Brick 4-Unit Income
17 Garfield Street Oak Park, IL 60304
17 Garfield Street, Oak Park, IL, 60304
$900,000
For Sale
$900,000
Four occupied 2 bed/1 bath units in a vintage brick building with updated kitchens and baths, plus a detached 4-car garage.
Property Size5,000 SF
Lot Size0.14 Acres
Price / SF$180
Days on Market47
Property Features for 17 Garfield Street
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Lot size
- 0.14 Acres
- Property subtype
- Two to Four Units / 4 Flat
Building Details
- Year Built
- 1925
Listing agency
Illinois Discount Realty
(800) 403-8716
Listed by
Vanessa Carlson · License #471016540
(800) 403-8716
Source
Compass
Added: Jun 6 Updated: Jul 21 at 4:02PM Checked: Jul 21 at 4:02PM
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 Illinois Discount Realty
Investment Insights
Based on property information with market context.
This brick, vintage 1925 four-unit multifamily property is fully occupied and offers four spacious 2 bed/1 bath apartments. Units feature original hardwood floors, tall ceilings, vintage trim, ceiling fans, and abundant natural light. Kitchens and baths have been updated, and each unit includes a full appliance package with stove, refrigerator, dishwasher, and pantry. A full unfinished basement adds storage capacity and may support future improvements. The property also includes a detached 4-car garage and additional exterior space.
The building sits on an oversized 50x125 lot and includes a rear porch and a fully enclosed wooden privacy fence. Tenant utility responsibility includes electric and gas, which helps reduce operating expense exposure. The property is being sold as-is.
With all units leased, the current setup provides immediate rental income, supported by in-unit amenities and an enclosed outdoor area intended to improve tenant retention.
The building sits on an oversized 50x125 lot and includes a rear porch and a fully enclosed wooden privacy fence. Tenant utility responsibility includes electric and gas, which helps reduce operating expense exposure. The property is being sold as-is.
With all units leased, the current setup provides immediate rental income, supported by in-unit amenities and an enclosed outdoor area intended to improve tenant retention.
Key Highlights
- 1925 vintage brick 4‑unit building with all units occupied and four 2 bed/1 bath apartments
- Oversized 50x125 lot with classic features including original hardwood floors, tall ceilings, vintage trim, ceiling fans, and abundant natural light
- Updated kitchens and baths; each unit includes a full appliance package with stove, refrigerator, dishwasher, and pantry
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 | $100.2k | $20.04 |
| − Vacancy | −$7.5k | −$1.50 |
| EGI | $92.7k | $18.54 |
| − OpEx | −$27.8k | −$5.56 |
| NOI | $64.9k | $12.98 |
5,000 SF · lease $20.04/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$926.8K
$811.0K – $1.08M
NOI $64,879 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$828.6K
$725.1K – $966.7K
NOI $58,004 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,839 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Four occupied 2 bed/1 bath units in a vintage brick building with updated kitchens and baths, plus a detached 4-car garage.
Where is this quadplex located?
The property is located at 17 Garfield Street Oak Park, IL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 1925 vintage brick 4‑unit building with all units occupied and four 2 bed/1 bath apartments; Oversized 50x125 lot with classic features including original hardwood floors, tall ceilings, vintage trim, ceiling fans, and abundant natural light; Updated kitchens and baths; each unit includes a full appliance package with stove, refrigerator, dishwasher, and pantry
