Hyde Park Multifamily
For Sale
$1,900,000
1027 E Hyde Park, Chicago, IL 60615
4-unit walk-up building in Chicago's historic Hyde Park neighborhood
Property Size6,700 SF
Lot Size0.15 Acres
Price / SF$283.58
Days on Market628
Property Features for 1027 E Hyde Park
General Information
Standard status
Active
Property type
Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
Size
6,700 SF
Elevators
N/A
Lot size
0.15 Acres
Building Details
Year Built
1933
Units
4
Listed By:
Jacob Price
(773) 293-5045
Added: Jan 16, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This four-unit walk-up building is located in Chicago's Hyde Park neighborhood, 0.5 miles from the University of Chicago campus. The property was fully rehabilitated in 2017 and features condo-quality finishes throughout. The unit mix includes one 3-bedroom/2-bathroom unit, two 4-bedroom/4-bathroom units, and one 6-bedroom/4-bathroom unit. Each apartment has granite countertops, stainless steel appliances, hardwood floors, ample living space, oversized bedrooms with walk-in closets, in-unit laundry, and individual HVAC systems. Hyde Park offers a community with diverse residents, transportation options, and a blend of historic architecture and modern amenities. Nearby attractions include George Washington Park, Lake Shore Drive, Whole Foods, and Target. The 6,700 square foot building is situated on a 0.15-acre lot. This property is positioned to capitalize on the appeal of Hyde Park and the demand for rental housing near the University of Chicago.
Key Highlights
- 4‑Unit, turn‑key, walk‑up building
- Strong unit mix with three, four, and six bedroom apartments
- 2017 condo‑quality finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$111,688
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,233,760
$2.2M
Cap Rate 7%
$1,595,543
$1.6M
Cap Rate 9%
$1,240,978
$1.2M
Market Conditions
NOI Build-Up for 6,700 SF
Gross rent
$168.8K $25.20/SF
− Vacancy
−$9.3K −$1.39/SF
EGI
$159.6K $23.81/SF
− OpEx
−$47.9K −$7.14/SF
NOI
$111.7K $16.67/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,233,760
Cap Rate 7%
$1,595,543
Cap Rate 9%
$1,240,978
Alternative Uses
Best Use
Multifamily LT 5
$1.60M
$1.40M – $1.86M
NOI $111,688 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$1.47M
$1.28M – $1.71M
NOI $102,705 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$3.16M
$2.76M – $3.69M
NOI $221,132 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,655
Businesses Nearby
Explore this area
Business Placement
Demographics for 60615, IL
43,502
Population
24,997
Households
1.7
Avg Household Size
35
Median Age
61%
College-Educated
93%
High-School Grad
2.2 sq mi
ZIP Area
19,774
Density / Sq Mi
$62,105
Median Household Income
$47,186
Median Earnings
$1,444
Median Rent
$305,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - 4-unit walk-up building in Chicago's historic Hyde Park neighborhood
Where is this multifamily property located?
The property is located at 1027 E Hyde Park Chicago, IL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 4‑Unit, turn‑key, walk‑up building; Strong unit mix with three, four, and six bedroom apartments; 2017 condo‑quality finishes
