Avondale Multifamily Investment Opportunity

2955 N Spaulding Avenue, Chicago, IL 60618

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For Sale

$1,600,000

Well-maintained 7-unit building near Logan Square's dining and entertainment.

Type:Commercial

Property size:

7,000 SF

Price / SF:

$228/SF

HighLights

Prime location: Two blocks from the Blue Line and steps from Logan Square's dining and entertainment.
Strong cash‑flowing investment in a high‑demand neighborhood.
Diverse unit mix: Includes a four‑bedroom duplex‑up, three two‑bed/one‑bath units, two one‑bed/one‑bath units, and a garden apartment with coach house.
Recent capital improvements: New sewer connection, gutters, sump pump/flood prevention, and basement windows.
Units feature refinished hardwood floors, updated kitchens and baths, and individual gas heat and hot water tanks.
In‑unit laundry in four units, plus common laundry in the basement.

We can help!

Listing Contact

STEVEN POWERS

For Sale

$1,600,000

Well-maintained 7-unit building near Logan Square's dining and entertainment.

Type:Commercial

Property size:

7,000 SF

Price / SF:

$228/SF

Added:: Sep 11, 2025
Days on Market:: 277
Last Refresh:: Apr 5 at 8:30 pm

Property Features for 2955 N Spaulding Avenue

General Information

Standard status: Active
Size: 7,000 SF
Property subtype: Commercial

Building Details

Year Built: 1886

We can help!

Listing Contact

STEVEN POWERS

Listing agent STEVEN POWERS License #475146920

Listing office CENTURY 21 S.G.R., INC.

Listing date Sep 11, 2025

Source Corcoran

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.

HighLights

Prime location: Two blocks from the Blue Line and steps from Logan Square's dining and entertainment.
Strong cash‑flowing investment in a high‑demand neighborhood.
Diverse unit mix: Includes a four‑bedroom duplex‑up, three two‑bed/one‑bath units, two one‑bed/one‑bath units, and a garden apartment with coach house.
Recent capital improvements: New sewer connection, gutters, sump pump/flood prevention, and basement windows.
Units feature refinished hardwood floors, updated kitchens and baths, and individual gas heat and hot water tanks.
In‑unit laundry in four units, plus common laundry in the basement.

Overview

This well-maintained Avondale property features a mix of apartments, including a four-bedroom duplex-up, three two-bed/one-bath units, two one-bed/one-bath units, and a garden apartment that also leases the attached coach house. Together, they provide over 7,000 sq. ft. of rentable space across a 3 1/2-story all-brick front building and a single-story all-brick coach house. Each unit features refinished hardwood floors, updated kitchens and baths, and individual gas heat and hot water tanks. Four units enjoy private in-unit laundry, while additional common laundry is available in the basement. The property has benefited from significant recent capital improvements, including a new sewer connection (2022), gutters (2021), basement sump pump and flood prevention system (2020), and new basement windows (2020). Ideally located just two blocks from the Blue Line and steps from the heart of Logan Square's dining and entertainment scene, this property consistently attracts tenants and represents a strong cash-flowing investment in one of Chicago's most in-demand neighborhoods.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$195.7k	$27.96
− Vacancy	−$11.4k	−$1.62
EGI	$184.4k	$26.34
− OpEx	−$83.0k	−$11.85
NOI	$101.4k	$14.49

7,000 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.45M

$1.27M – $1.69M (±1% cap)

NOI $101,403 @ 7.0% cap · market cap 6.34%

Second Best

—

no second resolved use

Theoretical Best

Office A

$3.06M

$2.68M – $3.57M (±1% cap)

NOI $214,091 @ 7.0% cap · market cap 13.38%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.7096
Latitude: 41.9355

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For sale
Apartment buildings
IL
Chicago
60618
2955 N Spaulding Avenue

What type of property is this?

Apartment building - Well-maintained 7-unit building near Logan Square's dining and entertainment.

Where is this apartment building located?

The property is located at 2955 N Spaulding Avenue Chicago, IL.

What is the asking price?

The asking price for this property is $1,600,000.

What are key features of this property?

This property features: Prime location: Two blocks from the Blue Line and steps from Logan Square's dining and entertainment.; Strong cash‑flowing investment in a high‑demand neighborhood.; Diverse unit mix: Includes a four‑bedroom duplex‑up, three two‑bed/one‑bath units, two one‑bed/one‑bath units, and a garden apartment with coach house.