Chicago Greystone Multifamily
927 South Claremont Avenue Chicago, IL 60612
927 South Claremont Avenue, Chicago, IL, 60612
$1,300,000
For Sale
$1,300,000
Classic greystone with 6 units plus a garden unit, each with separate gas and electric meters.
Property Size3,276 SF
Price / SF$396.83
Days on Market97
Property Features for 927 South Claremont Avenue
General Information
- Standard status
- Active
- Size
- 3,276 SF
- Property subtype
- Multi Family 5+ / Flats
Building Details
- Year Built
- 1889
Listing agency
Castelli Management LLC
(773) 851-7636
Listed by
John Castelli · License #471001618
(773) 851-7636
Source
Compass
Added: Apr 17 Updated: Jul 22 at 12:20PM Checked: Jul 22 at 12:20PM
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 Castelli Management LLC
Investment Insights
Based on property information with market context.
Classic Chicago greystone multifamily building featuring a 6-unit layout plus an additional garden unit. The unit mix includes two front 3BR units, one front 2BR unit, and three rear 2BR units, with garden level providing additional 3BR living space. A rear lower-level storage area is also included for the building’s use.
All units have separate gas and electric meters, with tenants responsible for utilities. Current rents are reported as below market, and all tenants are on month-to-month leases.
The property is positioned near the Illinois Medical District and is described as conveniently located near major employers including UIC and Rush/Stroger Hospital, with access to public transportation and major expressways.
All units have separate gas and electric meters, with tenants responsible for utilities. Current rents are reported as below market, and all tenants are on month-to-month leases.
The property is positioned near the Illinois Medical District and is described as conveniently located near major employers including UIC and Rush/Stroger Hospital, with access to public transportation and major expressways.
Key Highlights
- Classic Chicago Greystone built in 1889 in Tri‑Taylor
- 6‑unit layout plus an additional garden unit, including two front 3BR units and one front 2BR unit
- Three rear 2BR units plus garden‑level 3BR living space
Local Financial Insights For Apartment 5plus
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 | $96.3k | $29.40 |
| − Vacancy | −$5.0k | −$1.53 |
| EGI | $91.3k | $27.87 |
| − OpEx | −$41.1k | −$12.54 |
| NOI | $50.2k | $15.33 |
3,276 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$717.4K
$627.7K – $837.0K
NOI $50,218 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $108,124 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Classic greystone with 6 units plus a garden unit, each with separate gas and electric meters.
Where is this apartment building located?
The property is located at 927 South Claremont Avenue 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: Classic Chicago Greystone built in 1889 in Tri‑Taylor; 6‑unit layout plus an additional garden unit, including two front 3BR units and one front 2BR unit; Three rear 2BR units plus garden‑level 3BR living space
