4500 Fullerton AveChicago, IL 60639

Property Details for 4500 Fullerton Ave

Year built

1928

Lot size

0.32 AC

Property size (Sq ft)

4,500 SF

Property type

Retail residential properties

APN

13-27-326-027

APU

1327326027

Description

This exceptional 36-unit apartment building, located at 4500 W Fullerton Ave in Chicago's Hermosa neighborhood, presents a compelling investment opportunity. The property boasts 32 residential units—comprising 12 one-bedroom/one-bathroom, 12 two-bedroom/one-bathroom, and 8 three-bedroom/one-bathroom units—and four ground-floor commercial spaces. All residential units have been cosmetically updated with modern kitchens and bathrooms. Building features include a new 1600 amp electrical service, copper plumbing throughout, and a recently installed silver-coated roof (2023). Extensive masonry and tuckpointing were completed in 2024. Each apartment has individual heating and separate meters. The building also offers an on-site laundry facility and central air conditioning for the retail units (2024). The property benefits from its location along Fullerton Avenue, providing tenants easy access to public transit and numerous retail options. A wall advertising sign on Fullerton Avenue generates additional income. An assumable Fannie Mae loan is available with a balance of $4,155,000, a 4.02% interest rate, and an April 2032 maturity date. The building's strong cash flow offers an in-place cap rate exceeding 6%, with potential for a 7.91% cap rate and over 11% cash returns through improved management and rent optimization. The total square footage is 32,800, with an asking price of $6,250,000. Two 100-gallon hot water tanks are also on site.

• CAP approach

  CAP return

  Valuation

  6%

  $1,679,672

  6.5%

  $1,550,467

  7%

  $1,439,719

• Comparable approach

  Method

  Valuation

  Relative Method

  $908,494

  Geo Method

  $908,494

• Alternative Use

  Use

  Valuation

  Residential

  $1,550,467

  Hospitality

  $1,420,219

  Educational

  $1,181,606

  Medical

  $1,222,243

  Retail

  $1,838,053

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9247

Longitude

-87.7393

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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