1528 E 74th Pl, Chicago IL 60619: 6-Unit Apartment Building | $680,000 ($113,333/Unit) – 8.37% Cap Rate

1528 E 74th Pl, Chicago Illinois, 60619

Listing ID: CL-Illinois-28154 Commercial Garden Low/Rise Multifamily
Published on: Wednesday, August 5, 2026 | Updated on: Wednesday, August 5, 2026

Listing Summary

$680K Chicago Investment Opportunity: 8.37% In-Place Cap Rate with Value-Add Upside

Full Description

Midwest Investment Advisors presents 1528 E. 74th Place, a premier 6-unit multifamily investment opportunity in Chicago's high-demand South Shore submarket. Offered at $680,000 ($113,333/unit | $85/SF), this 7,992 GSF property delivers strong immediate cash flow coupled with significant value-add upside.

Quick Glance

  • Listing ID: CL-Illinois-28154
  • Status: Active
  • Year Build: 1920
  • Building Size: 7,992 SqFt
  • Lot Size: 0 Acr

Additional Links

Property Documents

No documents available.

Complete Details

  • Year Build: 1920
  • Building Size: 7,992 SqFt
  • No of Stories: 4
  • Total Lot Area: 0.24 Acr
  • No of Total Units: 6
  • Heating and Cooling: Not Specified
  • Building Class: Class C
  • Occupancy: 67

Pricing Details

Additional Features

Other Uses
  • Zoning RS-3
Highlights
  • Current Metrics: $56,941 current NOI featuring an 8.37% going-in Cap Rate and an 10.40% Cash-on-Cash return.
  • Stabilized Pro Forma: Projected $69,905 NOI delivering a 9.92% stabilized Cap Rate on total cost and a 14.92% Cash-on-Cash return (assuming 70% LTV financing).
  • Unit Mix: 5 one-bedroom/one-bathroom units and 1 two-bedroom/one-bathroom unit averaging a spacious 950 SF.
  • Renovation Status: 3 units fully updated; remaining 3 unrenovated units require an estimated $25,000 in improvements.
  • Rental Upside: Current monthly income of $8,550 ($1,425/unit avg) projected to increase to $10,200 ($1,700/unit avg) post-stabilization—adding $23,400 in annual base rent.
  • Price Per Unit $113,333

Listing Location

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