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7129 N Oakley Ave 9 Unit Apartment Building $1,599,000 ($177,667/Unit) 3.90% Cap Rate Chicago, IL 60645
Investment Highlights
- Solid brick exterior
- Great neighborhood
- Near the train and the lake
Executive Summary
First time on the market since 1948, this family owned and well maintained 9-flat sits on an oversized lot with 4 garage spaces. The property consists of six spacious one-bedroom units- designed with layouts that live like two bedrooms- along with three additional two-bedroom units. Recent improvements include a newer boiler, roof inspection, tuckpointing and lintel repairs, ensuring strong structural integrity and low maintenance needs. Less than 2 miles from the train and Lake Michigan. Rents are below market offering immediate value-add potential and room for income growth.
Financial Summary (Actual - 2024) 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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $1,599,000 | Property Subtype | Apartment |
| Price Per Unit | $177,667 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 3.90% | Lot Size | 0.17 AC |
| Gross Rent Multiplier | 15.9 | Building Size | 13,000 SF |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1933 |
| Zoning | RT-4 | ||
| Price | $1,599,000 |
| Price Per Unit | $177,667 |
| Sale Type | Investment |
| Cap Rate | 3.90% |
| Gross Rent Multiplier | 15.9 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 13,000 SF |
| No. Stories | 3 |
| Year Built | 1933 |
| Zoning | RT-4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,175 | - |
| 2+1 | 3 | $1,263 | - |
1 1
Walk Score®
Very Walkable (88)
Property Taxes
| Parcel Number | 11-31-101-001-0000 | Total Assessment | $69,191 (2025) |
| Land Assessment | $17,460 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $51,731 (2025) | Tax Year | 2024 Payable 2024 |
Property Taxes
Parcel Number
11-31-101-001-0000
Land Assessment
$17,460 (2025)
Improvements Assessment
$51,731 (2025)
Total Assessment
$69,191 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2024
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7129 N Oakley Ave
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