3-Unit Building With
For Sale
$1,199,000
4621 N Lawndale Avenue, Chicago, IL 60625
Residential Income, Chicago, IL
Property Size4,590 SF
Price / SF$261.22
Days on Market52
Property Features for 4621 N Lawndale Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Den, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 2, Basement
Parking
3
Parking features
Garage, Open
Basement
Unfinished, Full
Elementary school district
299
Middle school district
299
High school district
299
Directions
Lawrence West of Kimball or East of Pulaski, South on Lawndale to property.
Subdivision
CHI - Albany Park
Standard status
Active
APN
13141120070000
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
12640
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Electric (Heating)
Water source
Public
Building Details
Year built
1921
Building materials
Aluminum Siding, Vinyl Siding, Brick
Roof type
Flat
Listing Agency:
Worth Clark Realty
(800) 991-6092
Listed By:
Marvin Bornschlegl
(800) 991-6092
Added: Jul 13
Changed: Aug 20
Last Checked: Sep 2 at 1:06AM
MLS# 12702801
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1921, this triplex contains three two-bedroom, one-bath apartments within a 4,590-square-foot building. Each residence has its own forced-air heating system, with provisions for adding central air conditioning. Interior features include hardwood flooring, crown molding, decorative fireplaces, pantries, generous closet storage, and an additional 8'6" by 7'6" room.
The 1,400-square-foot unfinished basement adds substantial storage or future-use space. A three-vehicle garage and open parking support the property, while public water and public sewer serve the building. The address is positioned facing Jensen Park on a tree-lined residential street and is close to public transportation.
The 1,400-square-foot unfinished basement adds substantial storage or future-use space. A three-vehicle garage and open parking support the property, while public water and public sewer serve the building. The address is positioned facing Jensen Park on a tree-lined residential street and is close to public transportation.
Key Highlights
- Three two‑bedroom, one‑bath rental units
- 4,590‑square‑foot triplex built in 1921
- Each unit has an independent forced‑air heating system
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$76,514
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,530,280
$1.5M
Cap Rate 7%
$1,093,057
$1.1M
Cap Rate 9%
$850,156
$850.2K
Market Conditions
NOI Build-Up for 4,590 SF
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.
Gross rent
$115.7K $25.20/SF
− Vacancy
−$6.4K −$1.39/SF
EGI
$109.3K $23.81/SF
− OpEx
−$32.8K −$7.14/SF
NOI
$76.5K $16.67/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,530,280
Cap Rate 7%
$1,093,057
Cap Rate 9%
$850,156
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$956.4K – $1.28M
NOI $76,514 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$1.01M
$879.5K – $1.17M
NOI $70,361 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,492 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 60625, IL
76,525
Population
33,932
Households
2.3
Avg Household Size
36
Median Age
54%
College-Educated
87%
High-School Grad
3.8 sq mi
ZIP Area
20,138
Density / Sq Mi
$85,299
Median Household Income
$48,314
Median Earnings
$1,455
Median Rent
$396,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three rental residences offer independent forced-air heating, hardwood floors, fireplaces, pantries, and additional flex rooms.
Where is this triplex located?
The property is located at 4621 N Lawndale Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Three two‑bedroom, one‑bath rental units; 4,590‑square‑foot triplex built in 1921; Each unit has an independent forced‑air heating system
