Updated 2-Flat with Basement
For Sale
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5445 N MAGNET Avenue, Chicago, IL 60630
Updated two-bedroom units plus an extra non-conforming basement apartment, with a nice yard and 2-car garage.
Days on Market46
Property Features for 5445 N MAGNET Avenue
General Information
Standard status
Active
Total Parking Spaces
2
Property subtype
Multifamily
Occupancy
100%
Financials
Cap Rate
7.74%
Business Included
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1921
Tenancy
Multi
Listing Agency:
Compass Chicago
Listed By:
Norb Mika · License #IL
Source:
Crexi
Added: Jun 15
Changed: Jul 10
Last Checked: Jul 30 at 3:13PM
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 Compass Chicago
Investment Insights
Based on property information with market context.
This updated income property offers a 2-flat configuration with an additional basement unit described as non-conforming. The first and second floors each include two bedrooms, with a tandem-style additional bedroom on the first floor. The basement is laid out as a four-room, two-bedroom apartment. The home is described as all electric, with electrical, plumbing, and HVAC systems updated approximately 8 years ago, along with some kitchen and bathroom updates.
Set on the property is a nice yard and a 2-car garage. Income is currently being generated from multiple sources: the non-conforming garden unit rents for $1,250 per month and includes all utilities. The first-floor unit rents for $1,800 per month, pays its own utilities, and receives a $100 credit for basement utility use so it nets $1,700. The second-floor unit rents for $1,595 and pays its own utilities. The garage is rented for $300 per month on a month-to-month basis. Total income is listed as $4,845 per month and $58,140 gross annually.
For buyers seeking a multi-unit residential income setup, this property provides three separate rental streams with updated major systems and usable outdoor space plus enclosed parking. The seller’s figures also note approximately $12,444 in expenses, resulting in a stated net income of $45,696, for a reported 7.74% return.
Set on the property is a nice yard and a 2-car garage. Income is currently being generated from multiple sources: the non-conforming garden unit rents for $1,250 per month and includes all utilities. The first-floor unit rents for $1,800 per month, pays its own utilities, and receives a $100 credit for basement utility use so it nets $1,700. The second-floor unit rents for $1,595 and pays its own utilities. The garage is rented for $300 per month on a month-to-month basis. Total income is listed as $4,845 per month and $58,140 gross annually.
For buyers seeking a multi-unit residential income setup, this property provides three separate rental streams with updated major systems and usable outdoor space plus enclosed parking. The seller’s figures also note approximately $12,444 in expenses, resulting in a stated net income of $45,696, for a reported 7.74% return.
Key Highlights
- Updated 2‑flat (built 1921) with an extra non‑conforming basement apartment
- 2‑bedroom apartments on the first and second floors, plus a tandem bedroom on the first floor
- Basement includes a 4‑room, 2‑bedroom non‑conforming apartment
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,218
Businesses Nearby
Explore this area
Business Placement
Demographics for 60630, IL
54,064
Population
23,393
Households
2.3
Avg Household Size
40
Median Age
44%
College-Educated
91%
High-School Grad
4.7 sq mi
ZIP Area
11,503
Density / Sq Mi
$97,134
Median Household Income
$54,576
Median Earnings
$1,357
Median Rent
$362,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Updated two-bedroom units plus an extra non-conforming basement apartment, with a nice yard and 2-car garage.
Where is this triplex located?
The property is located at 5445 N MAGNET Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $589,900.
What are key features of this property?
This property features: Updated 2‑flat (built 1921) with an extra non‑conforming basement apartment; 2‑bedroom apartments on the first and second floors, plus a tandem bedroom on the first floor; Basement includes a 4‑room, 2‑bedroom non‑conforming apartment
