Back to Search

Kenwood Multifamily Asset Opportunity

4612 S Lake Park Ave, Chicago, IL 60653

View on Map

For Sale

Contact for pricing

48-unit multifamily property in Chicago's historic Kenwood neighborhood.

Type:Multifamily

Property size:

50,200 SF

Price / SF:

$223/SF

HighLights

Stabilized, cash‑flowing 48‑unit multifamily asset with an in‑place 7.54% cap rate and 7.99% cash return.
Opportunity to achieve a proforma 8.68% cap rate and 12.54% cash return through rent growth.
Located in Chicago’s historic Kenwood neighborhood, a sought‑after and appreciating South Side location.
Highly desirable unit mix of thirty‑seven (37) 2Bd/1Ba units and eleven (11) 3Bd/1Ba units.
Steps from Lake Michigan and nearby green space.
Convenient access to S. Lake Shore Drive and Chicago’s downtown core.

We can help!

Contact an agent

Noah Birk

Learn more

For Sale

Contact for pricing

48-unit multifamily property in Chicago's historic Kenwood neighborhood.

Type:Multifamily

Property size:

50,200 SF

Price / SF:

$223/SF

Added:: Feb 23, 2026
Days on Market:: 134
Last Refresh:: Jul 4 at 1:12 pm

Property Features for 4612 S Lake Park Ave

General Information

Standard status: Active
Size: 50,200 SF
Property subtype: Multifamily

We can help!

Contact an agent

Noah Birk

Listing office Kiser Group

Listing date Feb 23, 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 Kiser Group

HighLights

Stabilized, cash‑flowing 48‑unit multifamily asset with an in‑place 7.54% cap rate and 7.99% cash return.
Opportunity to achieve a proforma 8.68% cap rate and 12.54% cash return through rent growth.
Located in Chicago’s historic Kenwood neighborhood, a sought‑after and appreciating South Side location.
Highly desirable unit mix of thirty‑seven (37) 2Bd/1Ba units and eleven (11) 3Bd/1Ba units.
Steps from Lake Michigan and nearby green space.
Convenient access to S. Lake Shore Drive and Chicago’s downtown core.

Overview

Located in the heart of Chicago’s historic Kenwood neighborhood, 4612 S. Lake Park Ave is a forty-eight (48) unit multifamily asset. The property is situated along the Lake Park Avenue corridor, steps from Lake Michigan and nearby green space, while offering convenient access to S. Lake Shore Drive and Chicago’s downtown core. The unit mix is comprised of thirty-seven (37) 2Bd/1Ba units and eleven (11) 3Bd/1Ba units. Units are well-maintained and spacious, offering layouts that appeal to the area’s strong renter demographic. The property size is 50200 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$1.48M	$29.40
− Vacancy	−$76.7k	−$1.53
EGI	$1.40M	$27.87
− OpEx	−$629.6k	−$12.54
NOI	$769.5k	$15.33

50,200 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$10.99M

$9.62M – $12.83M (±1% cap)

NOI $769,524 @ 7.0% cap · market cap 6.87%

Second Best

—

no second resolved use

Theoretical Best

Office A

$23.67M

$20.71M – $27.61M (±1% cap)

NOI $1,656,841 @ 7.0% cap · market cap 14.79%

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

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.5949679
Latitude: 41.8106105

Nearby Similar for Sale

$1,300,000

6,400 SF

Renovated Chicago Industrial Flex Warehouse

6,400 SF renovated industrial flex warehouse in Chicago for sale.

3146 W Chicago Avenue, Chicago, IL 60622

View Details
$949,000

4,055 SF

Turnkey Restaurant Venue with PPA License

Fully renovated restaurant with licenses and VGT potential in Chicago.

7455 W Irving Park Road, Chicago, IL 60634

View Details
$949,000

4,055 SF

Turnkey Restaurant Venue with PPA License

Fully renovated restaurant with licenses and uncommitted VGT potential.

7455 W Irving Park Road, Chicago, IL 60634

View Details
$949,000

4,055 SF

Turnkey Restaurant Venue with Licenses

Fully renovated restaurant with licenses and residential unit for sale.

7455 W Irving Park Road, Chicago, IL 60634

View Details
$649,000

2,176 SF

Turnkey Restaurant Opportunity in Chicago

Below-market lease in East Lakeview, fully equipped restaurant with assets.

420 W Belmont Avenue, Chicago, IL 60657

View Details
$759,000

5,000 SF

Prime Retail Space in Chicago

Commercial property in a high-traffic retail district.

4411 N Kedzie Avenue, Chicago, IL 60625

View Details
$1,295,000

9,744 SF

Chicago Office Building with Parking

Two-story office building in Chicago's Clearing neighborhood.

6350 W 63rd Street, Chicago, IL 60638

View Details
$1,700,000

Convenience Store Retail Building with Parking

Turnkey convenience store in brick masonry with outdoor parking, surveillance, workstations, and restrooms—ready for immediate operation.

5132 S Racine Avenue, Chicago, IL 60609

View Details
$459,000

3,000 SF

Chicago Commercial Buildings For Sale

Three commercial buildings in a busy Chicago neighborhood retail location.

1753-1759 W 79th Street, Chicago, IL 60620

View Details
$625,000

4,593 SF

Fulton River District Commercial Loft

Classic timber loft in Fulton River District, Chicago.

566 W Lake Street, Chicago, IL 60661

View Details
$549,900

2,806 SF

Wicker Park Corner Retail Building

2,806 SF retail building in prime Wicker Park location.

2357 W North Avenue, Chicago, IL 60647

View Details
$749,000

Corner Retail Suite in New Elevator Building

New construction corner space in an 18-unit elevator building with optional street parking acquisition.

1445 W Chicago Avenue, Chicago, IL 60642

View Details

For sale
Apartment buildings
IL
Chicago
60653
4612 S Lake Park Ave

What type of property is this?

Apartment building - 48-unit multifamily property in Chicago's historic Kenwood neighborhood.

Where is this apartment building located?

The property is located at 4612 S Lake Park Ave Chicago, IL.

What is the asking price?

The asking price for this property is $11,200,000.

What are key features of this property?

This property features: Stabilized, cash‑flowing 48‑unit multifamily asset with an in‑place 7.54% cap rate and 7.99% cash return.; Opportunity to achieve a proforma 8.68% cap rate and 12.54% cash return through rent growth.; Located in Chicago’s historic Kenwood neighborhood, a sought‑after and appreciating South Side location.

4612 S Lake Park Ave, Chicago, IL 60653

48-unit multifamily property in Chicago's historic Kenwood neighborhood.

Property Features for 4612 S Lake Park Ave

General Information

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Renovated Chicago Industrial Flex Warehouse

Turnkey Restaurant Venue with PPA License

Turnkey Restaurant Venue with PPA License

Turnkey Restaurant Venue with Licenses

Turnkey Restaurant Opportunity in Chicago

Prime Retail Space in Chicago

Chicago Office Building with Parking

Convenience Store Retail Building with Parking

Chicago Commercial Buildings For Sale

Fulton River District Commercial Loft

Wicker Park Corner Retail Building

Corner Retail Suite in New Elevator Building

FAQs