Four-Flat Apartment
2643 N California Avenue Chicago, IL 60647
New
For Sale
$665,000
MULTI_FAMILY - Chicago, IL
Property Size3,475 SF
Lot Size0.07 Acres
Price / SF$191.37
Days on Market1
Property Features for 2643 N California Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 4, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 3, Den, Bedroom 5, Bedroom 1, Basement, Bathroom 2, Bedroom 4, Bathroom 1
- Parking
- 2
- Parking features
- Garage
- Patio and Porch features
- Deck
- Basement
- Full, Unfinished
- Standard status
- Active
- APN
- 13254080030000
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 12121
Utilities
- Sewer type
- Public Sewer
- Heating system
- Other (Heating)
Building Details
- Year built
- 1897
- Building materials
- Vinyl Siding, Asbestos, Combination
- Roof type
- Asphalt
Listing Agency:
Compass
(312) 733-7201
Listed By:
Megan Sullivan
Added: Jul 23
Last Checked: Jul 23 at 11:06PM
MLS# 12710369
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
Built in 1897, this classic Chicago four-flat offers a total of four residential units plus a full unfinished basement. The current unit mix includes two one-bedroom residences and two apartments with two bedrooms and a den. The property also includes a detached two-car garage and a fenced backyard with private rear deck access for the units.
The building is located near Logan Boulevard, described as about one block away, and the remarks note proximity to restaurants, cafes, parks, and public transportation. The property is within the boundaries of the 606 Ordinance.
The offering is for an as-is sale and is not positioned as a turnkey investment. The remarks indicate limited updates over several decades and suggest buyers should expect deferred maintenance, repairs, and modernization. Rental income is currently reported at approximately $4,500 per month, with existing rents described as below prevailing Logan Square market rates, presenting an opportunity to restore and reposition a vintage multifamily asset with original architectural details and flexible layouts.
The building is located near Logan Boulevard, described as about one block away, and the remarks note proximity to restaurants, cafes, parks, and public transportation. The property is within the boundaries of the 606 Ordinance.
The offering is for an as-is sale and is not positioned as a turnkey investment. The remarks indicate limited updates over several decades and suggest buyers should expect deferred maintenance, repairs, and modernization. Rental income is currently reported at approximately $4,500 per month, with existing rents described as below prevailing Logan Square market rates, presenting an opportunity to restore and reposition a vintage multifamily asset with original architectural details and flexible layouts.
Key Highlights
- Chicago four‑flat built in 1897 with approximately 3,475 sq ft above grade plus a full unfinished basement
- Unit mix includes two 1‑bedroom residences and two 2‑bedroom‑plus‑den apartments
- Detached 2‑car garage plus a fenced backyard
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $87.6k | $25.20 |
| − Vacancy | −$4.8k | −$1.39 |
| EGI | $82.8k | $23.81 |
| − OpEx | −$24.8k | −$7.14 |
| NOI | $57.9k | $16.67 |
3,475 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$827.5K
$724.1K – $965.5K
NOI $57,928 @ 7.0% cap · market cap 8.71%
Second Best
Apartment 5plus
$761.0K
$665.9K – $887.8K
NOI $53,269 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,692 @ 7.0% cap · market cap 17.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Classic four-unit building with an unfinished basement, detached two-car garage, and fenced backyard, built in 1897.
Where is this quadplex located?
The property is located at 2643 N California Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Chicago four‑flat built in 1897 with approximately 3,475 sq ft above grade plus a full unfinished basement; Unit mix includes two 1‑bedroom residences and two 2‑bedroom‑plus‑den apartments; Detached 2‑car garage plus a fenced backyard
