Corner Multifamily
For Sale
$999,000
2301 S Laramie Avenue, Cicero, IL 60804
Updated kitchens, appliances, bathrooms, and windows support the building’s residential configuration.
Property Size3,612 SF
Price / SF$276.58
Days on Market11
Property Features for 2301 S Laramie Avenue
General Information
Standard status
Active
Size
3,612 SF
Property subtype
Two to Four Units
Additional Details
Gross Income
$100,000
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,152
Amenities
Crawl Space
6
10
4
Lake Michigan
80 X 25
No
Building Details
Year Built
1899
Listing Agency:
(708) 787-2808
Listed By:
Gianni Davila
Source:
Kawashgroup
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 12:13PM
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 Gianni Davila
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,612-square-foot multifamily building dates to 1899 and has undergone a full interior renovation. The work included new kitchens, appliances, bathrooms, and windows. The property is identified as a corner building.
Cermak’s retail corridor, with shops and restaurants, is one block away; the CTA train stop is approximately 1.5 blocks from the property.
Cermak’s retail corridor, with shops and restaurants, is one block away; the CTA train stop is approximately 1.5 blocks from the property.
Key Highlights
- 3,612‑square‑foot multifamily building
- Full interior renovation with new kitchens, appliances, bathrooms, and windows
- Corner building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,902
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,040
$838.0K
Cap Rate 7%
$598,600
$598.6K
Cap Rate 9%
$465,578
$465.6K
Market Conditions
NOI Build-Up for 3,612 SF
Gross rent
$81.9K $22.68/SF
− Vacancy
−$5.7K −$1.59/SF
EGI
$76.2K $21.09/SF
− OpEx
−$34.3K −$9.49/SF
NOI
$41.9K $11.60/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,040
Cap Rate 7%
$598,600
Cap Rate 9%
$465,578
Alternative Uses
Best Use
Apartment 5plus
$598.6K
$523.8K – $698.4K
NOI $41,902 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,294 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 60804, IL
85,673
Population
26,738
Households
3.2
Avg Household Size
32
Median Age
11%
College-Educated
68%
High-School Grad
7.1 sq mi
ZIP Area
12,067
Density / Sq Mi
$68,548
Median Household Income
$36,786
Median Earnings
$1,121
Median Rent
$236,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Updated kitchens, appliances, bathrooms, and windows support the building’s residential configuration.
Where is this multifamily property located?
The property is located at 2301 S Laramie Avenue Cicero, IL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 3,612‑square‑foot multifamily building; Full interior renovation with new kitchens, appliances, bathrooms, and windows; Corner building
