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    Property profile & analytics

    544 E. Oakwood Blvd Chicago, IL 60653

    • Commercial real estate
    • 16,100 SF
    For Sale
    View listing
    $3,995,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-1412050
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 544 E. Oakwood Blvd

    Property size
    16,100 SF
    Property type
    Commercial real estate

    Description

    This 19-unit apartment building in Chicago's desirable Bronzeville neighborhood presents a compelling investment opportunity. The property boasts 16,100 square feet and comprises sixteen 2-bedroom/1-bathroom units, two 3-bedroom/2-bathroom units, and one 4-bedroom/2-bathroom unit. All units feature spacious layouts, individual HVAC systems, and hardwood flooring. Four additional garden units offer potential for renovation and increased unit count. Recent improvements include newer windows, new porches, updated plumbing, a silver-coated roof, and an on-site laundry facility. The building maintains its original marble common areas, adding to its character. Located minutes from downtown and steps from Lake Michigan, this property benefits from a prime location in a rapidly developing area. The asking price is $3,995,000, with a price per square foot of $248.14. An assumable fixed-rate financing option with a 3.53% interest rate is available. The existing ground lease has 9 years remaining. This stabilized, cash-flowing asset offers significant potential for long-term growth and return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6124302
    Latitude
    41.8229304

    Comparable in this City

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      Spacious Bronzeville Condo with Amenities

      Large 3 bed, 3 bath condo in the heart of Bronzeville.
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    Similar Nearby for Sale

    • $7,100,000
      1 SF

      4400 S. Calumet Ave

      Multifamily properties • 1 SF
      4400 Calumet Ave, Chicago, IL 60653
      View Details
    • $1,199,000
      Pending

      New Construction Multifamily Investment Property

      New construction 3-flat in Chicago's Michigan Collection.
      4629 S Michigan Ave, Chicago, IL 60653
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    • $699,900
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      Residential Income Greystone in Chicago

      Brick building with oversized units in a desirable Chicago location.
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    • $295,000
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      Spacious Bronzeville Condo with Amenities

      Large 3 bed, 3 bath condo in the heart of Bronzeville.
      4543 S Prairie Ave, Chicago, IL 60653
      View Details
    • $3,160,000
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      Bronzeville Boutique Mid-Rise Apartment Building

      Exclusive 10-unit building with gated parking near Green Line.
      4417 S Indiana Ave, Chicago, IL 60653
      View Details
    • New
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      Stabilized Bronzeville Multifamily Investment Property

      Newer construction multifamily property in Bronzeville, Chicago. Fully stabilized.
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      View Details

    Similar Nearby for Lease

    • $1,600 /Mo

      Bronzeville Condo with Parking Included

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      Chicago Industrial Property with Cooler

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      Versatile Space in Prime Location

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    544 E. Oakwood Blvd
    Chicago, IL 60653
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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