5643 S Prairie Avenue Chicago, IL 60637
New construction three-unit building near Washington Park, fully rented.
- Added:
- May 16, 2026
- Days on Market:
- 58
- Last Refresh:
- Jun 29 at 12:53 am
Property Features for 5643 S Prairie Avenue
General Information
- Standard status
- Active
- Size
- 4,500 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2026
Listing office Fulton Grace
Listing date May 16, 2026
Source Crexi
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.
Key Highlights
- Brand new 3‑unit construction on an oversized lot.
- Fully rented at $8,400/month, providing immediate income.
- Each unit is a luxury 3‑bedroom, 2‑bathroom condo with 1,500 sq ft open floorplan.
Local Financial Insights For Multifamily LT 5
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 | $113.4k | $25.20 |
| − Vacancy | −$6.2k | −$1.39 |
| EGI | $107.2k | $23.81 |
| − OpEx | −$32.1k | −$7.14 |
| NOI | $75.0k | $16.67 |
