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5501 West Quincy Street 5501 W Quincy St 9 Unit Apartment Building $649,900 ($72,211/Unit) 12.74% Cap Rate Chicago, IL 60644
Executive Summary
Rarely available 9-unit brick apartment building situated on a prominent corner lot, offering excellent visibility and a compelling value-add investment opportunity. The property features a desirable unit mix of (6) 2-bedroom/1-bath units and (3) 1-bedroom/1-bath units, providing strong income-producing potential with significant upside through rental repositioning and operational improvements. An excellent opportunity for investors seeking to enhance cash flow and maximize long-term returns in a well-positioned multifamily asset. Property is being sold strictly as-is. No survey is available. Buyer will be responsible for assuming all code compliance requirements. All offers must be submitted via PropOffers.com, instructions under Additional Information. There is a 5-business day hold period during which the seller will not respond to offers. All offer packages must include a copy of the contract, proof of funds, and Buyer Agency Agreement. Sold As Is. Seller does not provide survey. Buyer must take subject to all violations/code compliance requirements. Utilities will not be activated.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $649,900 | Building Class | C |
| Price Per Unit | $72,211 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 16,383 SF |
| Cap Rate | 12.74% | Average Occupancy | 95% |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | Parking Ratio | 0.98/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3, Chicago | ||
| Price | $649,900 |
| Price Per Unit | $72,211 |
| Sale Type | Investment |
| Cap Rate | 12.74% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 16,383 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1926 |
| Parking Ratio | 0.98/1,000 SF |
| Zoning | R-3, Chicago |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 700 |
| 2+1 | 6 | - | 800 |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 16-16-109-020-0000 | Improvements Assessment | $58,062 (2025) |
| Land Assessment | $11,038 (2025) | Total Assessment | $69,100 (2025) |
Property Taxes
Parcel Number
16-16-109-020-0000
Land Assessment
$11,038 (2025)
Improvements Assessment
$58,062 (2025)
Total Assessment
$69,100 (2025)
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5501 West Quincy Street | 5501 W Quincy St
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