Renovated 9-Unit Apartment
2258 S Sacramento Ave, Chicago, IL 60623
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Renovated 9-unit apartment building at 23rd and Sacramento.
Type:Multifamily
Property size:
8,928 SFPrice / SF:
$173/SF- Added:
- Feb 26, 2026
- Days on Market:
- 86
- Last Refresh:
- Mar 17 at 1:17 pm
Property Features for 2258 S Sacramento Ave
General Information
- Standard status
- Active
- Size
- 8,928 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1911
Listing agent Angelo Labriola License #IL 475130926
Listing office SVN | Chicago Commercial (312) 676-1866
Listing date Feb 26, 2026
Source Crexi
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 SVN | Chicago Commercial
HighLights
- Newer Renovated 9‑Unit Brick Apartment Building (completion Spring 2026) with modern upgrades.
- Diversified and Marketable Unit Mix: Includes 1, 2, 3, and 4‑bedroom units.
- Updated Electrical Systems and New Roof (complete tear off in 2025) ensure low maintenance.
- Modern Amenities: Updated kitchens and baths, in‑unit laundry, and individual HVAC systems (or credit).
- Excellent Location: Corner of 23rd and Sacramento, Lower West Side, with convenient access to public transportation (CTA bus routes and Pink Line) and major expressways (I‑55, I‑290, I‑90/94).
- Strong Cash Flow: Stabilized investment with long‑term multifamily demand and stable occupancy.
Overview
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. The corner exposure 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). The property benefits from a Lower West Side location with access to public transportation, major roadways, and neighborhood amenities. Residents are near CTA bus routes and the Pink Line, including the California and Kedzie stations. There is access to the Stevenson Expressway (I-55), the Eisenhower Expressway (I-290), and I-90/94. Nearby retail corridors along 26th Street, Cermak Road, and Western Avenue provide shopping, dining, and daily convenience options. The area attracts renters seeking affordability, accessibility, and urban convenience.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.52M
NOI $136,859 @ 9.00% cap · cautious / downside scenario
Moderate
$1.96M
NOI $136,859 @ 7.00% cap · market / base-case scenario
Aggressive
$2.74M
NOI $136,859 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $262.5k | $29.40 |
| − Vacancy | −$13.6k | −$1.53 |
| EGI | $248.8k | $27.87 |
| − OpEx | −$112.0k | −$12.54 |
| NOI | $136.9k | $15.33 |
8,928 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.96M
$1.71M – $2.28M
NOI $136,859 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.21M
$3.68M – $4.91M
NOI $294,667 @ 7.0% cap · market cap 19.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.7006574
- Latitude
- 41.8501435
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Renovated 9-unit apartment building at 23rd and Sacramento.
Where is this apartment building located?
The property is located at 2258 S Sacramento Ave 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) with modern upgrades.; Diversified and Marketable Unit Mix: Includes 1, 2, 3, and 4‑bedroom units.; Updated Electrical Systems and New Roof (complete tear off in 2025) ensure low maintenance.
