31.4 C
Chicago
Wednesday, June 22, 2022

Multi Unit Buildings For Sale Chicago

Chicago Apartment Building Search With Loopnet

Multi Unit Buildings for Sale in Chicago Illinois

To kickstart your search for multi family homes for sale in Illinois with LoopNet, select Multifamily or Residential Income from the drop down list and enter Chicago, IL in the Enter a location search bar.

Once you land on the results page, you will be able to use a number of additional filters to narrow down your search. You can find these options by clicking on the More Filters button.

For example, you can refine your location based on a zip code or intersection. You can then limit your property selection based on a price range, building size, lot size, number of units, property status , cap rate, property listing age, or year built.

LoopNet provides extensive details on their listings, including:

  • Property facts

C N Northwest Hwy Apt 2c Chicago Il 60631

$205,000

Listed By Staci Yesner Compass

Freshly painted 2bed/2bath condo with separate dining room and living room. Unit located in a quiet courtyard building with balcony south facing in order to get great light. Hardwood floors throughout the unit. Lots of closet space and storage. New stainless steel appliances. HVAC is less than a year old. Great for first time home owners or investors. Low assessments and taxes. Parking and additional storage included. Laundry in the basement of the building. Walkable to several buses and the metra. Close to all of the great restaurants in Edison Park! Ebinger school district.

MLS# 11303523

12:04PM – 1/27/2022

Search Multi Family Homes Off Market With Reonomy

Another approach for investors would be to take their search off market, which would allow them to access a much greater supply of multi family homes across the country, avoid broker fees, and interact directly with property owners.

Finding the ideal multi family property off market can help you save a fair bit of money while minimizing the number of people involved in a transaction.

An even better opportunity for brokers, off-market search can help you get ahead of the competition by establishing relationships with owners before they ever decide to list their properties.

To get started with off-market search, you can utilize the Reonomy platform. We will review the search process with Reonomy in the next section.

Don’t Miss: Uncle Remus Mild Sauce Recipe

Let’s Beat The Competition

Working with a broker who is well versed and experienced in multi-family and duplex housing will be a vital asset to your team. We offer a customized approach to each multi-family duplex unit we put on the market and with the knowledge and expertise gained over the year, you can be confident your sale is in the right hands!

+ Flat Apartment Buildings

Foreclosed Apartment Buildings For Sale Chicago Multi

If you’re a seasoned landlord looking to get into the big bucks, a multi-unit building may be the next step in your realty career. Having the cash to put down 25% will make you more money in the long run, and with a balloon-type mortgage there are more opportunities to refinance, making units of 5 or larger money-making machines. The more units you have the more income is possible with a lower risk of vacancy. Economies of scale.

Recommended Reading: Pay Tollway Online Chicago

Cook County Search With Zillow

To start your search for multi family investments in Cook County, head to Zillows homepage and enter Cook County, IL into the location search bar. You can also search by address, neighborhood, city, and ZIP code.

This will bring up the entire inventory of properties for sale in Chicago. In order to only see duplexes, triplexes, and other multi family buildings, you need to select Multi-family from the Home type dropdown menu at the top of the results page.

You can continue applying filters to fine-tune your search. Options include price range, number of beds and baths, parking spots, amenities, desired views, and more.

Once you have a list of results you are happy with, you can arrange it by price, square footage, date, etc.

The map to the left of the search results offers aerial and street views. You can also draw on it if you would like to focus your search in a particular area.

Additionally, you can use the map to highlight area schools and search for properties only in areas with high-rated schools. Purchasing multi family property in the catchment area of a good school immediately enhances the value of your investment.

How To Finance A Duplex Property

There are a number of ways to secure financing when purchasing a multi-family or duplex property.

  • Department of Veterans Affairs – Offers 100% financing options for retired or active military personnel.
  • Rehab Loans – Will provide financing to purchase and renovate properties.
  • Conventional Mortgage – Acquired through a mortgage broker or lender/bank.
  • Federal Housing Administration Loan – lower down payments and credit requirements for medium to low-income families.

Don’t Miss: How To Pay Toll Online Chicago

Albany Park Real Estate Market Stats

Investment properties in Albany Park spend an average of 66 days on the market. Multifamily property values increased by 12.96% from 2015 to 2016, making this a great place to buy investment properties and have a quick return.

