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5022-5030 N Winthrop Ave 32 Unit Apartment Building $9,472,000 ($296,000/Unit) 6.56% Cap Rate Chicago, IL 60640
Investment Highlights
- Exceptionally Attractive 32-Unit Courtyard Apartment Building Located in the Heart of Uptown
- Prime Transit-Oriented Location Just Steps from the Newly Reconstructed CTA Red and Purple Line Stations
- Directly Adjacent to the Transformative “Under the L” Project, a New Public Green Space and Pedestrian-Friendly Community Amenity
- Highly Desirable Unit Mix Comprised Exclusively of Spacious Two-Bedroom Apartment Homes
- Extensively Renovated Property Featuring Modernized Kitchens and Bathrooms, In-Unit Laundry, and Individual HVAC Systems
- Strong In-Place Cash Flow with Additional Long-Term Upside Potential
Executive Summary
Essex Realty Group, LLC is pleased to exclusively present for sale 5022–5030 N. Winthrop Avenue, an exceptionally attractive 32-unit courtyard apartment building ideally located in the heart of Chicago’s vibrant Uptown neighborhood. Positioned just steps from the newly reconstructed CTA Red and Purple Line stations, the property offers residents unparalleled access to public transportation, neighborhood amenities, and some of Chicago’s most sought-after destinations.
The property consists entirely of spacious two-bedroom apartment homes with expansive floor plans and highly desirable layouts, including separate dining rooms or eat-in kitchens. The apartments have been thoughtfully modernized with attractive kitchens, select units featuring GE stainless-steel appliances and granite and quartz countertops, updated bathrooms, in-unit laundry equipment, individual HVAC systems, and abundant closet and storage space.
Further enhancing the property's appeal, the transformative “Under the L” project located directly behind the building is creating a vibrant public green space featuring landscaped gathering areas, pedestrian pathways, and enhanced streetscape improvements. This significant public investment is expected to further elevate the neighborhood’s connectivity and overall resident experience.
Residents enjoy immediate access to Uptown’s renowned entertainment, cultural, and lifestyle amenities and are within walking distance of Chicago’s lakefront beaches and trails, Andersonville, and the Bryn Mawr Historic District, offering exceptional urban convenience, transit accessibility, and outdoor recreation.
The property consists entirely of spacious two-bedroom apartment homes with expansive floor plans and highly desirable layouts, including separate dining rooms or eat-in kitchens. The apartments have been thoughtfully modernized with attractive kitchens, select units featuring GE stainless-steel appliances and granite and quartz countertops, updated bathrooms, in-unit laundry equipment, individual HVAC systems, and abundant closet and storage space.
Further enhancing the property's appeal, the transformative “Under the L” project located directly behind the building is creating a vibrant public green space featuring landscaped gathering areas, pedestrian pathways, and enhanced streetscape improvements. This significant public investment is expected to further elevate the neighborhood’s connectivity and overall resident experience.
Residents enjoy immediate access to Uptown’s renowned entertainment, cultural, and lifestyle amenities and are within walking distance of Chicago’s lakefront beaches and trails, Andersonville, and the Bryn Mawr Historic District, offering exceptional urban convenience, transit accessibility, and outdoor recreation.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $9,472,000 | Apartment Style | Low-Rise |
| Price Per Unit | $296,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 6.56% | Building Size | 28,000 SF |
| Gross Rent Multiplier | 10.05 | Average Occupancy | 100% |
| No. Units | 32 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1916/2018 |
| Property Subtype | Apartment | ||
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit | ||
| Price | $9,472,000 |
| Price Per Unit | $296,000 |
| Sale Type | Investment |
| Cap Rate | 6.56% |
| Gross Rent Multiplier | 10.05 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 28,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1916/2018 |
| Zoning | RT-4 - Residential Two-Flat, Townhouse and Multi-Unit |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 32 | - | 981 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 14-08-404-023-0000 | Improvements Assessment | $236,972 |
| Land Assessment | $167,528 | Total Assessment | $404,500 |
Property Taxes
Parcel Number
14-08-404-023-0000
Land Assessment
$167,528
Improvements Assessment
$236,972
Total Assessment
$404,500
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