Six-Unit Multifamily Corner
For Sale
Contact for pricing
4936 Greenwood Street, Skokie, IL 60077
Six-unit multifamily property with a corner location and a unique unit mix totaling 14 bedrooms.
Property Size7,000 SF
Price / SF$228.43
Days on Market78
Property Features for 4936 Greenwood Street
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
6
Property subtype
Multifamily
Zoning
R4
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$108,237
Additional Details
Multifamily Units
6
Building Details
Year Built
1955
Buildings
1
Stories
3
Units
6
Tenancy
Multi
Listing Agency:
Chicago Real Estate Resources Inc
Listed By:
Eric Janssen · License #IL 471011639
(773) 327-9300
Source:
Crexi
Added: Jul 23
Changed: Oct 4
Last Checked: Oct 7 at 12:01PM
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 Chicago Real Estate Resources Inc
Investment Insights
Based on property information with market context.
This six-unit multifamily building features a unique unit mix totaling 14 bedrooms. The property is described as exceptionally well-maintained, with mostly updated units and clean, professionally maintained common areas designed to minimize near-term capital expenditures.
Set as a corner location at 4936 Greenwood Street in Skokie, the building is positioned to benefit from abundant natural light throughout the units. Built in 1955, the property size is listed at 7,000 SF.
The current configuration is presented as a strong basis for operational improvement through strategic rent growth, supported by the noted approach of having rents positioned below market and a clear path to increase income based on current market conditions and comparable in-house leasing data.
Set as a corner location at 4936 Greenwood Street in Skokie, the building is positioned to benefit from abundant natural light throughout the units. Built in 1955, the property size is listed at 7,000 SF.
The current configuration is presented as a strong basis for operational improvement through strategic rent growth, supported by the noted approach of having rents positioned below market and a clear path to increase income based on current market conditions and comparable in-house leasing data.
Key Highlights
- Six‑unit multifamily building
- 14 total bedrooms across the unit mix
- Corner location for abundant natural light throughout the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,206
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,624,120
$1.6M
Cap Rate 7%
$1,160,086
$1.2M
Cap Rate 9%
$902,289
$902.3K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$158.8K $22.68/SF
− Vacancy
−$11.1K −$1.59/SF
EGI
$147.6K $21.09/SF
− OpEx
−$66.4K −$9.49/SF
NOI
$81.2K $11.60/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,624,120
Cap Rate 7%
$1,160,086
Cap Rate 9%
$902,289
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.02M – $1.35M
NOI $81,206 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.42M
$2.11M – $2.82M
NOI $169,175 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,176
Businesses Nearby
Explore this area
Business Placement
Demographics for 60077, IL
28,856
Population
11,317
Households
2.5
Avg Household Size
43
Median Age
46%
College-Educated
92%
High-School Grad
4.2 sq mi
ZIP Area
6,870
Density / Sq Mi
$80,765
Median Household Income
$40,996
Median Earnings
$1,450
Median Rent
$327,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property with a corner location and a unique unit mix totaling 14 bedrooms.
Where is this apartment building located?
The property is located at 4936 Greenwood Street Skokie, IL.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Six‑unit multifamily building; 14 total bedrooms across the unit mix; Corner location for abundant natural light throughout the units
