Bronzeville Multifamily Investment
619 E Groveland Park, Chicago, IL 60653
- Added:
- Feb 19, 2026
- Days on Market:
- 104
- Last Refresh:
- Jun 3 at 5:06 am
Property Features for 619 E Groveland Park
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- MULTI
- Bedrooms
- 10
- Bathrooms
- 11
- Rooms
- Bedroom 7, Bedroom 1, Bathroom 4, Bedroom 5, Bathroom 2, Bedroom 4, Bedroom 9, Bedroom 2, Bedroom 8, Bathroom 7, Bathroom 9, Bedroom 10, Bedroom 6, Bathroom 10, Bathroom 1, Bathroom 6, Bathroom 3, Bathroom 11, Bathroom 5, Bedroom 3, Bathroom 8
- Standard status
- Active
- APN
- 17342190340000
- Size
- 5,697 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 13510
Building Details
- Year built
- 1904
- Floors in Building
- 3
- Number of units
- 7
- Building materials
- Brick
Listing agent Anthony Hardy License #475139834 (312) 216-2422
Listing office Keller Williams ONEChicago 2211 N Elston Ave STE 400, Chicago, IL (312) 216-2422
Listing date Feb 19, 2026
MLS# 12573303
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
- Value‑add opportunity: $50,000 renovation budget to increase gross annual rent from $127,800 to $158,400.
- Located in Groveland Park, a gated, landmarked community in Chicago's Bronzeville neighborhood.
- Strong in‑place financial performance: current NOI of $93,484 and a pro forma NOI of $121,655.
- Projected 9.73% pro forma cap rate and 7.89 GRM.
- Durable in‑place income with minimal operational disruption and strong long‑term appreciation potential.
- Convenient access to Lake Shore Drive, major employment centers, public transit, and continued investment activity throughout Bronzeville.
Overview
Located within the gated, landmarked Groveland Park community in Chicago's Bronzeville neighborhood, this 7-unit multifamily property presents an investment opportunity in a supply-constrained submarket. Constructed in the early 1900s and revitalized, the property encompasses approximately 5,697 square feet. The unit mix features three 2-bedroom + den / 1-bath units and four 1-bedroom / 1-bath units, plus a garden unit. Unit sizes range from approximately 525-950 square feet, with the garden unit at approximately 650 square feet. The property generates $127,800 in gross annual rental income ($10,650/month). Factoring in a 4% vacancy assumption (-$5,152) and $1,008 in annual laundry income, the effective gross income totals approximately $123,656. Operating expenses are managed at approximately $30,171, resulting in a current NOI of $93,484. A $50,000 renovation budget supports potential rent growth from $10,650/month to $13,200/month. Under the pro forma scenario, effective gross income increases to approximately $153,032, with total expenses of approximately $31,377, producing a pro forma NOI of $121,655. The property is positioned at approximately $211 per square foot and $171,429 per unit. The property benefits from its setting within a gated historic park environment, offering residents a quiet, residential atmosphere while providing access to Lake Shore Drive, major employment centers, public transit, and continued investment activity throughout Bronzeville. This offering is suited for investors seeking in-place income with value-add upside and long-term appreciation fundamentals.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $167.5k | $29.40 |
| − Vacancy | −$8.7k | −$1.53 |
| EGI | $158.8k | $27.87 |
| − OpEx | −$71.5k | −$12.54 |
| NOI | $87.3k | $15.33 |
5,697 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,330 @ 7.0% cap · market cap 7.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.69M
$2.35M – $3.13M
NOI $188,028 @ 7.0% cap · market cap 15.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.610619
- Latitude
- 41.833214
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 7-unit multifamily property in Chicago's landmarked Groveland Park community.
Where is this apartment building located?
The property is located at 619 E Groveland Park Chicago, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Value‑add opportunity: $50,000 renovation budget to increase gross annual rent from $127,800 to $158,400.; Located in Groveland Park, a gated, landmarked community in Chicago's Bronzeville neighborhood.; Strong in‑place financial performance: current NOI of $93,484 and a pro forma NOI of $121,655.