Albany Park

This Area has 3 Zip Codes: 60618, 60625, 60630

Neighborhood AveragesZip Code 60625 AveragesZip Code 60630 AveragesListing Type:Area:

# of Units: 3

4653 Harding Chicago IL 60625

Units

4937-39 St Louis Chicago IL 60625

Units

X Plus Team

* Contact X Plus for details. Rules & Exclusions apply

THE X PLUS TEAM IS A TEAM OF REAL ESTATE AGENTS AFFILIATED WITH COMPASS, A LICENSED REAL ESTATE BROKER WITH A PRINCIPAL OFFICE IN CHICAGO, IL, AND ABIDES BY ALL APPLICABLE EQUAL HOUSING OPPORTUNITY LAWS. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATIONAL PURPOSES ONLY. INFORMATION IS COMPILED FROM SOURCES DEEMED RELIABLE BUT IS SUBJECT TO ERRORS, OMISSIONS, CHANGES IN PRICE, CONDITION, SALE, OR WITHDRAWAL WITHOUT NOTICE. NO STATEMENT IS MADE AS TO ACCURACY OF ANY DESCRIPTION. ALL MEASUREMENTS AND SQUARE FOOTAGES ARE APPROXIMATE. THIS IS NOT INTENDED TO SOLICIT PROPERTY ALREADY LISTED. NOTHING HEREIN SHALL BE CONSTRUED AS LEGAL, ACCOUNTING OR OTHER PROFESSIONAL ADVICE OUTSIDE THE REALM OF REAL ESTATE BROKERAGE.

W Huron St Chicago Il 60612

Multi Family Buildings for Sale in Chicago Illinois

$950,000

Listed By Sarah McLennon @properties

West Town! South Facing Wide Expansive 3800 Square Foot + 4 bedroom 3 1/2 Bath Single Family Home Circa 2003 Set on Tranquil Huron St. Oak Flooring w/ Cherry Inlay, Sub Zero, Dual Zoned HVAC, Fireplace, Steam Shower, Mud Room, Walk out Patio. New roof 2019, ready for your dream rooftop deck. Bring your ideas and snag this SFH in West Town under 1M! Steps To Vibrant Chicago Ave Restaurants, Art & Marianos. Priced to Sell.

Read Also: Diagnostic Medical Sonography Programs Chicago

Commercial And Residential Real Estate Listings Websites

While we will only highlight a handful of real estate listings platforms in this section, it is worth noting that there is a multitude of websites that feature multi family properties for sale.

Some are third party platforms that include listings for sale from any broker or owner in the area. Others are brokerage websites that only list the properties represented by the particular company or agent.

If this is your first multi family investment in the Chicago area, a good realtor can guide you on choosing the best neighborhoods and most profitable deals. Experienced investors should be able to spot the right opportunities on their own, using services such as the first one in the list below.

Rent Prices In Chicago Il

With the expiration of certain local, state and federal housing-related restrictions andmandated programs, the rental market in Chicago, IL, is on a rollercoaster ride. Theaverage rent price in Chicago, IL, is $1,836.00. Indeed, when looking to rent inChicago, IL, you can expect to pay as little as $540.00 or as much as $5,500.00,with the average rent median estimated to be $1,710.00. The good news is that findingan affordable and desirable property to rent in Chicago, IL — whether its apartments,townhomes, condominiums or single-family homes — is made easier with knowledge of thelocal market and, of course, a little patience.

Read Also: Taste Of Chicago Festival 2021

Home Buyers Let’s Beat The Competition

Work with a Broker who specializes in multifamily real estate! The advantage is simple.

Properties are selling fast and at times properties are sold before they even hit the market because sellers prefer a quick sale to avoid any potential headaches with tenants. With years of experience in rehabbing and sales we know what to look for during the 1st showing. Our advice will help you determine if the property is worth pursuing or not.

Multi Unit Mixed Use Properties For Sale

The Chicago Real Estate Local: Lincoln Square area multi ...

A mixed-use building blends two or more uses into one building, including any combination of: retail, entertainment, office space, residential, hospitality, parking, or transportation.

Mixed use buildings are appealing to users as they offer all in one features, such as a living space and workspace.

This multi-faceted appeal can help reduce the risk of investing, stacking the odds in your favor when it comes to guaranteeing steady, reliable income.

CREXi

CREXi is a commercial real estate listings platform covering each of the main asset classes, including mixed-use buildings.

You can search for mixed-use properties for sale using CREXIs many search features, including size, price, and lease type. You can also search for properties based on class type .

CityFeet

CityFeet, the sister site of LoopNet, features commercial property in New York Citythough, with a secondary focus on property nationwide.

If youre looking for mixed-use property in New York, CityFeet is your best bet, allowing you to search based on function, size, price, location, and tenancy.

Also Check: How To Pay Toll Online Chicago

Search Available Wicker Park Multi

All Listings
  • 19Baths
  • 0.33Acres

Steeped In Local History And Lore, This Property Harkens To A Time When Buildings Were Crafted On…

  • 12Beds
  • 10Baths
  • 8Beds
  • 7Baths

Incredible 3-unit Building Sitting On A Quiet Cul-de-sac In An A+ Wicker Park Location Just 2 Blo…

  • 8Beds
  • 5Baths

Set On A 47-foot Wide Corner Lot On “mansion Row” In Historic Wicker Park, A German Coal Magnate …

  • 11Beds
  • 4Baths

Unique, Massive, And Truly One Of A Kind Jumbo 3 Flat Sitting On An Oversized Lot In The Heart Of…

