358 Yates Avenue, Calumet City, IL 60409
MULTI_FAMILY - Calumet City, IL
- Added:
- Jul 1, 2026
- Days on Market:
- 5
- Last Refresh:
- Jul 5 at 10:06 pm
Property Features for 358 Yates Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 15
- Bathrooms
- 7
- Rooms
- Bedroom 7, Bedroom 14, Bathroom 6, Bathroom 7, Bedroom 9, Bedroom 15, Bedroom 11, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 4, Bedroom 1, Bedroom 10, Bedroom 12, Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 4, Bathroom 5, Bedroom 13, Bedroom 8
- Standard status
- Active
- APN
- 29122110280000
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 33560
Building Details
- Year built
- 1967
- Floors in Building
- 3
- Number of units
- 7
Listing agent Anthony Hardy License #475139834 (312) 216-2422
Listing office Keller Williams ONEChicago 2211 N Elston Ave STE 400, Chicago, IL (312) 216-2422
Listing date Jul 1, 2026
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 7‑unit multifamily property built in 1967 in Calumet City, IL
- Unit mix: six 2‑bedroom/1‑bath units and one 3‑bedroom/1‑bath unit
- Stabilized pro forma income assumes $1,525/mo for 2‑bedroom units and $1,800/mo for the 3‑bedroom unit
- Projected stabilized effective gross income of $124,830 after a 5% vacancy factor; estimated NOI of $59,559.80
- Estimated renovation budget of $105,000 ($15,000 per unit) for turnover, unit repairs, and stabilization needs
- At a $300,000 offering price, pro forma cap rate is 19.85% and projected yield on cost is 14.71%
Overview
The property is for sale in Calumet City, Illinois. As presented, the stabilized pro forma assumes market-rate rents for the 2-bedroom units and the 3-bedroom unit, including a vacancy factor to arrive at projected effective gross income. Total operating expenses, including property taxes, are estimated to support a stabilized net operating income figure.
For investors and operators, the asset offers an opportunity to acquire and execute a defined capital improvement plan with the goal of reaching stabilization. The underwriting provided reflects an elevated value-add profile tied to vacancy/collection risk and the need for renovations, with lease-up and stabilization execution treated as part of the business plan. The property’s unit mix and repositioning framework make it a practical fit for buyers looking to renovate, re-lease, and stabilize a small multifamily building.
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Calumet City
- County
- Cook
- State
- Illinois
- Longitude
- -87.56431
- Latitude
- 41.626762
