11136 Vernon AveChicago, IL 60628

Property Details for 11136 Vernon Ave

Year built

1923

Property size (Sq ft)

6,500 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a recently renovated six-unit apartment building located at 11136 S. Vernon Ave, Chicago, IL 60628. The property, built in 1923 and completely renovated in 2024, boasts 6,500 square feet across three stories. Currently generating a Net Operating Income (NOI) of $72,388, this Class C building offers a compelling 10.05% cap rate at an asking price of $720,000 ($110.77 per square foot). Pro-forma NOI is projected at $81,458, increasing the cap rate to an impressive 11.31%. The property features six units and is situated in the Roseland neighborhood, benefiting from a strong local market with a population of 130,488 within a three-mile radius, an average household income of $64,361, and a median home value of $145,440. The current monthly gross income is $7,950, with potential for increases to $8,800. This multifamily property offers a blend of immediate income and significant potential for future growth, making it an attractive addition to any investment portfolio. The Cook County Assessor's Parcel Number (APN) is 25-22-200-027-0000. This is a turnkey investment opportunity with recent renovations completed, strong current performance, and significant upside potential.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.6916

Longitude

-87.6125

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