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2744 S Millard Ave 6 Unit Apartment Building $575,000 ($95,833/Unit) Chicago, IL 60623
Investment Highlights
- Comprises 6 residential units with a total of 12 bedrooms and 6 bathrooms.
- Located in a walkable area with good public transit access and nearby amenities.
- Situated on a 4,500-square-foot lot in the South Lawndale neighborhood.
- Positioned in a dense residential community with proximity to schools, parks, and local retail options.
Executive Summary
Exceptionally spacious legal six unit! Oversized lot, Over 6000 sf interior, Generous front units feature three bedrooms, one bath. Comfortable rear units feature one bedroom, updated kitchens and baths. All hardwood floors, All masonry property, Beautiful vintage details, newer windows, great light. Expansive full lengthattic presents opportunity for two additional units. Full unfinished basement. 3/4 car parking in rear uncovered.
Projected stabilized rents of approx. $1,750/month for the larger 3-bedroom units and $1,350/month for the 1-bedroom units, estimated gross scheduled income is approx. $111,600/year. After a 5% vacancy factor and estimated owner-paid expenses including taxes, insurance, water/trash, repairs, and reserves, projected stabilized NOI is approximately $69,000–$74,000, implying an estimated 12.0%–12.9% cap rate at list.
Nearby 26th Street corridor reinvestment, including Xquina Incubator & Café, Savannah Square, and small-business/corridor improvement initiatives, further supports the long-term rental-demand thesis.
Estate sale. Rare opportunity to cash flow immediately. One unit occupied (2R) by long time tenant.
Projected stabilized rents of approx. $1,750/month for the larger 3-bedroom units and $1,350/month for the 1-bedroom units, estimated gross scheduled income is approx. $111,600/year. After a 5% vacancy factor and estimated owner-paid expenses including taxes, insurance, water/trash, repairs, and reserves, projected stabilized NOI is approximately $69,000–$74,000, implying an estimated 12.0%–12.9% cap rate at list.
Nearby 26th Street corridor reinvestment, including Xquina Incubator & Café, Savannah Square, and small-business/corridor improvement initiatives, further supports the long-term rental-demand thesis.
Estate sale. Rare opportunity to cash flow immediately. One unit occupied (2R) by long time tenant.
Property Facts
| Price | $575,000 | Apartment Style | Low-Rise |
| Price Per Unit | $95,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Sale Condition | High Vacancy Property | Building Size | 6,666 SF |
| No. Units | 6 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1906 |
| Property Subtype | Apartment | ||
| Zoning | RT-4 | ||
| Price | $575,000 |
| Price Per Unit | $95,833 |
| Sale Type | Investment |
| Sale Condition | High Vacancy Property |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 6,666 SF |
| No. Stories | 4 |
| Year Built | 1906 |
| Zoning | RT-4 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 3+1 | 3 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $72,125 | |
| Land Assessment | $10,875 | Total Assessment | $83,000 |
Property Taxes
Parcel Numbers
Land Assessment
$10,875
Improvements Assessment
$72,125
Total Assessment
$83,000
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2744 S Millard Ave
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