  • 9Beds
  • 7Baths
  • 5Baths
  • 0.07Acres
  • 6Baths
  • 0.05Acres
  • 5Beds
  • 5Baths

What A Perfect Investment For Either An Owner Occupied Buyer Or An Investor. A Huge Duplex Up Se…

  • 5Beds
  • 2Baths

New Year, New Home! Create Your Dream Home Within The Walls Of This Extra Wide Old World Brick Tw…

  • 3Baths
  • 0.02Acres

A Unique Property Like This Comes Along Only Once In A While. Situated On A Beautiful Street In H…

N Franklin St Unit 617 Chicago Il 60610

$520,000

Listed By Katharine Waddell Compass

Situated in one of River North’s premier buildings, this 2 bed/2 bath is home! Spacious and light filled in the coveted 17 tier, this unit boasts extra tall ceilings, updated fireplace, large windows and a great open concept kitchen, living & dining with stunning views! Beautifully renovated kitchen offers a large waterfall island with a breakfast bar and new appliances. Fully enclosed primary suite includes a walk-in closet and an en suite bathroom with dual vanity and a linen closet. Second bedroom, also fully enclosed, is gracious in both size and storage with a Jack and Jill bathroom to complete the perfect layout. The home also includes a balcony off the living space. Very well-run association with newly designed sundecks, 24 hour door staff, fitness center, party room, business center and a park perfect for dogs. Prime garage parking included!

MLS# 11308548

12:04PM – 1/27/2022

Also Check: Pay Chicago Skyway Toll Online

Foreclosure Homes In Chicago Il

Find the best foreclosure homes listings for sale bank-owned, government and others in and near the Chicago, IL area atForeclosure.com.Get information on foreclosure homes for rent, how to buy foreclosures in Chicago,IL and much more.Save thousands at closing with home foreclosure listings in Chicago,IL up to 75% off market value!

Home Value Estimator For Chicago Il

Investment Properties for Sale in Chicago Multi Family Buildings

There are currently 595,771 real estate properties in Chicago, IL,with a median automated valuation model price of $300,300.00. What is an AVM? It isa smart computer program that analyzes and predicts the approximate value of a home,property or land in Chicago, IL, based on current market trends, comparable realestate sales nearby, historical data and, of course, property features, among othervariables. These automated home estimates are often very helpful, providing buyers andsellers with a better idea of a homes value ahead of the negotiation process. For example,the average home price in Chicago, IL, is $374,901.00, with the most expensive housein Chicago, IL, topping out at $83,945,700.00 and the cheapest home in Chicago, IL,clocking in at $10,000.00. In other words, theres something for every potential homebuyeror savvy investor in Chicago, IL!

Don’t Miss: Help With Rent In Chicago

+ Unit Multifamily Properties For Sale

Demand and increasing rental rates have been spreading out amongst many secondary U.S. cities, making apartment buildings and other large residential rental properties even more lucrative investments.

5+ unit residential buildings are a great way to build capital in almost any market.

Ten-X

Ten-X provides multi-family apartment buildings and apartment complexes for sale.

The site includes several search featuresnarrow down your search based on financing, net lease, units, and more.

Ten-X allows you to search, conduct due diligence, and even close online reportedly closing deals up to 2X faster than average.

You can also save your search for faster findings next time you use the platform.

ApartmentBuildings.com

ApartmentBuildings.com specializing in, you guessed itapartment buildings.

Its a great place go to find 5+ unit residential properties.

The site allows you to choose from:

  • State
  • Units
  • Building condition

Beyond multi-family properties, you should also consider mixed use, office, and retail multi-unit properties for sale.

While office and retail properties are slightly riskier than multi-family properties when filling units, this risk can be offset with the right level of due diligence.

How To Finance A Multi

Financing options for Multi-family real estate in 2022 include the following:

FHA – Requires a minimum of 3.5% down payment

Conventional – Requires 20% down.

Veterans and Military families – 100% financing is available through VA program.

Rehab Loan – Provides funding for acquisition and improvements. Downpayment varies.

Don’t Miss: The Taste Of Chicago 2021 Dates

Reasons To Move To Chicago Illinois In 2022

Prospective homebuyers are clearly taking advantage of the low interest rates and numerousgovernment assistance programs. These low interest rates mean homebuyers in Chicagocan now afford much more house for the same monthly payment . Motivated andopportunistic sellers in Chicago, meanwhile, can field multiple offers from morequalified buyers.

How To Find Multi Family Homes For Sale In Chicago

The Chicago Real Estate Local: Lincoln Square single ...

With an average cap rate of approximately 5%, multi family properties are one of the most lucrative, low-risk commercial investments available. The challenge for most buyers and other industry professionals, however, is discovering the right opportunities before the competition.

From off-market platforms to Chicago-based brokerages, in this post, well walk you through the best resources for finding multi family homes for sale in Chicago.

Don’t Miss: The Chicago Reporter

Popular Articles
Related news