Hubbard Street Multifamily Investment
For Sale
$775,000
Pending
4900 West Hubbard Street, Chicago, IL 60644
Six-unit building with modern renovations and income potential.
Property Size4,000 SF
Days on Market133
Property Features for 4900 West Hubbard Street
General Information
Standard status
Pending
Size
4,000 SF
Total Parking Spaces
10
Property subtype
Two to Four Units / 4 Flat
Zoning
MULTI
Taxes and HOA fees
Annual Taxes
$7,324
Building Details
Year Built
1923
Listing Agency:
Real People Realty
(708) 724-5342
Listed By:
Joseph Reyna · License #475190664
(708) 724-5342
Source:
Compass
Added: Apr 14
Changed: Aug 23
Last Checked: Jul 24 at 3:13PM
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 Real People Realty
Investment Insights
Based on property information with market context.
Located at 4900 W Hubbard Street, this property presents an investment opportunity with four above-grade units, each featuring two bedrooms and one bathroom, along with two in-law garden units that boast impressively high ceilings. Each unit includes an in-unit washer and dryer, as well as access to all unit mechanicals. The units have been renovated with a modern design, while preserving the building's original character in the common areas. The front foyer evokes a downtown condominium feel. The exterior features 10 fenced-in parking spots and a spacious apron due to its corner lot location. A dedicated security room provides local access to the expansive surveillance system. This property offers outstanding income potential for investors or savvy first-time home-buyers.
Key Highlights
- High Income Potential: Ideal for investors or savvy first‑time homebuyers
- Six Units: Features four above‑grade two‑bedroom units and two in‑law garden units
- In‑Unit Washer and Dryer: Each unit is equipped with its own washer and dryer
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
$61,317
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
7.91%
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%
$1,226,340
$1.2M
Cap Rate 7%
$875,957
$876.0K
Cap Rate 9%
$681,300
$681.3K
Market Conditions
NOI Build-Up for 4,000 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
$117.6K $29.40/SF
− Vacancy
−$6.1K −$1.53/SF
EGI
$111.5K $27.87/SF
− OpEx
−$50.2K −$12.54/SF
NOI
$61.3K $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 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%
$1,226,340
Cap Rate 7%
$875,957
Cap Rate 9%
$681,300
Alternative Uses
Best Use
Apartment 5plus
$876.0K
$766.5K – $1.02M
NOI $61,317 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,019 @ 7.0% cap · market cap 17.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,154
Businesses Nearby
Explore this area
Business Placement
Demographics for 60644, IL
47,239
Population
20,619
Households
2.3
Avg Household Size
36
Median Age
11%
College-Educated
85%
High-School Grad
3.5 sq mi
ZIP Area
13,497
Density / Sq Mi
$37,952
Median Household Income
$31,304
Median Earnings
$1,096
Median Rent
$238,300
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?
Apartment building - Six-unit building with modern renovations and income potential.
Where is this apartment building located?
The property is located at 4900 West Hubbard Street Chicago, IL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: High Income Potential: Ideal for investors or savvy first‑time homebuyers; Six Units: Features four above‑grade two‑bedroom units and two in‑law garden units; In‑Unit Washer and Dryer: Each unit is equipped with its own washer and dryer
