Chicago Multifamily Portfolio: 70
5710 N Winthrop & 6211 N Kenmore, Chicago, IL 60660
Two property portfolio in Edgewater - 6211 N. Kenmore & 5710 N. Winthrop
Property size:
39,835 SFLot size:
0.91 AcresPrice / SF:
$293/SF- Added:
- Jan 16, 2025
- Days on Market:
- 492
- Last Refresh:
- Mar 16 at 9:06 am
Property Features for 5710 N Winthrop & 6211 N Kenmore
General Information
- Standard status
- Active
- Property type
- Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
- Size
- 39,835 SF
- Elevators
- N/A
- Lot size
- 0.91 Acres
Listing agent Jacob (773) 293-5045
Listing office (773) 293-5045
Listing date Jan 16, 2025
HighLights
- Two property portfolio in Edgewater - 6211 N. Kenmore & 5710 N. Winthrop
- 70 modernized apartments with rental upside in current rates
- Renovated common area spaces
- Upgraded plumbing, electric, and mechanical systems
Overview
This investment portfolio features two multifamily properties located in Chicago's Edgewater neighborhood, comprising a total of 70 units. The properties are divided between 6211 N. Kenmore, a 28-unit building, and 5710 N. Winthrop, a 42-unit building. The 4+1 style building at 6211 N. Kenmore includes twelve studio apartments and sixteen one-bedroom/one-bathroom apartments, along with 19 parking spaces. Renovations completed in 2018 included new kitchens, bathrooms, flooring, doors, windows, updated plumbing and electrical systems, resurfaced parking, and added laundry facilities on each floor. The corridor-style building at 5710 N. Winthrop features twenty-five studio and seventeen one-bedroom/one-bathroom units. An 18-month renovation completed in December 2020 encompassed new building electrical, updated common areas (flooring, baseboards, lighting, doors), modernized kitchens and baths with quartz countertops and shaker-style cabinetry, reconfigured floor plans for open-concept living, and new windows. The combined building size is 39,835 square feet on a total land area of 0.91 acres. Both properties offer rental upside, with current rents averaging 11-12% below market rates. The properties are located six miles from downtown Chicago and near Loyola University and Lake Michigan, with convenient access to public transportation (Union Pacific North Metra, CTA Red Line, and bus routes).
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$7.38M
NOI $664,041 @ 9.00% cap · cautious / downside scenario
Moderate
$9.49M
NOI $664,041 @ 7.00% cap · market / base-case scenario
Aggressive
$13.28M
NOI $664,041 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.00M | $25.20 |
| − Vacancy | −$55.2k | −$1.39 |
| EGI | $948.6k | $23.81 |
| − OpEx | −$284.6k | −$7.14 |
| NOI | $664.0k | $16.67 |
39,835 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$9.49M
$8.30M – $11.07M
NOI $664,041 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$8.72M
$7.63M – $10.18M
NOI $610,637 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$18.78M
$16.43M – $21.91M
NOI $1,314,746 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Residential income homes
Map
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6654
- Latitude
- 41.991
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Two property portfolio in Edgewater - 6211 N. Kenmore & 5710 N. Winthrop
Where is this multifamily property located?
The property is located at 5710 N Winthrop & 6211 N Kenmore Chicago, IL.
What is the asking price?
The asking price for this property is $11,700,000.
What are key features of this property?
This property features: Two property portfolio in Edgewater - 6211 N. Kenmore & 5710 N. Winthrop; 70 modernized apartments with rental upside in current rates; Renovated common area spaces
