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2548 S Homan ave 28 Unit Apartment Building Offered at $3,400,000 at a 6.09% Cap Rate Chicago, IL 60623
Investment Highlights
- Sixteen (16) 1Bd/1Ba & Twelve (12) Studio Units
- Modern Kitchen & Baths w/ Individual Furnaces
- Thirty Four (34) Parking Spaces
- Prime Little Village Location
Executive Summary
Kiser Group is pleased to exclusively present for purchase 2548 S. Homan, a 28-unit apartment building located in Chicago’s Little Village neighborhood. The property is situated near 26th Street, one of the neighborhood’s primary commercial corridors, offering convenient access to a variety of restaurants, retail, grocery stores, and local services. Residents also benefit from nearby public transportation and convenient access to I-290, providing connectivity throughout Chicago and the surrounding suburbs.
The property is comprised of twelve (12) studio units and sixteen (16) 1Bd/1Ba units. Each unit is equipped with an individual furnace, while the property also offers on-site parking and on-site laundry facilities for residents.
2548 S. Homan currently generates a 6.09% in-place cap rate and a 2.18% cash return. Through continued rental growth and operational improvements, the property is projected to achieve a 7.29% proforma cap rate and a 7.01% proforma cash return, providing investors with meaningful upside and the potential to enhance overall returns.
The property is comprised of twelve (12) studio units and sixteen (16) 1Bd/1Ba units. Each unit is equipped with an individual furnace, while the property also offers on-site parking and on-site laundry facilities for residents.
2548 S. Homan currently generates a 6.09% in-place cap rate and a 2.18% cash return. Through continued rental growth and operational improvements, the property is projected to achieve a 7.29% proforma cap rate and a 7.01% proforma cash return, providing investors with meaningful upside and the potential to enhance overall returns.
Property Facts
| Price | $3,400,000 | Property Type | Multifamily |
| Price Per Unit | $121,429 | Building Size | 16,778 SF |
| Sale Type | Investment | No. Stories | 3 |
| Cap Rate | 6.09% | Year Built | 1919 |
| No. Units | 28 | ||
| Zoning | RM-5 | ||
| Price | $3,400,000 |
| Price Per Unit | $121,429 |
| Sale Type | Investment |
| Cap Rate | 6.09% |
| No. Units | 28 |
| Property Type | Multifamily |
| Building Size | 16,778 SF |
| No. Stories | 3 |
| Year Built | 1919 |
| Zoning | RM-5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | - | 750 |
| 1+1 | 16 | - | 850 |
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Exceptionally walkable
100/100
Fairly drivable
50/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 16-26-227-041-0000 | Improvements Assessment | $66,403 |
| Land Assessment | $24,299 | Total Assessment | $90,702 |
Property Taxes
Parcel Number
16-26-227-041-0000
Land Assessment
$24,299
Improvements Assessment
$66,403
Total Assessment
$90,702
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