built

1929

Lot size

0.36 AC

Property size (Sq ft)

35,759 SF

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a stabilized 52-unit multifamily portfolio ideally situated in two high-demand Chicago rental locations: Albany Park and near Loyola University. The portfolio comprises two buildings, totaling 35,759 square feet on a combined 0.36 acres. Built in 1929, both properties boast recently tuck-pointed exteriors and updated electrical systems, including newer service panels. Each building offers convenient in-unit laundry facilities and bike storage, enhancing tenant appeal. The unit mix is highly desirable, including a combination of studios, one-bedroom, and two-bedroom apartments. Common areas have undergone recent renovations. The portfolio currently generates a NOI of $573,215, representing a 6.44% cap rate, with a pro-forma NOI of $649,754 and a pro-forma cap rate of 7.30%. The asking price is $8,900,000, translating to $171,153.85 per unit and $248.89 per square foot. This presents a compelling investment with significant potential for rent growth in a prime location near multiple college campuses and secured outdoor tenant common areas. The buildings feature baseboard and boiler heating systems. Roof condition is unknown for both buildings. This is a ground lease-free opportunity.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9704

Longitude

-87.7155

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