Chicago Multifamily Investment
For Sale
$875,000
6237-43 S Spaulding Ave, Chicago, IL 60629
12 unit building in one of Chicago’s most desirable Southwest neighborhoods, Chicago Lawn
Property Size10,800 SF
Lot Size0.25 Acres
Price / SF$81.02
Days on Market582
Property Features for 6237-43 S Spaulding Ave
General Information
Standard status
Active
Property type
Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
Size
10,800 SF
Elevators
N/A
Lot size
0.25 Acres
Building Details
Buildings
1
Stories
2
Units
12
Listing Agency:
(773) 293-5056
Listed By:
John
(773) 293-5056
Added: Jan 17, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This 10,800 square foot multifamily property is located at 6237-43 S. Spaulding Ave in Chicago, IL 60629. Situated in the Chicago Lawn neighborhood, the building offers access to retail amenities and public transportation. The property sits on a 0.25-acre lot and features twelve units, each with two bedrooms and one bathroom. Recent unit updates enhance the property's attractiveness and contribute to its strong rental potential. The current in-place cap rate is 10.58%, with a cash return of 19.59%. With strategic lease improvements and rent adjustments to market rates, the potential exists to significantly increase the cap rate to over 14% and the cash return to nearly 36%. The historically low vacancy rate further underscores the property's strong performance and desirability.
Key Highlights
- 10.58% In‑Place Cap Rate
- Attractive Unit Mix - Twelve (12) 2Bd/1Ba Units
- Recently Renovated, Spacious Units
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 60629, IL
114,453
Population
36,283
Households
3.2
Avg Household Size
33
Median Age
14%
College-Educated
74%
High-School Grad
7.0 sq mi
ZIP Area
16,350
Density / Sq Mi
$58,813
Median Household Income
$34,635
Median Earnings
$1,106
Median Rent
$236,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Multifamily property - 12 unit building in one of Chicago’s most desirable Southwest neighborhoods, Chicago Lawn
Where is this multifamily property located?
The property is located at 6237-43 S Spaulding Ave Chicago, IL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 10.58% In‑Place Cap Rate; Attractive Unit Mix - Twelve (12) 2Bd/1Ba Units; Recently Renovated, Spacious Units
