All-Brick 4-Unit with Coach
2953 S Emerald Avenue Chicago, IL 60616
For Sale
$950,000
All-brick four-unit property with a coach house, separate furnaces, and a full unfinished basement with laundry.
Property Size2,400 SF
Price / SF$395.83
Days on Market154
Property Features for 2953 S Emerald Avenue
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1900
Listing Agency:
Kale Realty
(312) 515-4617
Listed By:
QianKun Chen · License #475171061
(312) 515-4617
Source:
Xome
Added: Feb 20
Changed: Jul 23
Last Checked: Jul 24 at 4:58AM
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 Kale Realty
Investment Insights
Based on property information with market context.
This all-brick four-unit residential income property includes a coach house in back. The home is described as well maintained, with updates that include newer electric, copper piping, and front and back porches. Each unit has a separate furnace, supporting independent heat service. The property also features a full unfinished basement with laundry.
Located in the Healy School District, the building is currently fully occupied with all units rented to tenants. The public remarks note that tenants pay utilities.
As presented, the configuration offers multiple income-generating units plus an additional coach house, with separate heating and utility responsibility noted for each tenant.
Located in the Healy School District, the building is currently fully occupied with all units rented to tenants. The public remarks note that tenants pay utilities.
As presented, the configuration offers multiple income-generating units plus an additional coach house, with separate heating and utility responsibility noted for each tenant.
Key Highlights
- All‑brick 4‑unit property with a coach house in back
- Updates include newer electric and copper piping
- Each unit has its own separate furnace
Financial Insights For Multifamily LT 5
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 | $60.5k | $25.20 |
| − Vacancy | −$3.3k | −$1.39 |
| EGI | $57.2k | $23.81 |
| − OpEx | −$17.1k | −$7.14 |
| NOI | $40.0k | $16.67 |
2,400 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$571.5K
$500.1K – $666.8K
NOI $40,008 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$525.6K
$459.9K – $613.2K
NOI $36,790 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.13M
$990.2K – $1.32M
NOI $79,212 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - All-brick four-unit property with a coach house, separate furnaces, and a full unfinished basement with laundry.
Where is this quadplex located?
The property is located at 2953 S Emerald Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: All‑brick 4‑unit property with a coach house in back; Updates include newer electric and copper piping; Each unit has its own separate furnace
