Three-Unit Multifamily
For Sale
Contact for pricing
4952 S Michigan Ave, Chicago, IL 60615
Three-story multifamily property with three 3-bedroom, 2-bath units and two off-street parking spaces.
Property Size5,100 SF
Lot Size0.13 Acres
Price / SF$235.29
Days on Market156
Property Features for 4952 S Michigan Ave
General Information
Standard status
Active
Size
5,100 SF
Total Parking Spaces
2
Lot size
0.13 Acres
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
2024
Stories
3
Listing Agency:
Horvath & Tremblay
(312) 533-8899
Listed By:
Danny Breiter · License #475.212060
Source:
Crexi
Added: Feb 27
Changed: Jul 23
Last Checked: Aug 1 at 2:49PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This three-story multifamily investment property is comprised of three separate residential units. The building contains three 3-bedroom/2-bathroom units, totaling 4,800 square feet of gross living area within approximately 5,100 square feet of gross area. The property also includes two off-street parking spaces.
The building is located in Chicago’s historic South Side and offers connectivity to major thoroughfares, including Lake Shore Drive and Interstate 90/94 (Dan Ryan Expressway). Regional access is supported by CTA bus and rail service.
The property sits on a 0.13-acre parcel and is being offered for sale as a residential income asset.
The building is located in Chicago’s historic South Side and offers connectivity to major thoroughfares, including Lake Shore Drive and Interstate 90/94 (Dan Ryan Expressway). Regional access is supported by CTA bus and rail service.
The property sits on a 0.13-acre parcel and is being offered for sale as a residential income asset.
Key Highlights
- 2024‑built three‑story multifamily at 4952 S Michigan Ave, Chicago, IL
- Contains 3 units: each is a 3‑bedroom/2‑bath layout
- 4,800 sq ft gross living area with 5,100 sq ft gross area
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $128.5k | $25.20 |
| − Vacancy | −$7.1k | −$1.39 |
| EGI | $121.5k | $23.81 |
| − OpEx | −$36.4k | −$7.14 |
| NOI | $85.0k | $16.67 |
5,100 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.42M
NOI $85,016 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$1.12M
$977.2K – $1.30M
NOI $78,179 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$2.40M
$2.10M – $2.81M
NOI $168,324 @ 7.0% cap · market cap 14.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,389
Businesses Nearby
Explore this area
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
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-story multifamily property with three 3-bedroom, 2-bath units and two off-street parking spaces.
Where is this triplex located?
The property is located at 4952 S Michigan Ave Chicago, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2024‑built three‑story multifamily at 4952 S Michigan Ave, Chicago, IL; Contains 3 units: each is a 3‑bedroom/2‑bath layout; 4,800 sq ft gross living area with 5,100 sq ft gross area
