Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4901 St Louis Ave Chicago, IL 60625

    • Apartment buildings
    • 35,759 SF
    • 0.36 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / Gift Shop / Boutique
    • Party City / Party Store / Balloon Store
    • Skunk Funk / Wholesaler / Clothing Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop

    Property Details for 4901 St Louis Ave

    Year built
    1929
    Lot size
    0.36 lot acres
    Property size
    35,759 SF
    Property type
    Apartment buildings

    Description

    This exceptional multifamily investment opportunity presents a 52-unit apartment building located at 4901 N St Louis Ave, Chicago, IL 60625. The property, encompassing 35,759 square feet on a 0.36-acre lot, consists of two, three-story buildings constructed in 1929. Currently boasting a 4.68% cap rate and $93,674 NOI, significant upside potential exists due to below-market rents in several units. A pro-forma analysis projects an 8.26% cap rate and $165,237 NOI, reflecting substantial rent growth opportunities. The building features a mix of one and two-bedroom units, with six one-bedroom and six two-bedroom units currently renting at approximately 50% or more below market rates. Recent improvements include updated electrical service and panels, and recently completed tuckpointing. On-site laundry is available for residents. The building's heating system utilizes baseboard and boiler technology. The roof's age is currently unknown. This is a rare chance to acquire a well-located, value-add multifamily property in Chicago's Albany Park neighborhood with immediate potential for increased profitability. The asking price is $2,000,000. The seller owns the building free and clear.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7155
    Latitude
    41.9704

    Comparable in this City

    • Value Estimation
      $190,000

      Chicago, IL 60625

      APARTMENT HOUSE (5+ UNITS)
      Chicago, IL 60625
      View Details
    • Value Estimation
      $1,630,000
      0.12 Acres

      2558 Catalpa Ave

      APARTMENT HOUSE (5+ UNITS) • 0.12 Acres
      2558 Catalpa Ave, Chicago, IL 60625
      View Details
    • Value Estimation by Request
      6,148 SF

      5233-5239 Damen Ave

      Individual retail properties • 6,148 SF
      5233-5239 Damen Ave, Chicago, IL 60625
      View Details
    • Value Estimation
      $360,000
      0.14 Acres

      5028 Western Ave, Unit 32

      APARTMENT HOUSE (5+ UNITS) • 0.14 Acres
      5028 Western Ave, Chicago, IL 60625-8014
      View Details
    • Value Estimation
      $290,000
      0.10 Acres

      2056 Summerdale Ave

      APARTMENT HOUSE (5+ UNITS) • 0.10 Acres
      2056 Summerdale Ave, Chicago, IL 60625
      View Details
    • Value Estimation by Request
      35,759 SF

      4901 St Louis Ave

      Multifamily properties • 35,759 SF
      4901 St Louis Ave, Chicago, IL 60625
      View Details

    Similar Nearby for Sale

    • $1,395,000

      Corner Apartment Building with Upgrades

      Six upgraded units, updated roof/windows, potential for seventh unit.
      4458 N Spaulding Ave, Chicago, IL 60625
      View Details
    • $645,000

      Well-Maintained Albany Park 2-Flat

      Desirable Chicago 2-flat with finished basement near transit.
      4514 N Springfield Ave, Chicago, IL 60625
      View Details
    • $859,900

      Renovated Albany Park 3-Flat

      Move-in ready 3-flat in vibrant Albany Park neighborhood.
      4624 N Springfield Ave, Chicago, IL 60625
      View Details
    • New
      $610,000

      Chicago Multi-Unit with Updates

      Updated Chicago multi-unit near transportation and parks with cash flow.
      4614 N Springfield Ave, Chicago, IL 60625
      View Details
    • $695,000

      Well-Maintained Albany Park Multi-Unit Building

      Three-unit building in Albany Park with a finished basement.
      4714 N Spaulding Ave, Chicago, IL 60625
      View Details
    • $799,888
      0.07 Acres

      Lincoln Square Commercial Opportunity

      2700+ sq ft commercial space with two apartments above.
      2215 W Lawrence Ave, Chicago, IL 60625
      View Details

    Similar Nearby for Lease

    • $1,595 /Mo

      Apartment Near Transportation and Amenities

      Apartment near transportation, bike trails, parks, restaurants, and shopping.
      3137 W Lawrence Ave, Chicago, IL 60625
      View Details
    • $1,300 /Mo

      Lincoln Square Top Floor Condo

      Spacious 1 bed, 1 bath condo in Lincoln Square.
      2411 W Balmoral Ave, Chicago, IL 60625
      View Details
    • $1,200 /Mo
      650 SF

      Albany Park Cozy 1 Bedroom

      Cozy 1 bedroom apartment in Albany Park courtyard building.
      4425 N Lawndale Ave, Chicago, IL 60625
      View Details
    • $1,925 /Mo

      Modern Condo Near Lincoln Square

      Bright condo with updated kitchen, near shops and transportation.
      2412 W Farragut Ave, Chicago, IL 60625
      View Details
    • $1,195 /Mo

      Updated Studio Near Lincoln Square

      Updated studio with modern amenities near transportation and Lincoln Square.
      4764 N Virginia Ave, Chicago, IL 60625
      View Details
    • $1,825 /Mo

      Rehabilitated Condo with Modern Amenities

      Rehabilitated condo featuring modern kitchen, in-unit laundry, and deck.
      4904 N Springfield Ave, Chicago, IL 60625
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4901 St Louis Ave
    Chicago, IL 60625
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.