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0 Beds

$1,190,000

2159 N Laramie Avenue, Chicago IL, 60639

Built in1923
Property typeMulti-family
Listed by Fei Martin with Berkshire Hathaway HomeServices Chicago 312-646-9084

Overview

Active

Listed Feb 3, 2026

Updated 8 days ago

Turnkey 5-Unit Investment | 10 Cap Rate | $140K+ Gross Income | 1:100 Rent-to-Price Hard-to-find combination: a fully gut-rehabbed property generating a 10 in-place cap rate in an upcoming area. The property generates over $140,000 in annual gross income and an approximately 1:100 collected-rent-to-purchase-price ratio, offering investors strong current cash flow from day one. The entire building was completely gut-rehabbed in 2022, including new electrical, plumbing, water lines, gas lines, roof, flooring, walls, kitchens, bathrooms, and appliances. The major capital improvements are already completed, minimizing deferred maintenance and near-term capital expenditure needs. All five units are currently occupied by long-term tenants, with many having renewed multiple times. The property also generates additional income from laundry. For investors, this offers an attractive combination of renovation quality, strong cash flow, stable occupancy, and future upside-without the cost and uncertainty of taking on a major rehab. Properties offering a 10 cap rate after a complete gut rehab are difficult to find. If you are looking for a cash-flowing, turnkey multifamily asset in an emerging area, contact us today for the rent roll, financials, and to schedule a private showing.

$7,917/mo

Est. mortgage payment based on a $1,190,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Other Property Details

Taxes
$11,077
Tax Frequency
Annually
Maintenance Expense
$1,600
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Listed by Fei Martin with Berkshire Hathaway HomeServices Chicago 312-646-9084

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than ESW Chicago are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

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Data is refreshed every 3 hours. Listing last updated 4:01 AM UTC on 10/2/2026. 

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