Contacts
Keller Williams ONEChicago
Keller Williams ONEChicago
Keller Williams ONEChicago
Keller Williams ONEChicago
Property Details
- Property Type Multi-Family
- Units 0
- # of Floors 3
- Building Class C
- Date Updated Jan 20, 2025
Presented by the Midwest Investment Advisors Team with KW Commercial and Keller Williams ONEChicago, 3548 W. 13th Pl, Chicago, IL 60623, is a 6-unit multifamily property offering an exceptional investment opportunity in the vibrant North Lawndale neighborhood. Built in 1901, this Class C property delivers immediate cash flow and value-add potential while benefiting from its prime location within both an Opportunity Zone and Enterprise Zone 1, providing substantial tax incentives for investors.
Priced at $500,000, with a price per square foot of $80.00, the property features three 3-bedroom, 1-bathroom units and three 2-bedroom, 1-bathroom units, catering to families and working professionals. This desirable unit mix ensures stable occupancy in a market undergoing revitalization and economic growth.
The property generates a current net operating income (NOI) of $56,469, translating to an impressive 11.29% cap rate and a gross rent multiplier (GRM) of 6.13. With financing at a 75% loan-to-value (LTV), 6.25% interest rate, and 30-year amortization, the property achieves a cash-on-cash return north of 23%. Pro forma financials project an NOI of $60,321, boosting the cap rate to 12.06% and the GRM to 5.79, with a cash-on-cash return exceeding 26%.
This property combines strong in-place financial performance with upside potential through strategic rent optimization, all while leveraging significant tax benefits. Located at 3548 W. 13th Pl, the property benefits from its proximity to transportation, schools, and amenities, ensuring strong tenant demand and long-term growth opportunities.
Reach out to the broker for more info on lease terms and amenities
Getting around
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73/100
Walk Score ®
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65/100
Transit Score ®
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70/100
Bike Score ®
Location
- City Chicago, IL
- Neighborhood North Lawndale
- Zip Code 60623
- Market Chicago
Points of Interest
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Central Park
0.71 miles
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Kedzie
0.85 miles
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Kostner
1.20 miles
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Cicero
1.73 miles
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54th/Cermak
2.32 miles
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Uber Tent
2.54 miles
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Ashland
3.08 miles
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UIC-Halsted (Morgan Street)
3.34 miles
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UIC-Halsted (Peoria Street)
3.45 miles
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Halsted Street
3.49 miles
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GoLo
0.26 miles
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BP
0.32 miles
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Shell
0.53 miles
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Citgo
0.67 miles
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Exxon
0.97 miles
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Power Gas Station
1.02 miles
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Amoco
1.07 miles
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Marathon
1.07 miles
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EVgo
2.43 miles
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Electrify America
3.16 miles
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Visitor Parking
1.75 miles
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Lot W5
1.85 miles
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Visitor Paerking
2.01 miles
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Lot A4
2.05 miles
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Lot A3
2.08 miles
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Lot B2
2.11 miles
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Lot C4
2.12 miles
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Lot B4
2.15 miles
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Shamrock Motel
1.57 miles
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Karavan Motel
1.61 miles
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Hyatt Place Chicago - Medical / University District
2.23 miles
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Hyatt House Chicago - Medical / University District
2.30 miles
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Cindy Lyn Motel
2.40 miles
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Courtyard by Marriott Chicago at Medical District / UIC
2.59 miles
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Hotel Chicago West Loop
2.60 miles
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Hyatt House
3.34 miles
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Alexandra's place
3.50 miles
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Holiday Jones
3.50 miles
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Freshway Market
0.45 miles
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Save-A-Lot
0.93 miles
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Supermercado La Chiquita
1.39 miles
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Cermak Fresh Market
1.45 miles
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Pete's Market
1.52 miles
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Ross
1.55 miles
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Little Village Discount Mall
1.57 miles
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ALDI
1.58 miles
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Burlington
1.65 miles
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Workshop Apothecary
1.67 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.
