Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Chicago Multifamily Investment Opportunity Title is generated by Realmo AI

    4742-46 S Michigan Avenue, Chicago, IL 60615

    View on Map
    Claim this Listing
    For Sale
    $8,495,000

    MULTI_FAMILY - Chicago, IL

    Added:
    Apr 22, 2026
    Days on Market:
    30
    Last Refresh:
    May 21 at 5:06 pm

    Property Features for 4742-46 S Michigan Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Zoning
    MULTI
    Bedrooms
    54
    Bathrooms
    54
    Rooms
    Bathroom 15, Bathroom 7, Bedroom 28, Bathroom 31, Bathroom 12, Bedroom 45, Bedroom 6, Bathroom 13, Bathroom 46, Bedroom 37, Bedroom 10, Bedroom 16, Bedroom 4, Bedroom 41, Bathroom 43, Bathroom 29, Bedroom 7, Bedroom 35, Bathroom 24, Bathroom 17, Bathroom 51, Bathroom 2, Bedroom 5, Bedroom 1, Bedroom 27, Bathroom 25, Bathroom 22, Bedroom 13, Bedroom 42, Basement, Bathroom 32, Bedroom 50, Bathroom 39, Bathroom 47, Bedroom 19, Bedroom 2, Bedroom 23, Bathroom 14, Bathroom 27, Bedroom 26, Bathroom 20, Bathroom 3, Bedroom 43, Bedroom 34, Bathroom 1, Bedroom 47, Bedroom 40, Bedroom 44, Bedroom 46, Bathroom 5, Bedroom 39, Bedroom 29, Bedroom 9, Bedroom 18, Bedroom 49, Bathroom 41, Bedroom 14, Bathroom 18, Bathroom 4, Bedroom 22, Bathroom 26, Bedroom 51, Bedroom 48, Bathroom 45, Bedroom 24, Bedroom 11, Bathroom 52, Bedroom 53, Bedroom 36, Bathroom 34, Bedroom 38, Bedroom 17, Bathroom 19, Bedroom 21, Bedroom 52, Bathroom 54, Bathroom 8, Bedroom 54, Bathroom 23, Bedroom 12, Bathroom 50, Bathroom 53, Bathroom 11, Bathroom 35, Bathroom 38, Bedroom 32, Bathroom 16, Bedroom 8, Bedroom 25, Bathroom 30, Bathroom 6, Bedroom 30, Bathroom 33, Bedroom 15, Bedroom 31, Bathroom 49, Bathroom 40, Bathroom 48, Bathroom 21, Bathroom 42, Bathroom 44, Bathroom 28, Bedroom 3, Bathroom 9, Bedroom 33, Bathroom 10, Bathroom 36, Bathroom 37, Bedroom 20
    Basement
    Finished
    Standard status
    Active
    APN
    20101010270000

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    78465

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    2025
    Floors in Building
    3
    Number of units
    24
    Building materials
    Brick, Block, Stone

    We can help!

    Listing Contact
    Karen Biazar
    Karen Biazar

    Listing agent Karen Biazar License #471003309

    Listing office North Clybourn Group, Inc. 2324 W North Ave, Chicago, IL

    Listing date Apr 22, 2026

    MLS# 12627050 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

    • New construction completed in 2025.
    • Features central air conditioning.
    • Constructed with durable brick, block, and stone.
    • Boasts over 50 bathrooms.
    • Includes over 50 bedrooms.
    • Has a basement.

    Overview

    This multifamily property is located in Chicago, Illinois. The property is zoned for multi-family use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    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
    -87.623277
    Latitude
    41.807905

    Nearby Similar for Sale

    • $459,000
      3,000 SF

      Chicago Commercial Buildings For Sale

      Three commercial buildings in a busy Chicago neighborhood retail location.
      1753-1759 W 79th Street, Chicago, IL 60620
      View Details
    • $949,000
      4,055 SF

      Turnkey Restaurant Venue with PPA License

      Fully renovated restaurant with licenses and uncommitted VGT potential.
      7455 W Irving Park Road, Chicago, IL 60634
      View Details
    • $949,000
      4,055 SF

      Turnkey Restaurant Venue with Licenses

      Fully renovated restaurant with licenses and residential unit for sale.
      7455 W Irving Park Road, Chicago, IL 60634
      View Details
    • $779,900

      Chicago Commercial Brick Storefronts For Sale

      Income-producing commercial property with long-term tenants on a busy corner.
      5600 W Division Street, Chicago, IL 60651
      View Details
    • $649,000
      2,176 SF

      Turnkey Restaurant Opportunity in Chicago

      Below-market lease in East Lakeview, fully equipped restaurant with assets.
      420 W Belmont Avenue, Chicago, IL 60657
      View Details
    • $759,000
      5,000 SF

      Prime Retail Space in Chicago

      Commercial property in a high-traffic retail district.
      4411 N Kedzie Avenue, Chicago, IL 60625
      View Details
    • $375,000
      2,980 SF

      Woodlawn Commercial Investment Opportunity

      Multi-unit commercial property in Chicago's evolving Woodlawn neighborhood.
      6501 - 6507 1/2 S Saint Lawrence Avenue, Chicago, IL 60637
      View Details
    • $625,000
      4,593 SF

      Fulton River District Commercial Loft

      Classic timber loft in Fulton River District, Chicago.
      566 W Lake Street, Chicago, IL 60661
      View Details
    • $549,900
      2,806 SF

      Wicker Park Corner Retail Building

      2,806 SF retail building in prime Wicker Park location.
      2357 W North Avenue, Chicago, IL 60647
      View Details
    • $1,300,000
      6,400 SF

      Renovated Chicago Industrial Flex Warehouse

      6,400 SF renovated industrial flex warehouse in Chicago for sale.
      3146 W Chicago Avenue, Chicago, IL 60622
      View Details
    • $649,000

      Brighton Park Commercial Strip Center

      Well-maintained commercial strip center in high-traffic location, fully leased.
      4044-48 S ARCHER Avenue, Chicago, IL 60632
      View Details
    • $349,900

      Chicago Commercial Space with Visibility

      Versatile office space ideal for medical or professional services.
      8036 S WESTERN Avenue, Chicago, IL 60620
      View Details

    FAQs

    What type of property is this?
    Apartment building - Multifamily property for sale in Chicago, Illinois.
    Where is this apartment building located?
    The property is located at 4742-46 S Michigan Avenue Chicago, IL.
    What is the asking price?
    The asking price for this property is $8,495,000.
    What are key features of this property?
    This property features: New construction completed in 2025.; Features central air conditioning.; Constructed with durable brick, block, and stone.
    (773) 252-0600
    We can help!
    Listing Contact
    Karen Biazar
    Karen Biazar
    Real Estate License ID: 471003309
    Learn More
    Request Owner's contact information
    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.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4742-46 S Michigan Avenue, Chicago, IL 60615
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!