7951 S BURNHAM AVE — Sale in Chicago, IL

  • Price: $420K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Chicago, IL 60617
  • Size: 6,564 SF
  • Year built: 1925

Investment Figures

Price per square foot
$64
Price per unit
$70,000 across 6 units

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Presented by Tyrone Green and Midwest Investment Advisors with KW Commercial and Keller Williams ONEChicago, this value-add multifamily investment opportunity offers investors the chance to acquire a solid 6-unit brick apartment building at a purchase price of $420,000. The property is comprised of (6) two-bedroom, one-bathroom units, providing a consistent and desirable unit mix that appeals to a broad range of renters seeking functional, well-proportioned living spaces. Each apartment features a practical layout with separate living and dining areas, creating a more comfortable residential feel than a standard compact floor plan. The kitchens include pantry space, adding everyday convenience and storage for tenants. This layout design enhances tenant appeal and provides a strong foundation for an investor looking to improve the property through cosmetic upgrades, operational efficiencies, and rental repositioning over time. From an investment standpoint, the property presents a compelling opportunity for a new owner to increase rents and overall asset value through a strategic value-add program. Whether the plan is to renovate units as they turn, improve common areas, enhance exterior curb appeal, or optimize management, the building offers clear upside for an investor focused on stabilization, equity creation, and long-term cash flow growth. The all-brick construction also provides the durability and character that many investors value in Chicago multifamily assets. In addition to the residential units, the property includes a 3-car detached garage, which can serve as an added amenity for tenants and may also present additional income potential depending on how parking or garage usage is structured. This extra component adds another layer of utility and value to the overall investment. The location further strengthens the opportunity. Situated just south of the South Shore neighborhood, the property benefits from convenient access to South Shore Drive, Lake Michi

Market Context

This multifamily in Chicago, IL is listed for sale at $420,000 across 6,564 SF. The building dates to 1925. It has been on the market for 71 days. Compare it against other multifamily listings for sale in Chicago, IL — view the full market.

As of Q1 2026, the Chicago multifamily market showed rents up 9.3% year over year, and cap rates around 4.9%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Chicago?
About 4.9% as of Q1 2026, per multiple brokerage reports.

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