Contacts
Keller Williams ONEChicago
Keller Williams ONEChicago
Property Details
- Property Type Multi-Family
- Units 0
- Additional Rent Contact for pricing
- Date Updated Dec 17, 2024
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 $111 per square foot. The purchase price is $720,000.
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 $72,388 provides a strong cap rate of 10.05% and a gross rent multiplier (GRM) of 7.55. With projected rent escalations, the NOI is expected to rise to $81,458, enhancing the cap rate to 11.31% and lowering the GRM to 6.82, 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.
Reach out to the broker for more info on lease terms and amenities
Getting around
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66/100
Walk Score ®
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62/100
Transit Score ®
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63/100
Bike Score ®
Location
- City Chicago, IL
- Neighborhood Roseland
- Zip Code 60628
- Market Chicago
Points of Interest
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Kensington (115th Street)
0.38 miles
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West Pullman
1.95 miles
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95th/Dan Ryan
2.17 miles
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111th Street (Morgan Park)
3.00 miles
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107th Street (Beverly Hills)
3.00 miles
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115th Street (Morgan Park)
3.07 miles
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103rd Street (Beverly Hills)
3.08 miles
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99th Street (Beverly Hills)
3.22 miles
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Riverdale
3.23 miles
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Gresham
3.53 miles
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Pullman Citgo
0.36 miles
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Super Save
0.57 miles
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Citgo
0.57 miles
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Shell
0.58 miles
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Tesla Supercharger
0.61 miles
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Mobil
1.37 miles
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ChargePoint
6.46 miles
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EVgo
8.97 miles
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Kensington / 115th Street Station Parking Lot
0.35 miles
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Auto Warehousing Company
2.77 miles
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93rd St. (South Chicago) Station Parking Lot
4.14 miles
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Hegewisch NICTD #1
4.65 miles
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83rd Street Metra Park & Ride
4.84 miles
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Hegewisch Accessible Parking
4.85 miles
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Hegewisch Park & Ride
4.86 miles
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Blue Island Park & Ride
4.86 miles
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Car Parking
5.00 miles
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Royal Motel
1.24 miles
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Admiral Motel
2.60 miles
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Stony Island Motel
2.86 miles
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Skyway Motel
2.90 miles
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Beverly Motel & Suites
2.93 miles
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Plaza Inn
3.28 miles
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Days Inn Calumet Park
3.29 miles
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Knights Inn Calumet Park
3.31 miles
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New Budget Motel
3.78 miles
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South Shore Motel
4.11 miles
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Farmfoods
0.47 miles
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Walmart Supercenter
0.77 miles
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Ross
0.86 miles
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Save-A-Lot
1.65 miles
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ALDI
1.68 miles
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Jewel-Osco
2.51 miles
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dd's Discounts
2.54 miles
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Burlington
2.76 miles
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South Deering Food Mart
2.82 miles
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Food 4 Less
3.28 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
