Logan Square Multi-Unit
For Sale
$749,000
2328 N Lawndale Ave, Chicago, IL 60647
Spacious units near transportation, retail, and dining.
Property Size1,700 SF
Price / SF$440.59
Days on Market177
Property Features for 2328 N Lawndale Ave
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Logan Square
Building Details
Year Built
1963
Listing Agency:
Century 21 S.G.R., Inc
Listed By:
Thomas Bezanes · License #471018395
(312) 622-2850
Source:
Highriseschicago
Added: May 14
Changed: Nov 5
Last Checked: Nov 6 at 8:28AM
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 Century 21 S.G.R., Inc
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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
Estimated NOI and Cap Rate
NOI / Yr
$26,060
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,200
$521.2K
Cap Rate 7%
$372,286
$372.3K
Cap Rate 9%
$289,556
$289.6K
Market Conditions
NOI Build-Up for 1,700 SF
Gross rent
$50.0K $29.40/SF
− Vacancy
−$2.6K −$1.53/SF
EGI
$47.4K $27.87/SF
− OpEx
−$21.3K −$12.54/SF
NOI
$26.1K $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%
$521,200
Cap Rate 7%
$372,286
Cap Rate 9%
$289,556
Alternative Uses
Best Use
Apartment 5plus
$372.3K
$325.8K – $434.3K
NOI $26,060 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$801.5K
$701.4K – $935.1K
NOI $56,108 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,062
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Multifamily properties in Chicago
Vacancy Rate% for Multifamily in Midwest region
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 Ave Chicago, IL.
What is the asking price?
The asking price for this property is $749,000.
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.
