Bronzeville Multifamily Investment
544 E Oakwood Blvd, Chicago, IL 60653
16,100 SF 19 unit building in the coveted Bronzeville neighborhood of Chicago.
Property size:
16,100 SFLot size:
0.37 AcresPrice / SF:
$248/SF- Added:
- Jan 16, 2025
- Days on Market:
- 538
- Last Refresh:
- Mar 16 at 9:06 am
Property Features for 544 E Oakwood Blvd
General Information
- Standard status
- Active
- Property type
- Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
- Size
- 16,100 SF
- Elevators
- N/A
- Lot size
- 0.37 Acres
Building Details
- Buildings
- 1
- Stories
- 3
Listing agent Noah (630) 209-3622
Listing office (630) 209-3622
Listing date Jan 16, 2025
HighLights
- Prime Bronzeville Location
- Nineteen (19) Units + Three (3) Potential Garden Units
- Sixteen (16) 2Bd/1Ba, Two (2) 3Bd/2Ba, & One (1) 4Bd/2Ba
- Newer Windows, Roof, Plumbing, & Individual HVAC
- Assumable Financing Option w/ 3.53% Interest Rate
Overview
Located at 544 E. Oakwood Blvd in Chicago's Bronzeville neighborhood, this 16,100 square foot multifamily property presents an investment opportunity. The building features nineteen units, including sixteen two-bedroom, one-bathroom units; two three-bedroom, two-bathroom units; and one four-bedroom, two-bathroom unit. All units have spacious layouts, individual HVAC systems, and hardwood flooring. There are four additional garden units that offer potential for renovation and increased rental income. The building has newer windows, a new roof, updated plumbing, and a silver-coated roof. Original marble common areas and an on-site laundry facility are included. The building is minutes from downtown Chicago and steps from Lake Michigan. The property has the option to assume existing Freddie Mac financing with an approximate loan balance of $2,580,000, a 3.53% interest rate, and two years of interest-only payments remaining, with nine years until maturity. The property is situated on a 0.37-acre lot.
Local Financial Insights For Multifamily LT 5
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 | $405.7k | $25.20 |
| − Vacancy | −$22.3k | −$1.39 |
| EGI | $383.4k | $23.81 |
| − OpEx | −$115.0k | −$7.14 |
| NOI | $268.4k | $16.67 |
16,100 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$3.83M
$3.35M – $4.47M
NOI $268,384 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$3.53M
$3.08M – $4.11M
NOI $246,799 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$7.59M
$6.64M – $8.86M
NOI $531,377 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Residential income homes
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6099
- Latitude
- 41.8194
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - 16,100 SF 19 unit building in the coveted Bronzeville neighborhood of Chicago.
Where is this multifamily property located?
The property is located at 544 E Oakwood Blvd Chicago, IL.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Prime Bronzeville Location; Nineteen (19) Units + Three (3) Potential Garden Units; Sixteen (16) 2Bd/1Ba, Two (2) 3Bd/2Ba, & One (1) 4Bd/2Ba
