400 109Th StChicago, IL 60628

Property Details for 400 109Th St

Year built

1962

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.13 AC

Property size (Sq ft)

3,360 SF

Property type

Residential income properties

Property subtype

Residential income homes

APN

25-15-407-043

APU

2515407043

Description

Exceptional investment opportunity awaits with this six-unit apartment building located at 400 E 109th St, Chicago, IL 60628. This three-story, 16,125 square foot building, constructed in 1962, offers a compelling 12.32% cap rate and a strong net operating income (NOI) of $49,272. The property features five two-bedroom, one-bathroom units and one one-bedroom, one-bathroom garden apartment, all boasting hardwood floors, spacious layouts, and large eat-in kitchens. Recent upgrades include new copper plumbing, updated electrical systems, and extensive masonry work, minimizing future maintenance costs. Residents enjoy convenient on-site laundry facilities. Five parking spaces are available at the rear of the building. Situated on a quiet, tree-lined street near Gwendolyn Brooks College Preparatory and Palmer Park, this property benefits from a highly desirable location. The building is zoned RT-4 and sits on land held under a ground lease. The asking price is $400,000, representing a price per unit of $66,666.67 and a price per square foot of $24.81. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a prime Chicago neighborhood. The property's strong cash flow and potential for appreciation make it an ideal addition to any investor's portfolio. The Cook County Assessor's Property Identification Number (APN) is 25154070430000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,338,962

  6.5%

  $1,235,965

  7%

  $1,147,682

• Comparable approach

  Method

  Valuation

  Relative Method

  $678,342

  Geo Method

  $678,342

• Alternative Use

  Use

  Valuation

  Residential

  $1,235,965

  Hospitality

  $1,132,137

  Educational

  $941,925

  Medical

  $974,319

  Retail

  $1,465,217

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.6966

Longitude

-87.6133

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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