4541 S Forrestville Avenue, Chicago, IL 60653

Active · For Sale · Multi Family 5+

$1,100,000

4541 S Forrestville Avenue, Chicago, IL 60653

Units
5
Price / Unit
$220,000
Est. Cap Rate
13.69%
Est. GRM
6.43

Property Overview

RARE investment opportunity in the heart of Bronzeville-a beautifully restored 1903 historic mansion thoughtfully converted into four oversized luxury apartments on a rare double-wide lot with additional value-add potential. This architect-designed 2025 renovation masterfully blends timeless vintage character with modern functionality, preserving original stained and leaded glass, intricate woodwork, hardwood floors, pocket doors, fireplaces, built-ins, and original doors throughout while introducing all new plumbing, upgraded 400-amp electrical service with separate meters, water heaters, insulation, custom kitchens, designer bathrooms, and individual HVAC/mini-split systems. Residents enjoy exceptional outdoor amenities including a welcoming front porch, private rear decks, side yard, and common courtyard patio. A substantial brick coach house provides three garage parking spaces on the main level while the upper level offers an outstanding opportunity for future expansion. Previously configured as additional living space, it presents tremendous potential for a fifth residential unit, guest suite, studio, office, or other income-producing use, subject to buyer verification and any required approvals. Each apartment occupies nearly an entire floor and benefits from four exposures, flooding the homes with natural light while offering spacious layouts, large…

Investor Resource

Property Intelligence

Financial Snapshot

Reported Annual Income
$171,000
Reported Annual Expenses
$20,366
Estimated NOI
$150,634
Estimated Cap Rate
13.69%
Estimated GRM
6.43
Annual Taxes
$10,860 (2024)

Property Details

Units
5
Lot Dimensions
6002
Stories
4
Year Built
1888
Building Age
Older
Parcel Number
20034170170000

Operations & Utilities

Heating
Forced Air, Heat Pump
Tenant Pays
Air Conditioning, Electricity, Heat

Location & Use

County
Cook
Market Area
Chicago - Grand Boulevard

Reported figures come from the listing source. When shown, estimated NOI and cap rate use reported income and expenses; estimated GRM uses asking price and reported income. All figures should be independently verified.