Multifamily Residential Income
For Sale
Contact for pricing
544 N Lawndale Avenue, Chicago, IL 60624
For sale multifamily residential income property listed as 3,900 sq. ft.
Property Size3,900 SF
Price / SF$167.95
Days on Market118
Property Features for 544 N Lawndale Avenue
General Information
Standard status
Active
Size
3,900 SF
Class
B
Total Parking Spaces
2
Property subtype
Multifamily
Building Details
Year Built
2026
Units
3
Listing Agency:
Fulton Grace
(773) 799-8042
Listed By:
Lawrence Dunning · License #IL 475164126
Source:
Crexi
Added: Apr 27
Changed: Aug 22
Last Checked: Aug 22 at 9:02AM
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 Fulton Grace
Investment Insights
Based on property information with market context.
This listing is for a multifamily residential income property. The property is offered for sale with a total building size of 3,900 sq. ft., and it is presented in the listing materials simply as “Multifamily.”
The address is 542 N Lawndale Ave, Chicago, IL 60624. Interested parties should review the offering details for any additional unit mix or income information not included in the provided remarks.
The address is 542 N Lawndale Ave, Chicago, IL 60624. Interested parties should review the offering details for any additional unit mix or income information not included in the provided remarks.
Key Highlights
- Multifamily residential income property for sale
- Listed size: 3,900 sq. ft.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,784
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,195,680
$1.2M
Cap Rate 7%
$854,057
$854.1K
Cap Rate 9%
$664,267
$664.3K
Market Conditions
NOI Build-Up for 3,900 SF
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.
Gross rent
$114.7K $29.40/SF
− Vacancy
−$6.0K −$1.53/SF
EGI
$108.7K $27.87/SF
− OpEx
−$48.9K −$12.54/SF
NOI
$59.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,195,680
Cap Rate 7%
$854,057
Cap Rate 9%
$664,267
Alternative Uses
Best Use
Apartment 5plus
$854.1K
$747.3K – $996.4K
NOI $59,784 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,719 @ 7.0% cap · market cap 19.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
Explore this area
Business Placement
Demographics for 60624, IL
37,547
Population
16,250
Households
2.3
Avg Household Size
34
Median Age
13%
College-Educated
77%
High-School Grad
3.5 sq mi
ZIP Area
10,728
Density / Sq Mi
$32,607
Median Household Income
$30,924
Median Earnings
$1,152
Median Rent
$223,200
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?
Multifamily property - For sale multifamily residential income property listed as 3,900 sq. ft.
Where is this multifamily property located?
The property is located at 544 N Lawndale Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: Multifamily residential income property for sale; Listed size: 3,900 sq. ft.
