5419 Wabash AveChicago, IL 60615

Property Details for 5419 Wabash Ave

Year built

1908

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.11 AC

Property size (Sq ft)

3,096 SF

Property type

Residential income properties

Property subtype

Residential income homes

APN

20-10-309-027

APU

2010309027

Description

This fully renovated three-unit Greystone building, located at 5419 S Wabash Ave in Chicago's Washington Park neighborhood, presents a compelling investment opportunity. Built in 1908 and extensively renovated in 2023, this property boasts 4,082 square feet on a 4,830 square foot lot, with 3,900 square feet of net rentable space. The building features a desirable unit mix: one two-bedroom, two-bathroom unit and two three-bedroom, two-bathroom units. Each unit is equipped with modern amenities including individual HVAC systems, 40-gallon water heaters, in-unit washer/dryers, and updated copper plumbing. Significant upgrades during the 2023 renovation included new windows, upgraded electrical service (600 amp service with updated panels), and roof repairs. Tuckpointing was also completed. Tenants are responsible for their own utilities (electric, gas, and heat), minimizing owner maintenance. The property offers three parking spaces and a spacious backyard. Zoned RT-4, this property is situated near the University of Chicago and benefits from convenient access to public transportation. The asking price is $770,000, representing a price per square foot of $188.63 and a price per unit of $256,666.67. This classic Greystone combines historic architectural details with modern conveniences, making it an exceptional investment in a thriving Chicago market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,233,758

  6.5%

  $1,138,854

  7%

  $1,057,507

• Comparable approach

  Method

  Valuation

  Relative Method

  $625,044

  Geo Method

  $625,044

• Alternative Use

  Use

  Valuation

  Residential

  $1,138,854

  Hospitality

  $1,043,184

  Educational

  $867,917

  Medical

  $897,766

  Retail

  $1,350,092

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7959

Longitude

-87.6236

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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