Multifamily Property Near Little
For Sale
$489,000
2916 West 25th Place, Chicago, IL 60623
Legal 5-unit property near Little Village, Chicago.
Property Size2,880 SF
Price / SF$169.79
Days on Market358
Property Features for 2916 West 25th Place
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Multi Family 5+ / Multi Family 5+-Other
Building Details
Year Built
1888
Listing Agency:
Essex 312, LLC
(773) 209-4785
Listed By:
Mitir Patel · License #475157343
(773) 209-4785
Source:
Compass
Added: Aug 10, 2025
Changed: Jul 10
Last Checked: Aug 1 at 1:45PM
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 Essex 312, LLC
Investment Insights
Based on property information with market context.
This property at 2916 West 25th Place, Chicago, IL 60623 features a legal 5-unit configuration, comprising an all-brick 4-unit building at the front and a coach house at the rear. The property is suitable for both owner-occupants and investors. The building's location offers convenient access to shopping, dining, and recreational amenities. Schools and public transportation are within walking distance, and Interstates I-55 and I-290 are nearby, facilitating access to downtown. The property is professionally managed and generates approximately $54,000 annually with all units rented below market value, presenting opportunities for rent increases.
Key Highlights
- Legal 5‑unit property featuring a 4‑unit building plus a coach house.
- High income potential, grossing nearly $54k annually with below‑market rents.
- The 4‑unit building boasts all‑brick construction.
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 | $84.7k | $29.40 |
| − Vacancy | −$4.4k | −$1.53 |
| EGI | $80.3k | $27.87 |
| − OpEx | −$36.1k | −$12.54 |
| NOI | $44.1k | $15.33 |
2,880 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$630.7K
$551.9K – $735.8K
NOI $44,148 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $95,054 @ 7.0% cap · market cap 19.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,430
Businesses Nearby
Explore this area
Business Placement
Demographics for 60623, IL
87,649
Population
31,300
Households
2.8
Avg Household Size
32
Median Age
14%
College-Educated
69%
High-School Grad
5.4 sq mi
ZIP Area
16,231
Density / Sq Mi
$44,040
Median Household Income
$32,642
Median Earnings
$1,054
Median Rent
$221,400
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?
Apartment building - Legal 5-unit property near Little Village, Chicago.
Where is this apartment building located?
The property is located at 2916 West 25th Place Chicago, IL.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Legal 5‑unit property featuring a 4‑unit building plus a coach house.; High income potential, grossing nearly $54k annually with below‑market rents.; The 4‑unit building boasts all‑brick construction.
