8-Bedroom Multifamily
For Sale
$575,000
Pending
1121 N Lawndale Avenue, Chicago, IL 60651
The first-floor residence has a duplex-down layout, and the building includes a balcony.
Property Size3,400 SF
Days on Market10
Property Features for 1121 N Lawndale Avenue
General Information
Standard status
Pending
Size
3,400 SF
Property subtype
Two to Four Units
Site & Location
Neighborhood
Humboldt Park
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,954
Amenities
balcony
Finished,Full
3
8
2
Lake Michigan
2.5
25x125
Yes
Yes,Garage Owned,Detached,Garage
Building Details
Year Built
1913
Listing Agency:
Luna Realty Group
(708) 787-2808
Listed By:
Anthony Lezza
Source:
Kawashgroup
Added: Oct 26
Changed: Nov 3
Last Checked: Nov 4 at 8:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Luna Realty Group
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Investment Insights
Based on property information with market context.
This 3,400-square-foot multifamily property contains 8 bedrooms and 3 bathrooms. Its first-floor unit is arranged as a duplex-down, and a balcony adds outdoor space. Central air was installed in 2021; the 200-amp electrical service was updated in 2024. Other improvements include a 2020 roof and siding, a tankless water heater installed in 2020, tuck pointing completed in 2024, windows replaced in 2020 and 2024, plus a sump pump and support pillars.
Key Highlights
- 3,400 square feet with 8 bedrooms and 3 bathrooms
- First‑floor unit has a duplex‑down layout
- Central air installed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,119
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,042,380
$1.0M
Cap Rate 7%
$744,557
$744.6K
Cap Rate 9%
$579,100
$579.1K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$100.0K $29.40/SF
− Vacancy
−$5.2K −$1.53/SF
EGI
$94.8K $27.87/SF
− OpEx
−$42.6K −$12.54/SF
NOI
$52.1K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,042,380
Cap Rate 7%
$744,557
Cap Rate 9%
$579,100
Alternative Uses
Best Use
Apartment 5plus
$744.6K
$651.5K – $868.7K
NOI $52,119 @ 7.0% cap · market cap 9.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,216 @ 7.0% cap · market cap 19.52%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,645
Businesses Nearby
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Business Placement
Demographics for 60651, IL
62,819
Population
22,885
Households
2.7
Avg Household Size
36
Median Age
16%
College-Educated
77%
High-School Grad
3.5 sq mi
ZIP Area
17,948
Density / Sq Mi
$52,963
Median Household Income
$33,783
Median Earnings
$1,186
Median Rent
$262,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - The first-floor residence has a duplex-down layout, and the building includes a balcony.
Where is this multifamily property located?
The property is located at 1121 N Lawndale Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,400 square feet with 8 bedrooms and 3 bathrooms; First‑floor unit has a duplex‑down layout; Central air installed in 2021
