Four-Unit Multifamily
New
For Sale
$825,000
5230 S Lockwood Avenue, Chicago, IL 60638
Two buildings offer varied apartment layouts, including in-unit laundry in each described residence.
Property Size4,800 SF
Price / SF$171.88
Days on Market3
Property Features for 5230 S Lockwood Avenue
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Two to Four Units
Zoning
MULTI
Site & Location
Neighborhood
Garfield Ridge
Units
Unit Mix
1 x 5BR/2BA, 3 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,645
Amenities
in-unit laundry
quartz countertops
stainless steel appliances
island kitchen
Finished,Full
5
11
3
Irregular Lot
Lake Michigan
34X128X58X125
No
Balcony
Building Details
Buildings
2
Listing Agency:
(847) 984-0046
Listed By:
Uzma Shah
Source:
Remaxsawa
Added: Oct 30
Last Checked: Oct 30 at 12:14AM
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 Uzma Shah
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Investment Insights
Based on property information with market context.
This multifamily property consists of two buildings on an oversized lot measuring 34x125x58x128. The front building contains a 5-bedroom, 2-bath duplex with an island kitchen, along with a separate 2-bedroom, 1-bath apartment. Both front-building residences have in-unit laundry. The rear building contains two 2-bedroom, 1-bath apartments, each described as fully gut-rehabbed and fitted with quartz countertops, stainless steel appliances, and an in-unit washer and dryer.
The property is at 5230 S Lockwood Avenue in Chicago, Illinois. The listing identifies three legal units and an additional fourth unit.
The property is at 5230 S Lockwood Avenue in Chicago, Illinois. The listing identifies three legal units and an additional fourth unit.
Key Highlights
- Two buildings on an oversized 34x125x58x128 lot
- Front building includes a 5‑bedroom, 2‑bath duplex and a 2‑bedroom, 1‑bath apartment
- Two rear 2‑bedroom, 1‑bath apartments described as fully gut‑rehabbed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,580
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,471,600
$1.5M
Cap Rate 7%
$1,051,143
$1.1M
Cap Rate 9%
$817,556
$817.6K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$141.1K $29.40/SF
− Vacancy
−$7.3K −$1.53/SF
EGI
$133.8K $27.87/SF
− OpEx
−$60.2K −$12.54/SF
NOI
$73.6K $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%
$1,471,600
Cap Rate 7%
$1,051,143
Cap Rate 9%
$817,556
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$919.8K – $1.23M
NOI $73,580 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,423 @ 7.0% cap · market cap 19.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
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Business Placement
Demographics for 60638, IL
56,928
Population
21,636
Households
2.6
Avg Household Size
39
Median Age
24%
College-Educated
84%
High-School Grad
11.1 sq mi
ZIP Area
5,129
Density / Sq Mi
$89,191
Median Household Income
$50,902
Median Earnings
$1,327
Median Rent
$283,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two buildings offer varied apartment layouts, including in-unit laundry in each described residence.
Where is this multifamily property located?
The property is located at 5230 S Lockwood Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Two buildings on an oversized 34x125x58x128 lot; Front building includes a 5‑bedroom, 2‑bath duplex and a 2‑bedroom, 1‑bath apartment; Two rear 2‑bedroom, 1‑bath apartments described as fully gut‑rehabbed
