4-Unit Multifamily
For Sale
$899,000
Pending
3111 W Foster Avenue, Chicago, IL 60625
Three apartments have two bedrooms and one bath, while the upper-level unit has four bedrooms and two baths.
Property Size2,000 SF
Lot Size0.09 Acres
Days on Market13
Property Features for 3111 W Foster Avenue
General Information
Standard status
Pending
Size
2,000 SF
Total Parking Spaces
2
Lot size
0.09 Acres
Property subtype
Two to Four Units
Site & Location
Neighborhood
North Park
Units
Unit Mix
3 x 2BR/1BA, 1 x 4BR/2BA
Multifamily Units
4
Individually Metered Utilities
gas, electricity
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$11,229
Amenities
gated entrance
concrete patios
Finished,Partial
5
10
4
Lake Michigan
2
(312) 943-9779
30x125
No
Sump Pump,Multiple Water Heaters,Water Heater-Gas
Garage Door Opener,Yes,Garage Owned,Detached,Garage
Concrete Perimeter
Building Details
Year Built
1961
Buildings
1
Listing Agency:
eXp Realty
(630) 401-6210
Listed By:
Andreia Filip
Source:
Generationhomepro
Added: Oct 21
Changed: Nov 1
Last Checked: Oct 31 at 4:41AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This 2,000-square-foot, four-unit building dates to 1961 and sits on a 30-by-125-foot lot. Three apartments are configured with two bedrooms and one bathroom each; the second-floor unit has four bedrooms and two bathrooms. That upper unit could be reconfigured as two units, as it was previously. The building has a detached two-car garage, gated front entry, concrete patios, and separate gas and electric meters for each unit.
The three two-bedroom units use radiant heat from new boilers and have central air conditioning. The upper unit has central HVAC. The property is in North Park, approximately half a mile from Budlong Wood Elementary School, and is addressed on W Foster Avenue in Chicago.
The three two-bedroom units use radiant heat from new boilers and have central air conditioning. The upper unit has central HVAC. The property is in North Park, approximately half a mile from Budlong Wood Elementary School, and is addressed on W Foster Avenue in Chicago.
Key Highlights
- Four‑unit building with a 2,000‑square‑foot building area
- Three 2‑bedroom, 1‑bath units and one 4‑bedroom, 2‑bath unit
- Upper‑level unit can be divided into two units, as it was previously
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,340
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$666,800
$666.8K
Cap Rate 7%
$476,286
$476.3K
Cap Rate 9%
$370,444
$370.4K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$50.4K $25.20/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$47.6K $23.81/SF
− OpEx
−$14.3K −$7.14/SF
NOI
$33.3K $16.67/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$666,800
Cap Rate 7%
$476,286
Cap Rate 9%
$370,444
Alternative Uses
Best Use
Multifamily LT 5
$476.3K
$416.8K – $555.7K
NOI $33,340 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$438.0K
$383.2K – $511.0K
NOI $30,658 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$943.0K
$825.1K – $1.10M
NOI $66,010 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,771
Businesses Nearby
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Business Placement
Demographics for 60625, IL
76,525
Population
33,932
Households
2.3
Avg Household Size
36
Median Age
54%
College-Educated
87%
High-School Grad
3.8 sq mi
ZIP Area
20,138
Density / Sq Mi
$85,299
Median Household Income
$48,314
Median Earnings
$1,455
Median Rent
$396,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Three apartments have two bedrooms and one bath, while the upper-level unit has four bedrooms and two baths.
Where is this quadplex located?
The property is located at 3111 W Foster Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Four‑unit building with a 2,000‑square‑foot building area; Three 2‑bedroom, 1‑bath units and one 4‑bedroom, 2‑bath unit; Upper‑level unit can be divided into two units, as it was previously
