3548 West 13th Place
$500,000
48
21
—
—
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New
Description
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...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.
- Listed by Anthony Hardy • Keller Williams ONEChicago
- Listed by Travis Montgomery • Keller Williams ONEChicago
Property Details for 3548 West 13th Place
Area
CHI - North Lawndale
TownshipWest Chicago
ZoningMULTI
LISTING UPDATED: 01/08/2025 02:05 AM
Property Details for 3548 West 13th Place
Status | New |
---|---|
MLS # | 12266620 |
Days on Market | 2 |
Taxes | $563 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family 5+ / Corridor-Exterior Entrance |
Year Built | 1901 |
Lot Size | 0.08 AC / 3,484 SF |
County | Cook County |
Building Information for 3548 West 13th Place
Stories3Residences6Year Built1901Building Size-Lot Size0.08 AC / 3,484 SF
Property Information for 3548 West 13th Place
Property History for 3548 West 13th Place
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 3548 West 13th Place
Taxable ValueLand$4,551Additions$26,448Total$30,999
Tax Record2022$6,398 ($533 / month)
Home Facts
Baths6Total Finished SqFt6,219 SqFtAbove Grade Finished SqFt6,219 SqFtStories3Lot Size3,874 SqFtStyleMulti-Family Res (5+ Units)Year Built1903CountyCOOKAPN16-23-202-022
Schools near 3548 West 13th Place
This home is within Chicago Public Schools.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 8 | |||
Charter - | K to 8 |
Rating | School | Distance |
---|---|---|
Lawndale Elementary Community Academy PublicPK to 8 | ||
Manley Career Academy High School Public9 to 12 | ||
Frazier Prep Academy Charter Elementary School CharterK to 8 | ||
LEARN Charter - Romano Butler Campus CharterK to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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