4431-4433 N Racine Ave - Apartments FOR SALE


Chicago, IL 60640- Uptown Chicago
$2,232,000 USD
312-423-7934
4431-4433 N Racine Ave, Chicago, IL for Sale
$2,232,000 USD
Apartments - FOR SALE
1/23
null | 6.15% Cap Rate

4431-4433 N Racine Ave
Chicago, IL 60640
Uptown Chicago


HIGHLIGHTS

  • 6-unit building with 5 parking spaces + approved permits and plans for 2 additional ADU units.
  • New HVAC systems installed throughout the building (2025).
  • Opportunity to add 2 additional basement units as a value-add, approved by city of Chicago. We have permits and architectural/MEP plans in hands.
  • Unit mix: 4 x 3BD/2BA (1,350-1,500 SF), 2 x 4BD/2BA (1,500 SF) plus 2 additional ADU units (1BD/1BA & 2BD/1BA).
  • NOI: $137,259 (Market NOI: $191,671), CAP: 6.15%, Asking Price: $2,232,000.

OVERVIEW

Rare opportunity to acquire a fully renovated, income-producing multifamily property in Chicago's highly desirable Uptown neighborhood. This well-maintained asset consists of 6 spacious apartments and 5 on-site parking spaces, with a significant value-add component through city-approved plans for 2 additional ADU units in the basement. The property has undergone extensive capital improvements, including a complete upgrade of the heating and cooling systems to modern HVAC throughout all units in late 2025. Interiors feature ultra-modern kitchens with stainless steel appliances, beautifully renovated bathrooms, abundant natural light, and contemporary finishes designed to attract and retain quality tenants. Current rents exceed $2,600 per unit, providing strong in-place income with additional upside through continued rent optimization and the future ADU expansion. Ownership has already secured city approvals, permits, and architectural/MEP plans for the basement conversion, allowing a new owner to immediately pursue development of the additional units. Ideally located just minutes from the Wilson Red Line station, the property offers convenient access to downtown Chicago while benefiting from Uptown's vibrant dining, entertainment, and retail scene. Nearby attractions include Truman College, local cafes, restaurants, and neighborhood amenities that continue to drive strong rental demand. This offering presents a compelling combination of stabilized income, recent capital improvements, and immediate expansion potential in one of Chicago's most dynamic rental submarkets.

FOR SALE DETAILS

PRICE

$2,232,000 USD

PRICE/SF

$263 USD /SF

# OF UNITS

6

PRICE/UNIT

$372,000

CAP RATE

6.15%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Exceptional Value-Add Multifamily Opportunity

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1903

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

RT-4

APN/PARCEL ID

14-17-224-005-0000

ASK ABOUT THIS PROPERTY

Anastasiia LytvynUniconte LLCMore Info
312-423-7934

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Anastasiia LytvynUniconte LLCMore Info
312-423-7934

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