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    The Largest CRE Database in the US with Over 1 Million Listings

    4358 S Prairie Ave Chicago, IL 60653

    Sponsored
    For Sale
    $8,360,000

    MULTI_FAMILY - Chicago, IL

    Lot size:
    0.46 Acres
    Days on Market:
    14
    Last Refresh:
    Jan 26 at 5:06 am

    Property Features for 4358 S Prairie Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MULTI
    Rooms
    Bathroom 41, Bedroom 48, Bathroom 38, Bedroom 20, Bathroom 28, Bathroom 17, Bathroom 39, Bathroom 44, Bathroom 31, Bedroom 53, Bathroom 33, Bathroom 2, Bedroom 5, Bathroom 48, Bedroom 30, Bathroom 19, Bathroom 9, Bathroom 43, Bedroom 7, Bedroom 37, Bedroom 44, Bedroom 46, Bathroom 11, Bedroom 11, Bathroom 16, Bathroom 1, Bathroom 46, Bathroom 7, Bedroom 6, Bathroom 13, Bedroom 54, Bedroom 13, Bathroom 3, Bathroom 25, Bedroom 52, Bedroom 10, Bathroom 24, Bedroom 19, Bathroom 30, Bedroom 8, Bedroom 18, Bathroom 4, Bedroom 16, Bedroom 45, Bathroom 37, Bedroom 38, Bedroom 51, Bedroom 27, Bedroom 33, Bedroom 17, Bedroom 12, Bedroom 1, Bathroom 45, Bedroom 26, Bedroom 32, Bathroom 18, Bathroom 29, Bedroom 42, Bedroom 43, Bedroom 25, Bathroom 20, Bathroom 21, Bathroom 47, Bathroom 6, Bedroom 36, Bedroom 31, Bedroom 39, Bathroom 5, Bedroom 9, Bedroom 15, Bedroom 40, Bedroom 47, Bathroom 36, Bedroom 14, Bedroom 2, Bathroom 12, Bedroom 50, Bedroom 4, Bedroom 24, Bathroom 26, Basement, Bathroom 27, Bedroom 49, Bathroom 22, Bedroom 34, Bathroom 8, Bedroom 28, Bathroom 15, Bedroom 22, Bathroom 10, Bedroom 23, Bedroom 35, Bathroom 34, Bathroom 23, Bathroom 14, Bathroom 40, Bedroom 29, Bedroom 3, Bedroom 21, Bathroom 42, Bathroom 35, Bedroom 41, Bathroom 32
    Bedrooms
    54
    APN
    20033030250000
    Basement
    Finished, Exterior Entry, Partially Finished
    Lot size
    0.46 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Floors in Building
    4
    Number of units
    31
    Building materials
    Brick, Stone

    We can help!

    Listing Contact
    Karen Biazar
    Karen Biazar

    North Clybourn Group, Inc. (773) 252-0600

    Listing agent Karen Biazar (773) 645-7900

    Listing date Jan 13, 2026

    MLS# 12542732 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.

    Learn more

    Property Insight Report

    Overview

    Bronzeville Multifamily Investment Opportunity

    Located in the high-growth Bronzeville neighborhood of Chicago, this multifamily property spans just under a 1/2 acre. The property is a classic Chicago all-masonry walk-up building featuring 31 units with 5 entrances, steel rear decks, private all-masonry front terraces, and 19 gated parking spaces. The building has undergone a complete gut renovation, including electric, plumbing, roof, windows, and unit interiors. The property contains four 3-bedroom, 2.5-bath duplexes; one 4-bedroom, 2-bath simplex; fourteen 2-bedroom, 2-bath units; and fourteen 1-bedroom + den, 1-bath layouts. Unit features include open flow, modernist kitchens, full backsplashes, under-cabinet lighting, quartz and granite countertops, tile applications, vessel sinks, hardwood floors, exposed brick, premium millwork, individual HVAC systems, in-unit washer dryers, custom closet organizers, window treatments, dimmers, designer lighting, and heated floors. Common areas feature skylights, commercial-grade glass entryways, and art deco tile. The property is located 1/4 block from the Green Line and Pendleton Park.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    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
    -87.619833
    Latitude
    41.815521

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    FAQs

    What type of property is this?
    Apartment building - 31-unit multifamily property in Chicago's Bronzeville neighborhood near Green Line.
    Where is this apartment building located?
    The property is located at 4358 S Prairie Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $8,360,000.
    What are key features of this property?
    This property features: - 7. 5 CAP rate investment opportunity in high-growth Bronzeville location.; - Completely renovated 31-unit building with documented capital improvements and modern amenities.; - Diverse unit mix including spacious 3-bedroom duplexes, 4-bedroom simplex, 2-bedroom units, and 1-bedroom + den layouts.
    (773) 645-7900
    Request Owner's contact information
    4358 S Prairie Ave Chicago, IL 60653
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    Chicago, IL 60653
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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.

    More about this property
    4358 S Prairie Ave Chicago, IL 60653
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    We can help!
    Listing Contact
    Karen Biazar
    Karen Biazar
    Real Estate License ID: 471003309
    (773) 645-7900
    Learn more
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