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    2400 Troy St Chicago, IL 60623

    Sponsored
    For Sale
    $1,300,000

    Seven-unit multifamily, gut renovated, Chicago.

    Property size:
    7,900 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional seven-unit apartment building, located at 2400 S Troy St in Chicago's vibrant Little Village neighborhood (zip code 60623), presents a compelling investment opportunity. Built in 1887 and boasting a total of 7,900 square feet, the property has undergone a complete gut renovation, ensuring modern comfort and efficiency. The building comprises six three-bedroom, two-bathroom units and one one-bedroom, one-bathroom unit, catering to a diverse range of tenants. Significant upgrades include new copper plumbing and updated electrical systems throughout. Each unit benefits from its own individual furnace and water tank, providing residents with independent climate control and minimizing potential maintenance issues. Further enhancing the property's appeal are the convenient onsite laundry facilities and garage parking, valuable amenities highly sought after in the competitive rental market. The asking price for this meticulously renovated multifamily asset is $1,300,000. This property offers a strong potential for consistent rental income and long-term appreciation in a rapidly developing area of Chicago. Its location in Cook County, Illinois, provides easy access to major transportation routes and local amenities.

    Property Features for 2400 Troy St

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,900 SF

    Building Details

    Year Built
    1887
    Units
    7

    HighLights

    • Gut‑renovated 7‑unit multifamily building in Chicago's Little Village neighborhood.
    • Seven units: six 3‑bedroom/2‑bathroom and one 1‑bedroom/1‑bathroom.
    • New copper plumbing and updated electrical systems.
    • Individual furnaces and water heaters in each unit.
    • On‑site laundry and garage parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7042228
    Latitude
    41.8480186

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    FAQs

    What type of property is this?
    Multifamily property - Seven-unit multifamily, gut renovated, Chicago.
    Where is this multifamily property located?
    The property is located at 2400 Troy St 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: Gut-renovated 7-unit multifamily building in Chicago's Little Village neighborhood.; Seven units: six 3-bedroom/2-bathroom and one 1-bedroom/1-bathroom.; New copper plumbing and updated electrical systems.
    Request Owner's contact information
    2400 Troy St Chicago, IL 60623
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    Chicago, IL 60623
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2400 Troy St Chicago, IL 60623
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