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    4521 S Hermitage Ave Chicago, IL 60609

    View on Map
    Sponsored
    For Sale
    Under Contract
    $610,000

    MULTI_FAMILY - Chicago, IL

    Days on Market:
    16
    Last Refresh:
    Mar 11 at 12:06 am

    Property Features for 4521 S Hermitage Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Zoning
    MULTI
    Rooms
    Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 7, Bedroom 5, Bedroom 9, Bathroom 1, Bathroom 2, Bathroom 4, Bathroom 5, Bedroom 10, Basement, Bathroom 3, Bedroom 2, Bedroom 6, Bedroom 8
    Bedrooms
    10
    Bathrooms
    5
    APN
    20064150090000
    Parking
    4
    Patio and Porch features
    Deck, Porch
    Basement
    Walk-Up Access, Finished, Full, Exterior Entry

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air

    Building Details

    Year built
    1888
    Building materials
    Vinyl Siding

    We can help!

    Listing Contact
    Jonathan Minerick
    Jonathan Minerick

    homecoin.com (888) 400-2513

    Listing agent Jonathan Minerick (888) 400-2513

    Listing date Feb 23, 2026

    MLS# 12545752 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

    Chicago Multifamily Investment Opportunity

    This multifamily property in Chicago, Illinois, presents an investment opportunity in the New City/Back of the Yards neighborhood. The building features four units that have been fully gutted and rehabbed with city permits. The property includes new copper piping, electrical systems, furnaces, central heating and cooling for each unit, roofing, and individual water heaters. Each unit has a remodeled bathroom and new flooring. Unit 1, located on the first floor at the front, features two bedrooms and one bathroom with high ceilings. Unit 2, at the rear of the first floor, also offers two bedrooms, one bathroom, and high ceilings. Unit 3 spans the entire second floor and includes three bedrooms, two bathrooms, a master suite bathroom, and a large master closet, complemented by high ceilings. Unit 4, a legal lower-level unit, features a kitchen and three bedrooms with one bathroom. The first and second-floor units benefit from high ceilings that allow ample natural light. A wooden deck, completed in 2025, provides access to the three back units and outdoor space. A new parking pad and fence have been installed along the back alley. The property is near Davis Square Park, in a neighborhood with rental activity. The listed rents are projected based on the property's condition, neighborhood, and features. This property is suitable for investors looking to add to their portfolio or for owner-occupiers looking to live in one unit and rent out the others.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.668342
    Latitude
    41.811495

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    FAQs

    What type of property is this?
    Quadplex - Rehabbed four-unit building near Davis Square Park.
    Where is this quadplex located?
    The property is located at 4521 S Hermitage Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $610,000.
    What are key features of this property?
    This property features: - Fully rehabbed 4-unit building with new copper plumbing, electrical, furnaces, central AC, roofing, and individual water heaters (all with city permits).; - Strong investment opportunity with projected cash flow; potential to live in one unit and rent out the other three.; - Unit 3 features **3 bed/2 bath with a master suite bathroom and a huge master closet.**
    (888) 400-2513
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    4521 S Hermitage Ave Chicago, IL 60609
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    Chicago, IL 60609
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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
    4521 S Hermitage Ave Chicago, IL 60609
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    We can help!
    Listing Contact
    Jonathan Minerick
    Jonathan Minerick
    Real Estate License ID: 01523060
    (888) 400-2513 (404) 388-9441 (678) 472-9268
    Learn more
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