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    Bridgeport Multifamily Property in Chicago Title is generated by Realmo AI

    3841 S Lowe Avenue, Chicago, IL 60609

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    Claim this Listing
    For Sale
    Under Contract
    $545,000

    MULTI_FAMILY - Chicago, IL

    Added:
    Apr 22, 2026
    Days on Market:
    45
    Last Refresh:
    Jun 5 at 3:06 pm

    Property Features for 3841 S Lowe Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    MULTI
    Bedrooms
    5
    Bathrooms
    6
    Rooms
    Bathroom 5, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 6, Bedroom 2, Bathroom 3, Bathroom 4, Basement
    Basement
    Finished, Full
    Standard status
    Active Under Contract
    APN
    17333240170000

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    11050

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1888
    Building materials
    Brick, Frame
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Salvador Gonzalez
    Salvador Gonzalez

    Listing agent Salvador Gonzalez License #475122447

    Listing office RE/MAX Mi Casa 3958 W 55th St, Chicago, IL

    Listing date Apr 22, 2026

    MLS# 12626295 Listing URL

    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.

    HighLights

    • Two separate living spaces: brick front building with 2 bedrooms/2 baths and a rear building with 3 bedrooms/2 full and 2 half baths.
    • Updated features: remodeled bathrooms, updated kitchens, new water heaters, and new furnaces.
    • Finished basements in both buildings: family room, laundry area, and bathroom (or half bathroom).
    • Recent exterior improvements: tuckpointing and roof work completed in 2020, concrete work in 2019, and a new fence in 2022.
    • Prime Bridgeport location: easy access to public transportation, shops, and restaurants.
    • Enclosed yard with a concrete patio provides a private outdoor area.

    Overview

    Located in a prime Bridgeport location on a great cul-de-sac block, this property features a solid brick front building with two bedrooms and two full bathrooms. The finished basement includes a laundry area and family room with recessed lighting, plus an updated bathroom with white subway tile and a bar. The rear building offers three levels of living space, with a total of three bedrooms, two full bathrooms, and two half bathrooms, along with maple wood kitchen cabinets and granite countertops. The ample master bedroom includes a private bathroom and plenty of closet space. The rear building also has a finished basement with an open family room, half bathroom, and laundry room. An enclosed yard features a concrete patio. Many updates have been made to the property over the years, including tuckpointing and roof work completed in 2020, concrete front and rear lawns in 2019, and a new north wooden fence in 2022. New exterior steel stairs are planned for both the front and rear houses in August 2025. Front house updates include tuckpointing in 2016, a basement update in 2018, kitchen cabinets in 2018, a new awning in February 2020, a new water heater in 2020, a new furnace in 2021, roof tar in 2021, a basement bathroom remodel in December 2021, and an upstairs bathroom remodel in 2022. Rear house updates include a 2013 furnace, new gutters and roof work in 2016, Evergreen windows in October 2016, basement insolation in 2018, an upstairs bathroom remodel in 2020, and a new water heater in 2021. The property is located steps from public transportation, shops, and restaurants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.641938
    Latitude
    41.824118

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    FAQs

    What type of property is this?
    Duplex - Multifamily property in prime Bridgeport location with many updates.
    Where is this duplex located?
    The property is located at 3841 S Lowe Avenue Chicago, IL.
    What is the asking price?
    The asking price for this property is $545,000.
    What are key features of this property?
    This property features: Two separate living spaces: brick front building with 2 bedrooms/2 baths and a rear building with 3 bedrooms/2 full and 2 half baths.; Updated features: remodeled bathrooms, updated kitchens, new water heaters, and new furnaces.; Finished basements in both buildings: family room, laundry area, and bathroom (or half bathroom).
    (773) 767-1616
    We can help!
    Listing Contact
    Salvador Gonzalez
    Salvador Gonzalez
    Real Estate License ID: 475122447
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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