Six-Unit Renovated Multifamily
For Sale
$1,300,000
724 E 50th Place, Chicago, IL 60615
Updated apartment property with duplex layouts, refreshed building systems, and exterior parking.
Property SizeContact for details
Days on Market60
Property Features for 724 E 50th Place
General Information
Standard status
Active
Total Parking Spaces
5
Property subtype
Commercial
Net Operating Income
$92,029
Site & Location
Neighborhood
Near South Side
Units
Unit Mix
2 x 4BD/3BA duplex, 4 x 3BD/2BA
Multifamily Units
6
Additional Details
Cap Rate
7.08%
Taxes and HOA fees
Annual Taxes
$25,206
Amenities
Central air
Central Individual Cooling
Building Details
Year Built
1893
Year Renovated
2005
Buildings
1
Listing Agency:
@PROPERTIES COMMERCIAL
(312) 337-0200
Listed By:
KEVIN ROCIO · License #IL475.128895
(312) 972-4381
Source:
Corcoran
Added: Sep 8
Changed: Nov 4
Last Checked: Nov 6 at 8:44AM
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 @PROPERTIES COMMERCIAL
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Investment Insights
Based on property information with market context.
Located at 724 E 50th Place in Chicago, this six-unit multifamily building dates to 1893 and includes two 4BD/3BA duplex apartments alongside four 3BD/2BA units. Five exterior parking spaces serve the property, and a comprehensive 2005 renovation addressed the roof, masonry, windows, plumbing, electrical, and HVAC systems.
The asset is minutes from the University of Chicago and UChicago Medicine. One unit is currently vacant. Underwriting reflects a 7.08% Year 1 cap rate, with a pro forma cap rate of 8.92% based on leasing the vacant unit and achieving market rents.
The asset is minutes from the University of Chicago and UChicago Medicine. One unit is currently vacant. Underwriting reflects a 7.08% Year 1 cap rate, with a pro forma cap rate of 8.92% based on leasing the vacant unit and achieving market rents.
Key Highlights
- Six‑unit multifamily building with two 4BD/3BA duplex units and four 3BD/2BA units
- Five exterior parking spaces
- Comprehensive 2005 renovation included roof, masonry, windows, plumbing, electrical, and HVAC
Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,600
Businesses Nearby
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Business Placement
Demographics for 60615, IL
43,502
Population
24,997
Households
1.7
Avg Household Size
35
Median Age
61%
College-Educated
93%
High-School Grad
2.2 sq mi
ZIP Area
19,774
Density / Sq Mi
$62,105
Median Household Income
$47,186
Median Earnings
$1,444
Median Rent
$305,200
Median Home Value
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Market
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Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated apartment property with duplex layouts, refreshed building systems, and exterior parking.
Where is this apartment building located?
The property is located at 724 E 50th Place Chicago, IL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Six‑unit multifamily building with two 4BD/3BA duplex units and four 3BD/2BA units; Five exterior parking spaces; Comprehensive 2005 renovation included roof, masonry, windows, plumbing, electrical, and HVAC
