2-Unit Brick
New
For Sale
$529,900
9409 S Kolmar Ave, Oak Lawn, IL 60453
The two apartments have separate eat-in kitchens, with three bedrooms downstairs and two on the upper level.
Property Size2,233 SF
Price / SF$237.30
Days on Market2
Property Features for 9409 S Kolmar Ave
General Information
Standard status
Active
Size
2,233 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
central air
radiant-heated floors
laundry
fenced yard
Building Details
Year Built
1965
Buildings
1
Construction
brick
Listing Agency:
@Properties Christies International Real Estate
Listed By:
Thomas Bezanes · License #471018395
(312) 622-2850
Source:
Highriseschicago
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:22AM
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 Christies International Real Estate
Investment Insights
Based on property information with market context.
This 2,233-square-foot brick duplex, built in 1965, contains two apartments and is fully leased. The main-floor residence has three bedrooms, a living room, formal dining room, eat-in kitchen, and full bath. Upstairs, the layout includes two bedrooms, a living room, an eat-in kitchen with pantry, and a full bath. A partially finished basement adds a recreation room, built-in storage, radiant heat, and laundry with a washer and dryer. Hardwood flooring remains beneath some carpeting, and central air serves the main-level unit. The property also includes a fenced yard, concrete driveway, and detached two-car garage.
Updates include toilets in both apartments in 2024, a garage roof in 2019, a water heater in 2015, and a roof installed in 2006 with a 30-year guarantee. Most windows and selected appliances have also been updated. The property is near Christ Hospital, Metra, shopping, dining, and I-294.
Updates include toilets in both apartments in 2024, a garage roof in 2019, a water heater in 2015, and a roof installed in 2006 with a 30-year guarantee. Most windows and selected appliances have also been updated. The property is near Christ Hospital, Metra, shopping, dining, and I-294.
Key Highlights
- 2,233 sq. ft. above grade, plus a full, partially finished basement
- Two apartments: three bedrooms on the main floor and two on the second floor
- Detached two‑car garage and concrete driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,975
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,500
$579.5K
Cap Rate 7%
$413,929
$413.9K
Cap Rate 9%
$321,944
$321.9K
Market Conditions
NOI Build-Up for 2,233 SF
Gross rent
$44.7K $20.04/SF
− Vacancy
−$3.4K −$1.50/SF
EGI
$41.4K $18.54/SF
− OpEx
−$12.4K −$5.56/SF
NOI
$29.0K $12.98/SF
Area
Cook County, IL
Vacancy
7.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,500
Cap Rate 7%
$413,929
Cap Rate 9%
$321,944
Alternative Uses
Best Use
Multifamily LT 5
$413.9K
$362.2K – $482.9K
NOI $28,975 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$370.1K
$323.8K – $431.8K
NOI $25,905 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$771.0K
$674.6K – $899.5K
NOI $53,967 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,060
Businesses Nearby
Explore this area
Business Placement
Demographics for 60453, IL
58,362
Population
23,115
Households
2.5
Avg Household Size
40
Median Age
30%
College-Educated
90%
High-School Grad
8.5 sq mi
ZIP Area
6,866
Density / Sq Mi
$82,493
Median Household Income
$48,810
Median Earnings
$1,310
Median Rent
$267,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - The two apartments have separate eat-in kitchens, with three bedrooms downstairs and two on the upper level.
Where is this duplex located?
The property is located at 9409 S Kolmar Ave Oak Lawn, IL.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: 2,233 sq. ft. above grade, plus a full, partially finished basement; Two apartments: three bedrooms on the main floor and two on the second floor; Detached two‑car garage and concrete driveway
