New Construction 9-Unit
5637-43 S Prairie Avenue Chicago, IL 60637
5637-43 S Prairie Avenue, Chicago, IL, 60637
$3,025,000
For Sale
$3,025,000
Newly built 9-unit multifamily with 3 bed/2 bath units, in-unit laundry, and sound-reducing insulation.
Property Size13,500 SF
Price / SF$224.07
Days on Market136
Property Features for 5637-43 S Prairie Avenue
General Information
- Standard status
- Active
- Size
- 13,500 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 2026
Listing Agency
Fulton Grace Realty
(773) 698-6648
Listed by
Lawrence Dunning · License #475164126
Source
Xome
Added: Mar 7 Updated: Jul 20 at 5:08 pm Checked: Jul 20 at 5:08 pm
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 Realty
Investment Insights
Based on property information with market context.
New construction 9-unit multifamily property offering condo-quality, simplex-style residences. Each unit is a 3-bedroom, 2-bath layout with an approximately 1,500 sq ft open floorplan. Kitchens include high-end stainless steel appliances and quartz counters, and each unit features in-unit laundry. The building also incorporates extra insulation for noise reduction between floors and from the outside, and each building sits on an oversized lot.
The property is within walking distance to the CTA Green Line station and is about two blocks from Washington Park.
The projected rent roll is $8,400. The listing is offered for sale.
The property is within walking distance to the CTA Green Line station and is about two blocks from Washington Park.
The projected rent roll is $8,400. The listing is offered for sale.
Key Highlights
- New construction 9‑unit multifamily building (Year built: 2026).
- Units are luxury 3 bed, 2 bath condo‑quality simplex layouts.
- Each unit features a 1,500 SF open floorplan, quartz counters, and high‑end stainless steel appliances.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $396.9k | $29.40 |
| − Vacancy | −$20.6k | −$1.53 |
| EGI | $376.3k | $27.87 |
| − OpEx | −$169.3k | −$12.54 |
| NOI | $206.9k | $15.33 |
13,500 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.96M
$2.59M – $3.45M
NOI $206,944 @ 7.0% cap · market cap 6.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.37M
$5.57M – $7.43M
NOI $445,565 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
1031 exchange properties
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Newly built 9-unit multifamily with 3 bed/2 bath units, in-unit laundry, and sound-reducing insulation.
Where is this apartment building located?
The property is located at 5637-43 S Prairie Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $3,025,000.
What are key features of this property?
This property features: New construction 9‑unit multifamily building (Year built: 2026).; Units are luxury 3 bed, 2 bath condo‑quality simplex layouts.; Each unit features a 1,500 SF open floorplan, quartz counters, and high‑end stainless steel appliances.
