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    Garfield Park Turnkey Apartment Building Title is generated by Realmo AI

    4357 W West End Avenue, Chicago, IL 60624

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    For Sale
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    Fully rented 18-unit apartment building in prime location.

    Type:Multifamily
    Lot size:
    0.26 Acres
    Added:
    Mar 19, 2026
    Days on Market:
    64
    Last Refresh:
    Mar 21 at 8:42 pm

    Property Features for 4357 W West End Avenue

    General Information

    Standard status
    Active
    Lot size
    0.26 Acres
    Property subtype
    Multifamily

    Building Details

    Year Built
    1901

    We can help!

    Listing Contact
    Michael Frank
    Michael Frank

    Listing agent Michael Frank License #IL 475.129769

    Listing office Keller Williams Preferred Realty

    Listing date Mar 19, 2026

    Source Crexi

    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 Keller Williams Preferred Realty

    HighLights

    • 8.2% Cap Rate in Prime Garfield Park Location
    • Turnkey, Fully Rented 18‑Unit Apartment Building
    • Remodeled Apartments featuring Modern Kitchens & Bathrooms, Hardwood Floors
    • Individual Gas Forced Air Furnaces (Tenants Pay Heat)
    • Opportunity Zone Location with AHSAP 35% Tax Reduction
    • Close to Transportation (CTA, Expressway) and Amenities (Park, School)

    Overview

    This is an outstanding, turnkey, previously fully rehabbed, fully rented, 18-unit apartment building located in Garfield Park. The property is situated in a prime location on a 75x150 foot corner lot with RT-4 zoning. The building comprises 6 three-bedroom and 12 two-bedroom apartments. All apartments have been remodeled with modern kitchens and bathrooms. Hardwood floors are installed throughout the living areas and bedrooms. The building features 800 Amp electrical service, and the water heaters were replaced in 2023. Street parking is readily available. The location is near Tilton Elementary School, Garfield Park Conservatory, ponds, gardens, and athletic facilities, Pulaski CTA Green & Blue Line stops, and 290 Expressway. The Chicago Loop is five miles away. Each unit has its own individual gas forced air furnace. Tenants are responsible for electric and heat. A cashless laundry facility on site provides additional income. The property is located within an opportunity zone and benefits from an AHSAP 35% tax reduction.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7351144
    Latitude
    41.8828315

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    FAQs

    What type of property is this?
    Apartment building - Fully rented 18-unit apartment building in prime location.
    Where is this apartment building located?
    The property is located at 4357 W West End Avenue Chicago, IL.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: 8.2% Cap Rate in Prime Garfield Park Location; Turnkey, Fully Rented 18‑Unit Apartment Building; Remodeled Apartments featuring Modern Kitchens & Bathrooms, Hardwood Floors
    (773) 251-8963 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Michael Frank
    Michael Frank
    Real Estate License ID: IL 475.129769
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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