Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    10947 S King Dr Chicago, IL 60628

    Under Contract
    For Sale
    $475,000

    Commercial Sale - Chicago, IL

    Days on Market:
    24
    Last Refresh:
    Dec 10 at 5:06 am

    Property Features for 10947 S King Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    25154110100000

    Building Details

    Year built
    1924
    Number of units
    6
    Architectural style
    Other

    Keller Williams Chicago ONEChicago (312) 216-2422 [email protected]

    Listing agent Anthony Hardy (312) 216-2422 License #475139834

    Listing date Nov 17, 2025

    MLS# 12472004 Listing URL

    Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Six-Unit Multifamily Value-Add Opportunity

    The property at 10947 S. King Drive in Chicago, Illinois, is a six-unit multifamily building. Each of the six apartments features two bedrooms and one bathroom, with each unit averaging 1,400 square feet, totaling 8,709 square feet for the entire building. The property is currently producing a net operating income of $36,983, supported by average in-place rents of $1,005 per unit. A renovation investment of $10,000 per unit, totaling $60,000, could update interiors to meet market expectations. These improvements could unlock higher market rents averaging $1,500 per unit, increasing gross potential income and elevating the NOI to a pro forma $68,356. Each apartment offers large floorplans, providing a competitive advantage in tenant retention and reducing turnover. The expansive layouts are ideal for families and working professionals, ensuring broad tenant demand and positioning the property as a long-term rental option. The property offers immediate income, clear upside potential, and long-term appreciation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.61307
    Latitude
    41.69499

    Nearby Similar for Sale

    • $2,350,000

      Renovated Multifamily Building in Rogers Park

      Completely renovated 4-unit building near Loyola University and the Red Line.
      1535 W Estes Ave, Chicago, IL 60626
      View Details
    • $4,240,000

      Bronzeville Collection: Turnkey Investment Opportunity

      Classic Chicago 23-unit building with 20 parking spaces.
      4840 S Indiana Ave, Chicago, IL 60615
      View Details
    • $8,360,000

      Bronzeville Multifamily Investment Opportunity

      Completely renovated 31-unit apartment building near Green Line.
      4358 S Prairie Ave, Chicago, IL 60653
      View Details
    • $699,900
      0.07 Acres

      Residential Income Greystone in Chicago

      Brick building with oversized units in a desirable Chicago location.
      4615 S Vincennes Ave, Chicago, IL 60653
      View Details
    • $699,999
      0.07 Acres

      Turnkey Two-Flat Investment Property

      Modernized two-flat in Chicago, ideal for investors or owner-occupants.
      321 S Richmond St, Chicago, IL 60612
      View Details
    • $1,399,000
      10,500 SF

      Renovated Flex Building in Chicago

      Modernized 10,500 SF flex building in a vibrant Chicago neighborhood.
      526 N Western Ave, Chicago, IL 60612
      View Details

    FAQs

    What type of property is this?
    Apartment building - Six-unit multifamily property in Chicago with value-add potential.
    Where is this apartment building located?
    The property is located at 10947 S King Dr Chicago, IL.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: - Significant Value-Add Potential: Projecting increased rents and a 12.78% pro forma cap rate with a $10,000 per unit renovation.; - Strong Immediate Cash Flow: Currently generates an NOI of $36,983 with a 7.79% cap rate.; - Below Replacement Cost: Offered at $79,167 per unit and $55 per square foot.
    (312) 216-2422
    Request Owner's contact information
    10947 S King Dr Chicago, IL 60628
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    10947 S King Dr
    Chicago, IL 60628
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10947 S King Dr Chicago, IL 60628
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.