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

    5319 S Maryland Ave Chicago, IL 60615

    Sponsored
    For Sale
    Under Contract
    $975,000

    MULTI_FAMILY - Colonial - Chicago, IL

    Lot size:
    0.14 Acres
    Days on Market:
    14
    Last Refresh:
    Feb 5 at 9:06 pm

    Property Features for 5319 S Maryland Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Window features
    Screens
    Rooms
    Bathroom 2, Bedroom 9, Bedroom 10, Bedroom 2, Bedroom 1, Bedroom 8, Bathroom 1, Bedroom 6, Bedroom 4, Bathroom 7, Bedroom 11, Basement, Bedroom 12, Bedroom 5, Bathroom 4, Bedroom 3, Bathroom 6, Bathroom 3, Bedroom 7, Bathroom 5
    Bedrooms
    12
    Bathrooms
    7
    APN
    20113140050000
    Parking
    4
    Parking features
    Garage, Open
    Patio and Porch features
    Deck
    Fencing
    Fenced
    Basement
    Storage Space, Partially Finished, Full, Exterior Entry
    Lot size
    0.14 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Building materials
    Brick, Limestone
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Robert Teverbaugh
    Robert Teverbaugh

    Coldwell Banker Leader Realty (312) 513-4490

    Listing agent Robert Teverbaugh (773) 203-8709

    Listing date Jan 23, 2026

    MLS# 12544884 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

    Meticulously Maintained Greystone in Chicago

    This meticulously maintained three-unit solid Greystone is situated on an oversized 50' x 120' lot and includes a four-car detached garage and recently refurbished rear decks. The property combines classic architecture with modern upgrades and strong investment potential. Each unit benefits from abundant natural light through oversized windows and four-direction exposures. The property is located near the CTA Express bus downtown, DuSable Lake Shore Drive, Kenwood High School, Lab Schools, Whole Foods, Starbucks, 'Downtown Hyde Park' shopping and dining, and the University of Chicago Medical complex. The building features a total of 12 bedrooms and 7 baths. The property includes lush perennial side and rear gardens and original hardwood floors. Units 2 and 3 each feature four bedrooms, two baths, and double parlors. Unit 1, the owner's unit, includes three bedrooms and two baths and connects with a separate studio garden unit via a private interior stair. All units have formal dining rooms. Additional features include original millwork, pocket doors, and working transoms. Major upgrades include three furnaces (oldest from 2021, serviced annually), two of the three water heaters replaced in 2022-2023, parapet walls refurbished in 2022 and 2024, a roof resurfaced and silver-coated in 2024, and sewer lines cleaned and epoxy-coated in 2021 with a 50-year transferable warranty. Seventeen of the double-pane windows were replaced in 2024. The owner's unit has a new washer and dryer and a newer stove and refrigerator from 2023. The garden unit has a private side entrance via a new, secure storm door and a full bath with a deep soaker spa tub, offering excellent in-law arrangement or short-term rental potential. Tenant amenities include a new coin-operated laundry in the basement. Each unit pays its own utilities. Located in Kenwood/Hyde Park, the property is near the University of Chicago, lakefront trails, parks, dining, and cultural landmarks. It is suitable for an owner-occupant or investor seeking turnkey income and long-term durability.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.604775
    Latitude
    41.797929

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    FAQs

    What type of property is this?
    Apartment building - Three-unit Greystone near University of Chicago, perfect for owner-occupant.
    Where is this apartment building located?
    The property is located at 5319 S Maryland Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: - Meticulously maintained 3-unit Greystone on an oversized lot, offering strong investment potential and turnkey income.; - Prime location near CTA Express, DuSable Lake Shore Drive, Kenwood High School, Lab Schools, Whole Foods, University of Chicago, and Hyde Park amenities.; - Recent major upgrades include roof resurfacing, window replacements, and sewer line epoxy-coating (with 50-year warranty).
    (773) 203-8709
    Request Owner's contact information
    5319 S Maryland Ave Chicago, IL 60615
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    Chicago, IL 60615
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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
    5319 S Maryland Ave Chicago, IL 60615
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    We can help!
    Listing Contact
    Robert Teverbaugh
    Robert Teverbaugh
    Real Estate License ID: 475155033
    (773) 203-8709
    Learn more
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