Multifamily Building With
For Sale
$985,000
4351 N Lockwood Avenue, Chicago, IL 60634
Mixed-use configuration includes four apartments, two leased storefronts, and a detached three-car garage.
Property SizeContact for details
Days on Market9
Property Features for 4351 N Lockwood Avenue
General Information
Standard status
Active
Total Parking Spaces
3
Property subtype
MULTI_FAMILY
Occupancy
100%
Net Operating Income
$74,859
Financials
Cap Rate
7.1%
Gross Income
$105,720
Gross Rent Multiplier
9.9
Average Monthly Rent
$1,408
Units
Unit Mix
2 x 2BR, 2 x 1BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$14,063
Building Details
Year Built
1923
Buildings
2
Tenancy
Multi
Listing Agency:
Compass
(312) 319-1168
Listed By:
Matthew Mika · License #471001481
Source:
Dawnmckennagroup
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 21 at 11:14AM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1923, this multifamily property combines four apartments with two ground-floor storefronts and a detached three-car garage. The front apartments are configured as five-room, two-bedroom units, with layouts that may accommodate three bedrooms depending on use. Two rear apartments are four-room, one-bedroom units. All apartments feature updated kitchens and bathrooms.
The corner storefront is approximately 1,200 SF and occupied by a beauty shop through May 2028. The adjacent approximately 1,100-SF store operates as an art studio under lease through September 2027. The former grocery-store configuration allowed the two retail spaces to function together, providing flexibility within the ground-floor layout. A portion of the basement and the garage are also leased. The roof has a new silicone coating, and the building includes a newer boiler heating system and hot water tank. The property is located at 4351 N Lockwood Avenue in Chicago’s Portage Park area, with a park two blocks south.
The corner storefront is approximately 1,200 SF and occupied by a beauty shop through May 2028. The adjacent approximately 1,100-SF store operates as an art studio under lease through September 2027. The former grocery-store configuration allowed the two retail spaces to function together, providing flexibility within the ground-floor layout. A portion of the basement and the garage are also leased. The roof has a new silicone coating, and the building includes a newer boiler heating system and hot water tank. The property is located at 4351 N Lockwood Avenue in Chicago’s Portage Park area, with a park two blocks south.
Key Highlights
- Four apartments plus two ground‑floor storefronts
- Front units are five‑room, two‑bedroom apartments with layouts that may accommodate three bedrooms
- Rear units are four‑room, one‑bedroom apartments
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,987
Businesses Nearby
Explore this area
Business Placement
Demographics for 60634, IL
75,694
Population
29,344
Households
2.6
Avg Household Size
41
Median Age
27%
College-Educated
87%
High-School Grad
7.1 sq mi
ZIP Area
10,661
Density / Sq Mi
$84,997
Median Household Income
$46,694
Median Earnings
$1,271
Median Rent
$333,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Mixed-use configuration includes four apartments, two leased storefronts, and a detached three-car garage.
Where is this multifamily property located?
The property is located at 4351 N Lockwood Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Four apartments plus two ground‑floor storefronts; Front units are five‑room, two‑bedroom apartments with layouts that may accommodate three bedrooms; Rear units are four‑room, one‑bedroom apartments
