2744 S Millard Ave - Apartments FOR SALE


Chicago, IL 60623- Little Village
$575,000 USD
615-804-4905
2744 S Millard Ave, Chicago, IL for Sale
$575,000 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate

2744 S Millard Ave
Chicago, IL 60623
Little Village


HIGHLIGHTS

  • Comprises 6 residential units with a total of 12 bedrooms and 6 bathrooms.
  • Situated on a 4,500-square-foot lot in the South Lawndale neighborhood.
  • Located in a walkable area with good public transit access and nearby amenities.
  • Positioned in a dense residential community with proximity to schools, parks, and local retail options.

OVERVIEW

Exceptionally spacious legal six unit! Oversized lot, Over 6000 sf interior, Generous front units feature three bedrooms, one bath. Comfortable rear units feature one bedroom, updated kitchens and baths. All hardwood floors, All masonry property, Beautiful vintage details, newer windows, great light. Expansive full lengthattic presents opportunity for two additional units. Full unfinished basement. 3/4 car parking in rear uncovered. Projected stabilized rents of approx. $1,750/month for the larger 3-bedroom units and $1,350/month for the 1-bedroom units, estimated gross scheduled income is approx. $111,600/year. After a 5% vacancy factor and estimated owner-paid expenses including taxes, insurance, water/trash, repairs, and reserves, projected stabilized NOI is approximately $69,000–$74,000, implying an estimated 12.0%–12.9% cap rate at list. Nearby 26th Street corridor reinvestment, including Xquina Incubator & Café, Savannah Square, and small-business/corridor improvement initiatives, further supports the long-term rental-demand thesis. Estate sale. Rare opportunity to cash flow immediately. One unit occupied (2R) by long time tenant.

FOR SALE DETAILS

PRICE

$575,000 USD

PRICE/SF

$128 USD /SF

# OF UNITS

6

PRICE/UNIT

$95,833

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1906

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

RT-4

APN/PARCEL ID

16-26-314-038-0000,16-26-314-039-0000

ASK ABOUT THIS PROPERTY

Kristin Bird26994597More Info
615-804-4905

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Kristin Bird26994597More Info
615-804-4905

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.