7-Unit Apartment
4711 S Greenwood Avenue, Chicago, IL 60615
For Sale
$1,925,000
Original millwork, sunrooms and a central stairwell skylight remain among the building’s features.
Property Size7,830 SF
Price / SF$245.85
Days on Market50
Property Features for 4711 S Greenwood Avenue
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Public Transit
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
@properties Christie's International Real Estate
(312) 953-8685
Listed By:
Doug Fox
(773) 472-0200
Source:
Joy-residential
Added: Sep 22
Changed: Nov 5
Last Checked: Nov 9 at 8:47AM
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 @properties Christie's International Real Estate
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Investment Insights
Based on property information with market context.
Built in 1919, this seven-unit apartment building has four vacant apartments and three occupied on month-to-month leases. Interior details include pocket doors, paneled walls, built-in cabinetry and bookcases, French doors, coffered ceilings, sunrooms, decorative fireplaces and Jack-and-Jill bathrooms. Building improvements include a newer roof, a skylight over the central stairwell and updated circuit breakers.
Public transportation is accessible, and the property is near the University of Chicago, the University of Chicago Medical Center, the Obama Library and the lakefront.
Public transportation is accessible, and the property is near the University of Chicago, the University of Chicago Medical Center, the Obama Library and the lakefront.
Key Highlights
- Seven apartments; four are vacant and three have month‑to‑month leases
- Built in 1919
- Original features include pocket doors, paneled walls, built‑in cabinetry, French doors and coffered ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,027
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,400,540
$2.4M
Cap Rate 7%
$1,714,671
$1.7M
Cap Rate 9%
$1,333,633
$1.3M
Market Conditions
NOI Build-Up for 7,830 SF
Gross rent
$230.2K $29.40/SF
− Vacancy
−$12.0K −$1.53/SF
EGI
$218.2K $27.87/SF
− OpEx
−$98.2K −$12.54/SF
NOI
$120.0K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,400,540
Cap Rate 7%
$1,714,671
Cap Rate 9%
$1,333,633
Alternative Uses
Best Use
Apartment 5plus
$1.71M
$1.50M – $2.00M
NOI $120,027 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.69M
$3.23M – $4.31M
NOI $258,428 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,780
Businesses Nearby
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Business Placement
Demographics for 60615, IL
43,502
Population
24,997
Households
1.7
Avg Household Size
35
Median Age
61%
College-Educated
93%
High-School Grad
2.2 sq mi
ZIP Area
19,774
Density / Sq Mi
$62,105
Median Household Income
$47,186
Median Earnings
$1,444
Median Rent
$305,200
Median Home Value
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Market
Properties on Market for Apartment buildings in Chicago
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Original millwork, sunrooms and a central stairwell skylight remain among the building’s features.
Where is this apartment building located?
The property is located at 4711 S Greenwood Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $1,925,000.
What are key features of this property?
This property features: Seven apartments; four are vacant and three have month‑to‑month leases; Built in 1919; Original features include pocket doors, paneled walls, built‑in cabinetry, French doors and coffered ceilings
