Greystone 3-Unit Multifamily
4448 North Tripp Avenue Chicago, IL 60630
4448 North Tripp Avenue, Chicago, IL, 60630
$1,399,000
For Sale
$1,399,000
Three residential units in a Greystone-style building with fenced backyard and multiple levels, including basement studio access.
Property Size3,927 SF
Price / SF$356.25
Days on Market32
Property Features for 4448 North Tripp Avenue
General Information
- Standard status
- Active
- Size
- 3,927 SF
- Property subtype
- Two to Four Units / 2 Story Unit/S
Building Details
- Year Built
- 1910
Listing agency
RE/MAX Top Performers
(847) 295-0800
Listed by
Jane Lee · License #471004433
(847) 295-0800
Source
Compass
Added: Jun 21 Updated: Jul 21 at 12:02PM Checked: Jul 22 at 6:42AM
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 RE/MAX Top Performers
Investment Insights
Based on property information with market context.
This Greystone vintage 3-unit building offers flexible, multi-level living with a mix of bedrooms and bathrooms across the first- and second-floor residences plus a basement studio unit. A hardwood staircase provides access to the first- and second-floor units, while the rear staircase offers additional internal circulation, including rooftop access. The second-floor home features a bright living room with oversized windows, a primary suite with private balcony access, and an open family room and kitchen area centered around a fireplace with both gas and wood-burning options. Laundry is located within the unit, and the kitchen includes stainless steel appliances, a center island with breakfast bar seating, and pantry storage. The first-floor unit includes its own fully equipped kitchen, two full bathrooms, dedicated laundry, and alarm sensors installed on every window. The basement studio has a dedicated recreation room and utility area, a separate laundry room for the lower-level residence, a full kitchen with stainless steel appliances and range hood, and one full and one half bathroom.
The property includes a landscaped, fenced backyard with a brick paver patio and multiple outdoor seating areas. It is equipped with multiple tankless water heaters, multiple zoned furnaces, multiple sump pumps, and a comprehensive security system. Conveniently positioned near public transportation, bus routes, restaurants, grocery stores, and shopping.
The property includes a landscaped, fenced backyard with a brick paver patio and multiple outdoor seating areas. It is equipped with multiple tankless water heaters, multiple zoned furnaces, multiple sump pumps, and a comprehensive security system. Conveniently positioned near public transportation, bus routes, restaurants, grocery stores, and shopping.
Key Highlights
- 3‑unit Greystone‑style building built in 1910 with 5 bedrooms plus 5 full and 1 half bathrooms
- Second‑floor unit features an English skylight lantern, oversized windows, a primary suite with balcony access, and two full bathrooms (including a walk‑in steam shower and soaking tub)
- Open‑concept family room and kitchen with a cozy fireplace offering both gas and wood‑burning options, plus stainless steel appliances and a center island with breakfast bar seating
Local Financial Insights For Multifamily LT 5
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 | $99.0k | $25.20 |
| − Vacancy | −$5.4k | −$1.39 |
| EGI | $93.5k | $23.81 |
| − OpEx | −$28.1k | −$7.14 |
| NOI | $65.5k | $16.67 |
3,927 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$935.2K
$818.3K – $1.09M
NOI $65,462 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$860.0K
$752.5K – $1.00M
NOI $60,198 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,610 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three residential units in a Greystone-style building with fenced backyard and multiple levels, including basement studio access.
Where is this triplex located?
The property is located at 4448 North Tripp Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 3‑unit Greystone‑style building built in 1910 with 5 bedrooms plus 5 full and 1 half bathrooms; Second‑floor unit features an English skylight lantern, oversized windows, a primary suite with balcony access, and two full bathrooms (including a walk‑in steam shower and soaking tub); Open‑concept family room and kitchen with a cozy fireplace offering both gas and wood‑burning options, plus stainless steel appliances and a center island with breakfast bar seating
