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North Kenwood Multifamily Investment Opportunity

4627 S Drexel Blvd, Chicago, IL 60653

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For Sale

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35-unit building in historic North Kenwood neighborhood.

Type:Multifamily

Property size:

42,300 SF

Price / SF:

$205/SF

HighLights

High In‑Place Returns: Enjoy an 8% cap rate and 9.87% cash return from day one.
Stabilized, Cash‑Flowing Asset: Provides immediate income and financial security.
Desirable Unit Mix: Features spacious, renovated 1, 2, and 3‑bedroom units.
Premium Location: Situated in North Kenwood, near Lake Michigan and Williams‑Davis Park.
Extensive Renovations: Units feature hardwood floors, stainless steel appliances, and individual laundry.
Rapidly Appreciating Neighborhood: Located in one of Chicago's fastest‑growing areas.

We can help!

Contact an agent

Noah Birk

For Sale

Contact for pricing

35-unit building in historic North Kenwood neighborhood.

Type:Multifamily

Property size:

42,300 SF

Price / SF:

$205/SF

Added:: Feb 23, 2026
Days on Market:: 134
Last Refresh:: Jul 5 at 12:34 am

Property Features for 4627 S Drexel Blvd

General Information

Standard status: Active
Size: 42,300 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

High In‑Place Returns: Enjoy an 8% cap rate and 9.87% cash return from day one.
Stabilized, Cash‑Flowing Asset: Provides immediate income and financial security.
Desirable Unit Mix: Features spacious, renovated 1, 2, and 3‑bedroom units.
Premium Location: Situated in North Kenwood, near Lake Michigan and Williams‑Davis Park.
Extensive Renovations: Units feature hardwood floors, stainless steel appliances, and individual laundry.
Rapidly Appreciating Neighborhood: Located in one of Chicago's fastest‑growing areas.

Overview

Located on a quiet, tree-lined street in Chicago's historic North Kenwood neighborhood, this thirty-five (35) unit building at 4627 S. Drexel offers a desirable unit mix. The property is comprised of three (3) 1Bd/1Ba units, three (3) 2Bd/1Ba units, four (4) 2Bd/2Ba, and twenty-five (25) 3Bd/2Ba units. The units are spacious and have undergone extensive renovations, typically including hardwood floors, stainless steel appliances, individual laundry units, and furnaces. The property is situated in a premier location, just blocks away from Lake Michigan and Williams-Davis Park, providing easy access to S. Lake Shore Dr. and Chicago's downtown. This stabilized, cash-flowing asset is located in a rapidly appreciating neighborhood.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$1.24M	$29.40
− Vacancy	−$64.7k	−$1.53
EGI	$1.18M	$27.87
− OpEx	−$530.5k	−$12.54
NOI	$648.4k	$15.33

42,300 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$9.26M

$8.11M – $10.81M (±1% cap)

NOI $648,423 @ 7.0% cap · market cap 7.47%

Second Best

—

no second resolved use

Theoretical Best

Office A

$19.94M

$17.45M – $23.27M (±1% cap)

NOI $1,396,103 @ 7.0% cap · market cap 16.09%

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

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Chicago
County: Cook
State: Illinois
Longitude: -87.6033685
Latitude: 41.8104476

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For sale
Apartment buildings
IL
Chicago
60653
4627 S Drexel Blvd

What type of property is this?

Apartment building - 35-unit building in historic North Kenwood neighborhood.

Where is this apartment building located?

The property is located at 4627 S Drexel Blvd Chicago, IL.

What is the asking price?

The asking price for this property is $8,675,000.

What are key features of this property?

This property features: High In‑Place Returns: Enjoy an **8% cap rate and 9.87% cash return** from day one.; Stabilized, Cash‑Flowing Asset: Provides immediate income and financial security.; Desirable Unit Mix: Features spacious, renovated 1, 2, and 3‑bedroom units.

4627 S Drexel Blvd, Chicago, IL 60653

35-unit building in historic North Kenwood neighborhood.

Property Features for 4627 S Drexel Blvd

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

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