Four-Unit Residential Income
For Sale
$950,000
Pending
6128 North Francisco Avenue, Chicago, IL 60659
Three-flat building plus garden unit with hardwood floors, coin laundry, detached 3-car garage, and a fenced backyard.
Property Size4,944 SF
Days on Market51
Property Features for 6128 North Francisco Avenue
General Information
Standard status
Pending
Size
4,944 SF
Total Parking Spaces
3
Property subtype
Two to Four Units / 3 Flat
Net Operating Income
$79,846
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,561
Building Details
Year Built
1952
Listing Agency:
Baird & Warner
(773) 491-5631
Listed By:
Barbara O'Connor · License #471016838
(773) 491-5631
Source:
Compass
Added: Jul 13
Changed: Aug 8
Last Checked: Jul 25 at 11:08AM
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 Baird & Warner
Investment Insights
Based on property information with market context.
This four-unit residential income property includes a three-flat building plus an additional garden unit. Units are described as having spacious layouts with large living areas, hardwood floors, and plenty of windows for natural light. Each unit features a formal living and dining arrangement, with three large bedrooms and two bathrooms per unit. Unit 1 was rehabbed a few years ago with new kitchen, baths, and in-unit washer/dryer, and the second-floor unit’s kitchen was remodeled. The garden unit (2 bed/2 bath) was redone about three years ago. Coin-operated laundry is provided in the basement. The property also includes a detached 3-car garage and a spacious, fenced-in backyard. A tear-off roof is approximately three years old.
The building is located near public transportation, with easy access to restaurants, parks, and schools. It is approximately ten minutes to Edens Expressway and approximately ten minutes to Lake Shore Drive.
Please note the broker does not represent the legality of the garden unit.
The building is located near public transportation, with easy access to restaurants, parks, and schools. It is approximately ten minutes to Edens Expressway and approximately ten minutes to Lake Shore Drive.
Please note the broker does not represent the legality of the garden unit.
Key Highlights
- 1952‑built three‑flat building plus garden unit, each with spacious living areas, hardwood floors, and large windows
- Garden unit has 2 bedrooms and 2 bathrooms, redone about 3 years ago
- Unit 1 rehabbed a few years ago with new kitchen, baths, and in‑unit washer/dryer
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
$82,415
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
8.68%
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%
$1,648,300
$1.6M
Cap Rate 7%
$1,177,357
$1.2M
Cap Rate 9%
$915,722
$915.7K
Market Conditions
NOI Build-Up for 4,944 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
$124.6K $25.20/SF
− Vacancy
−$6.9K −$1.39/SF
EGI
$117.7K $23.81/SF
− OpEx
−$35.3K −$7.14/SF
NOI
$82.4K $16.67/SF
Area
Chicago, IL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,648,300
Cap Rate 7%
$1,177,357
Cap Rate 9%
$915,722
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.03M – $1.37M
NOI $82,415 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$1.08M
$947.3K – $1.26M
NOI $75,787 @ 7.0% cap · market cap 7.98%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,176 @ 7.0% cap · market cap 17.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,336
Businesses Nearby
Explore this area
Business Placement
Demographics for 60659, IL
40,579
Population
14,748
Households
2.8
Avg Household Size
36
Median Age
40%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
16,908
Density / Sq Mi
$70,033
Median Household Income
$40,493
Median Earnings
$1,391
Median Rent
$358,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Three-flat building plus garden unit with hardwood floors, coin laundry, detached 3-car garage, and a fenced backyard.
Where is this quadplex located?
The property is located at 6128 North Francisco Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1952‑built three‑flat building plus garden unit, each with spacious living areas, hardwood floors, and large windows; Garden unit has 2 bedrooms and 2 bathrooms, redone about 3 years ago; Unit 1 rehabbed a few years ago with new kitchen, baths, and in‑unit washer/dryer
