Logan Square Multi-Unit
For Sale
Contact for pricing
2328 N Lawndale Avenue, Chicago, IL 60647
Spacious units near transportation, retail, and dining.
Property Size1,700 SF
Price / SF$458.24
Days on Market84
Property Features for 2328 N Lawndale Avenue
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Multifamily
Building Details
Year Built
1963
Listing Agency:
RE/MAX Premier
Listed By:
Eduardo Padro · License #IL
Source:
Crexi
Added: May 11
Changed: Jul 10
Last Checked: Aug 1 at 2:18PM
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 RE/MAX Premier
Investment Insights
Based on property information with market context.
This Logan Square multi-unit brick building features 1,700 square foot units on the first and second floor levels. The large, spacious units include a living room, kitchen, dining room, and two bedrooms. A rear heated sunroom offers the potential to be converted into a third bedroom to maximize use and rental income. The fully renovated basement unit includes a living room, kitchen, one bedroom, plus an additional room at the rear of the building with laundry room potential. All utilities are separate, with 3 boilers for base-board heating, 3 water heaters, and 3 electrical panels. The property includes a good-sized rear yard and a 2-car garage. It is within walking distance to a supermarket, restaurants, shops, and retail. The Healy Metra Train Station is a short distance away, and the Blue Line Train Station is 1.2 miles away.
Key Highlights
- Spacious 1,700 Sq Ft units on the 1st & 2nd floors feature large rooms.
- Fully renovated basement unit offers additional living space.
- Potential to convert rear heated Sunroom into a 3rd Bedroom.
Financial Insights For Apartment 5plus
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 | $50.0k | $29.40 |
| − Vacancy | −$2.6k | −$1.53 |
| EGI | $47.4k | $27.87 |
| − OpEx | −$21.3k | −$12.54 |
| NOI | $26.1k | $15.33 |
1,700 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$372.3K
$325.8K – $434.3K
NOI $26,060 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$801.5K
$701.4K – $935.1K
NOI $56,108 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,062
Businesses Nearby
Explore this area
Business Placement
Demographics for 60647, IL
85,631
Population
41,975
Households
2
Avg Household Size
33
Median Age
61%
College-Educated
92%
High-School Grad
4.0 sq mi
ZIP Area
21,408
Density / Sq Mi
$102,851
Median Household Income
$65,776
Median Earnings
$1,714
Median Rent
$557,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Spacious units near transportation, retail, and dining.
Where is this multifamily property located?
The property is located at 2328 N Lawndale Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Spacious 1,700 Sq Ft units on the 1st & 2nd floors feature large rooms.; Fully renovated basement unit offers additional living space.; Potential to convert rear heated Sunroom into a 3rd Bedroom.
