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11136 S Vernon Avenue

Chicago, IL 60628
  • $660,000
  • STATUS: Active
  • ON SITE: 58 Days
  • MLS #: 12254109
Price Reduced
$660,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1926
County:
Area:

School Ratings & Info

Description

The multifamily property located at 11136 S Vernon Ave, Chicago, IL 60628, presents an exceptional investment opportunity in the thriving South Side market of Chicago. Originally built in 1923 and recently renovated within the past two years, this three-story Class C building spans 6,500 square feet and is competitively priced at $102 per square foot. The purchase price is $660,000. Currently generating a robust monthly gross income of $7,950, with potential increases to $8,800, the property offers clear financial upside. The initial net operating income (NOI) of $69,564 provides a strong cap rate of 10.54% and a gross rent multiplier (GRM) of 6.92. With projected rent escalations, the NOI is expected to rise to $78,541, enhancing the cap rate to 11.90% and lowering the GRM to 6.25, further solidifying the property's profitability. Strategically located in the dynamic Roseland neighborhood, this asset benefits from proximity to key amenities and services, making it highly desirable for renters. The surrounding area boasts a population of 130,488 within a three-mile radius, an average household income of $64,361, and a median home value of $145,440-factors that further strengthen the investment appeal. With recent renovations, competitive pricing, significant rental growth potential, and attractive financing options, this multifamily property is a perfect addition to any real estate portfolio. It offers both stability and the potential for increased returns.

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© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2025-02-06T23:59:54.467 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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11136 S Vernon Avenue Chicago, IL 60628

  • Price: $660,000
  • Status: Active
  • On Site: 58 Days
  • MLS #: 12254109
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1926
Built
Neighborhood:
Cook
County:
Cook
Area:
Cook
Property Description
The multifamily property located at 11136 S Vernon Ave, Chicago, IL 60628, presents an exceptional investment opportunity in the thriving South Side market of Chicago. Originally built in 1923 and recently renovated within the past two years, this three-story Class C building spans 6,500 square feet and is competitively priced at $102 per square foot. The purchase price is $660,000. Currently generating a robust monthly gross income of $7,950, with potential increases to $8,800, the property offers clear financial upside. The initial net operating income (NOI) of $69,564 provides a strong cap rate of 10.54% and a gross rent multiplier (GRM) of 6.92. With projected rent escalations, the NOI is expected to rise to $78,541, enhancing the cap rate to 11.90% and lowering the GRM to 6.25, further solidifying the property's profitability. Strategically located in the dynamic Roseland neighborhood, this asset benefits from proximity to key amenities and services, making it highly desirable for renters. The surrounding area boasts a population of 130,488 within a three-mile radius, an average household income of $64,361, and a median home value of $145,440-factors that further strengthen the investment appeal. With recent renovations, competitive pricing, significant rental growth potential, and attractive financing options, this multifamily property is a perfect addition to any real estate portfolio. It offers both stability and the potential for increased returns.
Exterior Features

Roof Structure Flat

Interior Features

Basement Unfinished Cooling Window Unit(s) Heat Ventilation GasHot WaterRadiators Number Of Dryers 1 Number Of Ranges 6 Number Of Washers 1

Property Features

Additional Parcels YN No Approximate Age Older Building Area Total 6876 Built Before1978 YN Yes Gross Income 0 Gross Scheduled Income 0 Insurance Expense 0 Maintenance Expense 0 Mls Actual Status Active Net Operating Income 0 Operating Expense 0 Tax Annual Amount 3172 Tax Year 2023 Tenant Pays Electricity Total Monthly Income 0 Township Hyde Park Type Multi Family 5+ Zoning MULTI

Listing information © 2025 Midwest Real Estate Data LLC.
Listing provided courtesy of Keller Williams ONEChicago: 312-216-2422.


© 2025 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2025-02-06T23:59:54.467 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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