Hyde Park Multifamily Investment
5123 S University Ave, Chicago, IL 60615
Multifamily asset in Hyde Park near University of Chicago.
Type:Multifamily
Property size:
31,050 SFPrice / SF:
$206/SF- Added:
- Feb 23, 2026
- Days on Market:
- 89
- Last Refresh:
- Mar 17 at 1:15 pm
Property Features for 5123 S University Ave
General Information
- Standard status
- Active
- Size
- 31,050 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1964
Listing agent Lee Kiser License #471014529
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
- Prime location in Hyde Park, steps from the University of Chicago and 53rd Street retail.
- Strong rental fundamentals and consistent tenant demand due to proximity to major institutions.
- Value‑add potential through interior renovations and modernization.
- Spacious unit layouts with classic vintage elements.
- Opportunity to increase rents through unit upgrades and improved amenities.
- Located in a stable and demand‑driven submarket with limited housing supply.
Overview
Located at 5123 S. University Ave in Chicago, IL, this multifamily property presents an investment opportunity in the heart of Hyde Park. The property has been under the same family ownership since 1964. Situated near the University of Chicago and the 53rd Street retail corridor, the building benefits from consistent tenant demand. The building features spacious unit layouts with vintage elements, offering value-add potential through interior renovations and modernization of finishes. With the ability to enhance rents through unit upgrades and improved amenities, investors can capitalize on Hyde Park’s limited housing supply and proximity to academic and medical institutions. The property size is 31,050 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$5.29M
NOI $475,970 @ 9.00% cap · cautious / downside scenario
Moderate
$6.80M
NOI $475,970 @ 7.00% cap · market / base-case scenario
Aggressive
$9.52M
NOI $475,970 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $912.9k | $29.40 |
| − Vacancy | −$47.5k | −$1.53 |
| EGI | $865.4k | $27.87 |
| − OpEx | −$389.4k | −$12.54 |
| NOI | $476.0k | $15.33 |
31,050 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$6.80M
$5.95M – $7.93M
NOI $475,970 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.64M
$12.81M – $17.08M
NOI $1,024,799 @ 7.0% cap · market cap 16.01%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.5975201
- Latitude
- 41.8015521
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Multifamily asset in Hyde Park near University of Chicago.
Where is this apartment building located?
The property is located at 5123 S University Ave Chicago, IL.
What is the asking price?
The asking price for this property is $6,400,000.
What are key features of this property?
This property features: Prime location in Hyde Park, steps from the University of Chicago and 53rd Street retail.; Strong rental fundamentals and consistent tenant demand due to proximity to major institutions.; Value‑add potential through interior renovations and modernization.
