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    1303 W Ohio St Chicago, IL 60642

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    For Sale
    $1,300,000

    Six units in West Town with significant rental upside potential.

    Lot size:
    0.06 Acres

    Property Features for 1303 W Ohio St

    General Information

    Standard status
    Active
    Lot size
    0.06 Acres

    Building Details

    Year built
    1892

    Source: PETER DROSSOS REAL ESTATE Agent PETER DROSSOS

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    West Town 6-Unit Multifamily Building

    This all-brick building in West Town comprises six units. One unit features a 1-bedroom, 1-bathroom layout, while the remaining five units offer 2-bedroom, 1-bathroom configurations. All units are currently under month-to-month leases at below-market rents, presenting an opportunity for rent increases with cosmetic improvements. The units feature an open concept floor plan, exposed kitchen, high ceilings, and large windows providing natural light. The property's location offers proximity to the Kennedy Expressway, Ogden International School of Chicago, Fulton Market, restaurants, transportation options, and parks, contributing to strong rental demand and low vacancy rates. The property is suitable for investors looking to increase rental income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6597655
    Latitude
    41.8922511

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    FAQs

    What type of property is this?
    Apartment building - Six units in West Town with significant rental upside potential.
    Where is this apartment building located?
    The property is located at 1303 W Ohio St Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: - Significant potential for increased rental income.; - Prime West Town location with strong rental demand.; - Six-unit building with a mix of one and two-bedroom units.
    (773) 593-5626
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    1303 W Ohio St Chicago, IL 60642
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    Realmo Value Estimation

    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.

    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.

    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
    1303 W Ohio St Chicago, IL 60642
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