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    7317 S Union Ave Chicago, IL 60621

    Sponsored
    For Sale
    $465,000

    MULTI_FAMILY - Chicago, IL

    Lot size:
    0.11 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 27 at 1:06 pm

    Property Features for 7317 S Union Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MULTI
    Rooms
    Bedroom 18, Bathroom 15, Bedroom 11, Bathroom 1, Bedroom 17, Bathroom 6, Bathroom 19, Bedroom 13, Bathroom 16, Bedroom 15, Bedroom 26, Bathroom 21, Bedroom 27, Bedroom 24, Bathroom 20, Bedroom 6, Bedroom 21, Bedroom 25, Bathroom 7, Bedroom 12, Bedroom 8, Bathroom 13, Bathroom 18, Bedroom 9, Bedroom 10, Bedroom 16, Bedroom 7, Bedroom 23, Bathroom 10, Bedroom 20, Bathroom 4, Bathroom 2, Bathroom 14, Bathroom 9, Bathroom 12, Bathroom 5, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 8, Bedroom 5, Bedroom 1, Bedroom 19, Bathroom 17, Bedroom 22, Bathroom 11, Bedroom 2, Bedroom 14
    Bedrooms
    27
    APN
    20281150050000
    Lot size
    0.11 Acres

    Building Details

    Year built
    1916
    Floors in Building
    3
    Number of units
    6
    Building materials
    Brick, Concrete

    We can help!

    Listing Contact
    Mark Ahmad
    Mark Ahmad

    Coldwell Banker Leader Realty (312) 513-4490

    Listing agent Mark Ahmad (773) 983-1553

    Listing date Feb 26, 2026

    MLS# 12576409

    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

    Englewood Multifamily Investment Opportunity

    Located in the Englewood neighborhood on Chicago's South Side, this six-unit building offers an investment opportunity in a well-known residential area. The property is bordered by Garfield Boulevard and 75th Street, near the Greater Grand Crossing and Park Manor community areas. Public transportation is readily accessible with several CTA bus routes, including Routes 8/Halsted and 79th Street, as well as the 79th Street rapid transit station on the Red Line. The Metra's Gresham Station on the Rock Island District Line is also nearby. The full brick building features curb appeal and consists of three units with two bedrooms and one bath each, and three units with one bedroom and one bath each. Each unit has individual furnaces, air conditioning, and a water tank. The north portion of the building contains the 2-bedroom units, while the south portion contains the 1-bedroom units. Three units have updated kitchens, hardwood floors, and stainless steel appliances. The full basement offers the potential to add or create two more units, with a furnace and rough plumbing already in place. One of the south units is occupied by a tenant with a monthly lease of $1,010; utilities for this unit are paid by the landlord. The property is situated within minutes of major roads and Lake Shore Drive. The lot size is approximately 0.1148 acres. The building is intended for multifamily and residential income 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
    -87.641519
    Latitude
    41.761024

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    FAQs

    What type of property is this?
    Apartment building - Six-unit building in Chicago's Englewood neighborhood with expansion potential.
    Where is this apartment building located?
    The property is located at 7317 S Union Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $465,000.
    What are key features of this property?
    This property features: - Six-unit building with a mix of 2-bedroom and 1-bedroom units; - Three units are updated with **new kitchens, hardwood floors, and stainless steel appliances.**; - **Full basement with potential to add two more units** with existing furnace and rough plumbing.
    (773) 983-1553
    Request Owner's contact information
    7317 S Union Ave Chicago, IL 60621
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    Chicago, IL 60621
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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
    7317 S Union Ave Chicago, IL 60621
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    We can help!
    Listing Contact
    Mark Ahmad
    Mark Ahmad
    Real Estate License ID: 471007186
    (773) 983-1553 (773) 465-4200 (844) 884-1500
    Learn more
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