Renovated 9-Unit Apartment
2258 S Sacramento Avenue, Chicago, IL 60623
For Sale
$1,550,000
Modernized 9-unit apartment building at 23rd and Sacramento, Chicago.
Property Size8,930 SF
Lot Size0.07 Acres
Price / SF$173.57
Days on Market258
Property Features for 2258 S Sacramento Avenue
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Central Air Cooling
Central Individual Cooling
Composition Roof
Building Details
Year Built
Listing Agency:
SPERRY VAN NESS
(312) 676-1866
Listed By:
ANGELO LABRIOLA · License IL #475130926
(708) 307-7529
Source:
Corcoran
Added: Feb 26
Changed: Aug 8
Last Checked: Aug 8 at 6:12AM
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 SPERRY VAN NESS
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Investment Insights
Based on property information with market context.
Located at the corner of 23rd Street and Sacramento Avenue, this 9-unit brick apartment building is undergoing renovations, with completion expected in spring 2026. The property encompasses approximately 8,930 square feet and includes a full basement. Its corner location provides natural light throughout the building. The unit mix includes one 1-bedroom/1-bath unit, one 3-bedroom/2-bath unit, five 2-bedroom/1-bath units, two 3-bedroom/1-bath units, and one 4-bedroom/2-bath unit. Each apartment features updated kitchens and baths, in-unit laundry, and individual HVAC systems will be installed (or credit) upon sale. Recent capital improvements include updated electrical systems and a new roof (complete tear off in 2025).
Key Highlights
- Newer renovated 9‑unit brick apartment building, completion Spring 2026.
- Diversified unit mix including 1, 2, 3, and 4‑bedroom apartments.
- Modern kitchens and baths in each unit, plus in‑unit laundry.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,889
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,737,780
$2.7M
Cap Rate 7%
$1,955,557
$2.0M
Cap Rate 9%
$1,520,989
$1.5M
Market Conditions
NOI Build-Up for 8,930 SF
Gross rent
$262.5K $29.40/SF
− Vacancy
−$13.7K −$1.53/SF
EGI
$248.9K $27.87/SF
− OpEx
−$112.0K −$12.54/SF
NOI
$136.9K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,737,780
Cap Rate 7%
$1,955,557
Cap Rate 9%
$1,520,989
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.71M – $2.28M
NOI $136,889 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.21M
$3.68M – $4.91M
NOI $294,733 @ 7.0% cap · market cap 19.02%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,813
Businesses Nearby
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Business Placement
Demographics for 60623, IL
87,649
Population
31,300
Households
2.8
Avg Household Size
32
Median Age
14%
College-Educated
69%
High-School Grad
5.4 sq mi
ZIP Area
16,231
Density / Sq Mi
$44,040
Median Household Income
$32,642
Median Earnings
$1,054
Median Rent
$221,400
Median Home Value
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Market
Properties on Market for Apartment buildings in Chicago
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Modernized 9-unit apartment building at 23rd and Sacramento, Chicago.
Where is this apartment building located?
The property is located at 2258 S Sacramento Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Newer renovated 9‑unit brick apartment building, completion Spring 2026.; Diversified unit mix including 1, 2, 3, and 4‑bedroom apartments.; Modern kitchens and baths in each unit, plus in‑unit laundry.
