Brick 6-Unit Income
3405 South Union Avenue Chicago, IL 60616
3405 South Union Avenue, Chicago, IL, 60616
$1,199,000
For Sale
$1,199,000
Solid brick 6-unit property with four-room, two-bedroom, one-bath units and newer windows throughout.
Property Size3,125 SF
Price / SF$383.68
Days on Market378
Property Features for 3405 South Union Avenue
General Information
- Standard status
- Active
- Size
- 3,125 SF
- Property subtype
- Multi Family 5+ / Flats
Building Details
- Year Built
- 1880
Listing agency
CHICAGO HANDSHAKE LLC
(773) 425-2113
Listed by
Arden Fowler · License #471022824
(773) 425-2113
Source
Compass
Added: Jul 11, 2025 Updated: Jul 21 at 1:22AM Checked: Jul 22 at 10:27AM
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 CHICAGO HANDSHAKE LLC
Investment Insights
Based on property information with market context.
This solid brick 6-unit income property features front and back layouts with four-room, two-bedroom, one-bath units. The buildings have new windows, and the property includes separate GHF. Three of the units have updated kitchens and baths, while the remaining three units have stable, long-term tenants.
The property is located near Sox Park, close to restaurants, shops, and businesses along Halsted and 35th Street.
From a practical standpoint, the configuration supports an investor profile seeking manageable unit mix with recent building window improvements and a combination of updated and long-term tenant occupancy.
The property is located near Sox Park, close to restaurants, shops, and businesses along Halsted and 35th Street.
From a practical standpoint, the configuration supports an investor profile seeking manageable unit mix with recent building window improvements and a combination of updated and long-term tenant occupancy.
Key Highlights
- Solid brick 6‑unit income property near Sox Park
- Unit mix: four‑room 2‑bedroom, 1‑bath units in both front and back buildings
- New windows installed in the buildings
Local 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 | $91.9k | $29.40 |
| − Vacancy | −$4.8k | −$1.53 |
| EGI | $87.1k | $27.87 |
| − OpEx | −$39.2k | −$12.54 |
| NOI | $47.9k | $15.33 |
3,125 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$684.3K
$598.8K – $798.4K
NOI $47,904 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,140 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Solid brick 6-unit property with four-room, two-bedroom, one-bath units and newer windows throughout.
Where is this apartment building located?
The property is located at 3405 South Union Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Solid brick 6‑unit income property near Sox Park; Unit mix: four‑room 2‑bedroom, 1‑bath units in both front and back buildings; New windows installed in the buildings
