Three-Unit
For Sale
$525,000
5357 W Waveland Avenue, Chicago, IL 60641
All three apartments are tenant-occupied at closing, with a detached garage and fenced backyard.
Property Size3,125 SF
Lot Size0.09 Acres
Price / SF$168
Days on Market10
Property Features for 5357 W Waveland Avenue
General Information
Standard status
Active
Size
3,125 SF
Total Parking Spaces
2
Lot size
0.09 Acres
Property subtype
Two to Four Units
Zoning
MULTI
Occupancy
100%
Site & Location
Neighborhood
Portage Park
Public Transit
Yes
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,044
Amenities
fenced backyard
Finished,Exterior Entry,Partial Exposure,Full
Den,Utility Room-Lower Level
3
6
Corner Lot
Lake Michigan
2
31x126
No
CO Detectors,Ceiling Fan(s)
Yes,Garage Owned,Detached,Garage
Building Details
Year Built
1922
Buildings
1
Listing Agency:
Keller Williams ONEChicago
(708) 787-2808
Listed By:
Gianni Davila
Source:
Kawashgroup
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 12:13PM
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 Keller Williams ONEChicago
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Investment Insights
Based on property information with market context.
Built in 1922, this legal triplex contains 3,125 square feet and three two-bedroom apartments. All units are tenant-occupied at closing. The property includes a detached two-car garage and a fenced backyard on a 31-by-126-foot corner lot. It is being conveyed as-is.
The property is in Portage Park, near the Montrose Blue Line, the #152 bus, Metra’s Mayfair stop, shops around Six Corners, and Chopin Park. Showings require at least 48 hours’ notice.
The property is in Portage Park, near the Montrose Blue Line, the #152 bus, Metra’s Mayfair stop, shops around Six Corners, and Chopin Park. Showings require at least 48 hours’ notice.
Key Highlights
- Legal triplex with three two‑bedroom apartments
- 3,125 square feet; built in 1922
- All three units tenant‑occupied at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,904
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$958,080
$958.1K
Cap Rate 7%
$684,343
$684.3K
Cap Rate 9%
$532,267
$532.3K
Market Conditions
NOI Build-Up for 3,125 SF
Gross rent
$91.9K $29.40/SF
− Vacancy
−$4.8K −$1.53/SF
EGI
$87.1K $27.87/SF
− OpEx
−$39.2K −$12.54/SF
NOI
$47.9K $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%
$958,080
Cap Rate 7%
$684,343
Cap Rate 9%
$532,267
Alternative Uses
Best Use
Multifamily LT 5
$744.2K
$651.2K – $868.2K
NOI $52,093 @ 7.0% cap · market cap 9.92%
Second Best
Apartment 5plus
$684.3K
$598.8K – $798.4K
NOI $47,904 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,140 @ 7.0% cap · market cap 19.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
Explore this area
Business Placement
Demographics for 60641, IL
69,354
Population
27,377
Households
2.5
Avg Household Size
37
Median Age
36%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
17,339
Density / Sq Mi
$81,649
Median Household Income
$46,376
Median Earnings
$1,249
Median Rent
$373,200
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
Frequently Asked Questions
What type of property is this?
Triplex - All three apartments are tenant-occupied at closing, with a detached garage and fenced backyard.
Where is this triplex located?
The property is located at 5357 W Waveland Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Legal triplex with three two‑bedroom apartments; 3,125 square feet; built in 1922; All three units tenant‑occupied at closing
