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AIA /// 141 UNITS /// WEST PULLMAN 232 E 121st Plz 141 Unit Apartment Building $5,500,000 ($39,007/Unit) 12.54% Cap Rate Chicago, IL 60628

Apartment Buildings Illinois Chicago 232 E 121st Plz, Chicago, IL 60628

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INVESTMENT HIGHLIGHTS

  • LARGE SCALE VALUE-ADD OPPORTUNITY
  • MOSTLY 2-BEDROOM APARTMENTS
  • 153 OFF-STREET PARKING SPACES
  • 10 APARTMENT BUILDINGS, COMPLETELY VACANT
  • TENANT HEATED
  • 3 BLOCKS TO METRA TRAIN

EXECUTIVE SUMMARY

Apartment Investment Advisers, LLC ("AIA") has been granted the exclusive right to market and sell the subject property.
AIA is a Chicago-based commercial real estate brokerage firm focused exclusively on the marketing and sale of multifamily properties throughout the Chicago metropolitan area. The firm has represented it's clients in the sale of more than 500 apartment buildings totaling in excess of 10,000 apartment units and over $1,000,000,000 in sales volume.
For more information, please contact AIA:
info@aia-chicago.com | aia-chicago.com | 773.799.9299

PROPERTY FACTS

Price $5,500,000 Property Subtype Apartment
Price Per Unit $39,007 Apartment Style Garden
Sale Type Investment Building Class C
Cap Rate 12.54% Lot Size 3.14 AC
Sale Conditions
Distress Sale
  • High Vacancy Property
 Building Size 200,000 SF
Gross Rent Multiplier 4.48 No. Stories 3
No. Units 141 Year Built 1967
Property Type Multifamily
Zoning RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District
Price $5,500,000
Price Per Unit $39,007
Sale Type Investment
Cap Rate 12.54%
Sale Conditions
Distress Sale
  • High Vacancy Property
Gross Rent Multiplier 4.48
No. Units 141
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 3.14 AC
Building Size 200,000 SF
No. Stories 3
Year Built 1967
Zoning RT-4 - Residential Two-Flat, Townhouse and Multi-Unit District

AMENITIES

UNIT AMENITIES

  • Air Conditioning
  • Heating
  • Kitchen
  • Refrigerator
  • Range
  • Tub/Shower

SITE AMENITIES

  • 24 Hour Access
  • Laundry Facilities
  • Property Manager on Site
  • Recycling
  • Wi-Fi
  • Maintenance on site
1 1

PROPERTY TAXES

Parcel Numbers
Multiple
  • 25-27-121-053-0000
  • 25-27-121-055-0000
  • 25-27-121-058-0000
  • 25-27-121-052-0000
  • 25-27-121-046-0000
  • 25-27-121-054-0000
  • 25-27-121-057-0000
  • 25-27-121-060-0000
  • 25-27-121-056-0000
  • 25-27-121-059-0000
 Improvements Assessment $597,035
Land Assessment $200,566 Total Assessment $797,601

PROPERTY TAXES

Parcel Numbers
Multiple
  • 25-27-121-053-0000
  • 25-27-121-055-0000
  • 25-27-121-058-0000
  • 25-27-121-052-0000
  • 25-27-121-046-0000
  • 25-27-121-054-0000
  • 25-27-121-057-0000
  • 25-27-121-060-0000
  • 25-27-121-056-0000
  • 25-27-121-059-0000
Land Assessment
$200,566
Improvements Assessment
$597,035
Total Assessment
$797,601
(773) 799-9298

Still interested?

Contact the brokers for more information about this property

CONTACTS

  • Listing ID: 37221388

  • Date on Market: 8/11/2025

  • Last Updated:

  • Address: 232 E 121st Plz, Chicago, IL 60628

More public record information on 232 E 121st Plz, Chicago, IL 60628

The West Pullman Multifamily Property at 232 E 121st Plz, Chicago, IL 60628 is currently available. Contact Apartment Investment Advisers, LLC for more information.

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AIA /// 141 UNITS /// WEST PULLMAN | 232 E 121st Plz
(773) 799-9298 x

AIA /// 141 UNITS /// WEST PULLMAN | 232 E 121st Plz

Jack Cassin
(773) 799-9298

Mike Lindblad
(773) 799-9296

Dan Egan
(773) 453-4295

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