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Renovated Multifamily Property in Chicago

2230 S Sawyer Avenue, Chicago, IL 60623

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For Sale

$960,000

Fully renovated, 6-unit multifamily property in Chicago's Little Village.

Type:Commercial/Industrial

Property size:

4,050 SF

Price / SF:

$237/SF

HighLights

Fully occupied 6‑unit property generating immediate income.
Newly renovated in 2022, minimizing immediate capital expenditures.
Significant potential for rental increases due to below‑market rents.
Prime Little Village location with strong appreciation potential.
Convenient access to Cermak, Kedzie & Ogden CTA bus lines, CTA Train (Pink Line) and I290 & I55 Expressways.
Strong income history indicating reliable investment performance.

We can help!

Contact an agent

Paul Tsakiris

For Sale

$960,000

Fully renovated, 6-unit multifamily property in Chicago's Little Village.

Type:Commercial/Industrial

Property size:

4,050 SF

Price / SF:

$237/SF

Added:: Nov 13, 2024
Days on Market:: 602
Last Refresh:: May 20 at 1:23 am

Property Features for 2230 S Sawyer Avenue

General Information

Standard status: Active
Size: 4,050 SF
Property subtype: Commercial/Industrial

Building Details

Year Built: 1887

We can help!

Contact an agent

Paul Tsakiris

Listing office First Western Properties

Listing date Nov 13, 2024

Source Exitrealty

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 First Western Properties

HighLights

Fully occupied 6‑unit property generating immediate income.
Newly renovated in 2022, minimizing immediate capital expenditures.
Significant potential for rental increases due to below‑market rents.
Prime Little Village location with strong appreciation potential.
Convenient access to Cermak, Kedzie & Ogden CTA bus lines, CTA Train (Pink Line) and I290 & I55 Expressways.
Strong income history indicating reliable investment performance.

Overview

This multifamily property, located in Chicago, presents an investment opportunity. Constructed in 1909 and renovated in 2022, the 4,050 SF building features 6 units and is fully occupied. Situated in the Little Village area, the property offers potential for rental increases and appreciation. The property is conveniently located near Cermak, Kedzie & Ogden CTA bus lines, the CTA Train (Pink Line), and I290 & I55 Expressways.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$119.1k	$29.40
− Vacancy	−$6.2k	−$1.53
EGI	$112.9k	$27.87
− OpEx	−$50.8k	−$12.54
NOI	$62.1k	$15.33

4,050 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$886.9K

$776.0K – $1.03M (±1% cap)

NOI $62,083 @ 7.0% cap · market cap 6.47%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.91M

$1.67M – $2.23M (±1% cap)

NOI $133,669 @ 7.0% cap · market cap 13.92%

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

Property Profile Location Intelligence

Current Use by Public Records

TruLight-Solar Solar Energy Company

Suggested Use

Location Insight

Map
Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.7068
Latitude: 41.8508

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For sale
Apartment buildings
IL
Chicago
60623
2230 S Sawyer Avenue

What type of property is this?

Apartment building - Fully renovated, 6-unit multifamily property in Chicago's Little Village.

Where is this apartment building located?

The property is located at 2230 S Sawyer Avenue Chicago, IL.

What is the asking price?

The asking price for this property is $960,000.

What are key features of this property?

This property features: Fully occupied 6‑unit property generating immediate income.; Newly renovated in 2022, minimizing immediate capital expenditures.; Significant potential for rental increases due to below‑market rents.