Multifamily Building with Commercial
For Sale
Contact for pricing
2537 W 63rd Street, Chicago, IL 60629
15-unit multifamily building with commercial spaces in Opportunity Zone.
Property Size3,000 SF
Price / SF$400
Days on Market156
Property Features for 2537 W 63rd Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Mixed Use, Multifamily, Retail
Zoning
B1-1
Occupancy
67%
Investment Type
Value Add
Net Operating Income
$68,004
Building Details
Units
15
Tenancy
Multi
Listing Agency:
Real People Realty
Listed By:
Chelsea James · License #475190629
(708) 634-0103
Source:
Crexi
Added: May 11
Changed: Sep 29
Last Checked: Oct 12 at 6:10PM
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 Real People Realty
Investment Insights
Based on property information with market context.
This 15-unit multifamily building includes thirteen 2-bedroom units and two 1,500 square foot commercial spaces. Located in an Opportunity Zone, the 3,000 square foot property offers immediate cash flow. The building has the potential to add on-site laundry and tenant storage. It is suitable for investors looking for short or long term equity.
Key Highlights
- High pro‑forma cap rate offering immediate cash flow.
- Located in an Opportunity Zone.
- Seller financing available.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,625
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,012,500
$1.0M
Cap Rate 7%
$723,214
$723.2K
Cap Rate 9%
$562,500
$562.5K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$90.0K $30.00/SF
− Vacancy
−$9.0K −$3.00/SF
EGI
$81.0K $27.00/SF
− OpEx
−$30.4K −$10.13/SF
NOI
$50.6K $16.88/SF
Area
ZIP 60629
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,012,500
Cap Rate 7%
$723,214
Cap Rate 9%
$562,500
Alternative Uses
Best Use
Mixed Use
$723.2K
$632.8K – $843.8K
NOI $50,625 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$630.0K
$551.2K – $735.0K
NOI $44,099 @ 7.0% cap · market cap 3.67%
Theoretical Best
Warehouse
$2.69M
$2.35M – $3.14M
NOI $188,385 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 60629, IL
114,453
Population
36,283
Households
3.2
Avg Household Size
33
Median Age
14%
College-Educated
74%
High-School Grad
7.0 sq mi
ZIP Area
16,350
Density / Sq Mi
$58,813
Median Household Income
$34,635
Median Earnings
$1,106
Median Rent
$236,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 15-unit multifamily building with commercial spaces in Opportunity Zone.
Where is this mixed-use property located?
The property is located at 2537 W 63rd Street Chicago, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High pro‑forma cap rate offering immediate cash flow.; Located in an Opportunity Zone.; Seller financing available.
