18-Unit Brick Courtyard
4031 W Gladys Ave Chicago, IL 60624
For Sale
Contact for pricing
Pending
18-unit brick courtyard building with a 2BD/1BA and 3BD/1BA mix and major 2023–2024 system upgrades.
Days on Market320
Property Features for 4031 W Gladys Ave
General Information
- Standard status
- Pending
- Property subtype
- Multifamily
Listing Agency:
ALLURE Real Estate
(312) 772-2820
Listed By:
Cecil Sabu · License #471.019943
Source:
Crexi
Added: Sep 9, 2025
Changed: Jul 22
Last Checked: Jul 25 at 4:40AM
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 ALLURE Real Estate
Investment Insights
Based on property information with market context.
4031 W Gladys Ave is an 18-unit brick courtyard apartment building built in 1929, featuring twelve 2BD/1BA units and six 3BD/1BA units. Units have hardwood floors and efficient layouts. Ownership has completed several major improvements, including a new roof in 2023, a new Weil-McLain boiler in 2024, updated plumbing and electrical, newer porches, and modern hot water systems.
The property is currently described as cash flowing at approximately a 10% cap rate with NOI around $117K. The marketing materials note HUD restrictions expiring in January 2026, which is presented as a key driver for increasing income potential beyond current levels. An expansion option is also included: the adjacent city-owned lot at 4037 W Gladys is available through the City of Chicago’s ChiBuilder program, offering flexibility to expand the footprint in the future or use the lot as on-site parking until ready to develop.
Located in Chicago’s West Garfield Park, the building is positioned for commuter convenience with access to the CTA Blue Line Pulaski Station, multiple bus routes, and the I-290 Eisenhower Expressway, described as minutes away.
The property is currently described as cash flowing at approximately a 10% cap rate with NOI around $117K. The marketing materials note HUD restrictions expiring in January 2026, which is presented as a key driver for increasing income potential beyond current levels. An expansion option is also included: the adjacent city-owned lot at 4037 W Gladys is available through the City of Chicago’s ChiBuilder program, offering flexibility to expand the footprint in the future or use the lot as on-site parking until ready to develop.
Located in Chicago’s West Garfield Park, the building is positioned for commuter convenience with access to the CTA Blue Line Pulaski Station, multiple bus routes, and the I-290 Eisenhower Expressway, described as minutes away.
Key Highlights
- 18‑unit brick courtyard building with a unit mix of twelve 2BD/1BA and six 3BD/1BA
- System upgrades include a new roof (2023) and new Weil‑McLain boiler (2024)
- Updated plumbing and electrical, newer porches, and modern hot water systems
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 18-unit brick courtyard building with a 2BD/1BA and 3BD/1BA mix and major 2023–2024 system upgrades.
Where is this apartment building located?
The property is located at 4031 W Gladys Ave Chicago, IL.
What are key features of this property?
This property features: 18‑unit brick courtyard building with a unit mix of twelve 2BD/1BA and six 3BD/1BA; System upgrades include a new roof (2023) and new Weil‑McLain boiler (2024); Updated plumbing and electrical, newer porches, and modern hot water systems
