Multifamily Property for Sale in Chicago, IL

  • Price: $450K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Chicago, IL 60629
  • Size: 4,028 SF

Description

6933 S Washtenaw Ave | Chicago, IL 60629 Three-Unit Multifamily | Fully Rehabilitated | Turnkey Cash Flow (Chicago Lawn / Lithuanian Plaza / Marquette Park) Building Overview The property encompasses a Gross Building Area (GBA) of 4,503 SF and a Net Rentable Area (NRA) of 4,351 SF , offering a highly efficient layout with minimal common space. This strong ratio of rentable-to-gross square footage underscores the asset’s functionality and maximization of income-producing space, an important factor for investors focused on long-term cash flow stability. Investment Highlights Turnkey 3-unit brick multifamily, fully rehabbed with comprehensive 2023 capital upgrades (envelope, MEPs, and site). Institutional-style systems: forced-air HVAC (hot/cold) in all units. Clean metering: 3 separate gas meters; 4 electric meters (including house). Parking: 3 surface spaces (currently vacant, not leased). Laundry: communal coin-operated washer/dryer (owner-owned). Zoning: RS-3 (buyer to verify). Location: across from McKay Elementary (CPS); one block to Marquette Park Golf Course & Driving Range. Capital Expenses (2023 Unless Noted) HVAC: All furnaces and compressors replaced (2023). Water/Hot Water: All tanks replaced (2023). Boilers: All replaced (2023). Plumbing: Full replacement with copper water lines, cast-iron main, and 2″ PVC range line (2023). Electrical: Full replacement (2023). Roof: New roof installation (2023). Windows: First- and second-floor windows replaced (2023). Façade: Front façade refreshed; side façades recently performed (2023). Site & Landscaping: New hardscape and turf grass installation (2023). Unit Program & Interiors Unit 1 (First Floor): 2 bedrooms with closets, separate living & dining, rehabbed kitchen with stainless appliances & ~7-ft island, HVAC forced hot/cold. Unit 2 (Second Floor): 2 bedrooms with closets, separate living & dining, rehabbed kitchen with stainless appliances & ~7-ft island, HVAC forced hot/cold, large balcony. Lower Level: Dedicat

Market Context

This multifamily in Chicago, IL is listed for sale at $450,000 across 4,028 SF. It has been on the market for 38 days. Compare it against other multifamily listings for sale in Chicago, IL — <a href="/search/sale/multifamily/illinois/chicago">view the full market</a>.

As of Q1 2026, the Chicago multifamily market showed rents up 9.3% year over year, and cap rates around 4.9%. Source: Consensus Q1 2026 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Chicago?
About 4.9% as of Q1 2026, per Consensus.

Contact

Explore this market

Similar Multifamily Property for Sale in Chicago, IL