investors chicagoHipster loves multi-family properties. Why? They make cents (or rather – sense). Instead of adding just one source of monthly income to your portfolio via a single family rental, it’s pretty great to add several from a multi-family property (though, of course, we love single families too). Hipster, as you may know, also loves investing in Chicago. What’s not to love about Chi-town? From the Sears Tower (okay, okay – it’s called Willis Tower now) to great comedy and delicious pizza – this city rocks. It’s not only fun to visit: it’s a great place for investors to set up shop. Why? Lots of jobs means lots of stable tenants. Lots of colleges mean lots of tenants. Oh, and the buy-in prices are superb. Check out today’s find: it’s a triplex with a one year scope of work warranty!

Location: Chicago, IL. Triplex.

Built In: 1913(but fully redeveloped)

Purchase price: $205,000 (not a foreclosure, normal sale)

Property info: 9 bedrooms, 3 bathrooms, 4,818 square feet (total for all 3 units)



Monthly rent collected: $3,250


Monthly expenses

Property taxes: $313

Insurance: $163

Property management fees: $260

Landscaping: $120

Owner Paid Utilities: $145

Monthly expenses (conservatively estimated)

Vacancy (7%): $228

Repairs (5%): $163

Total Monthly Expenses- $875

Net Income = Income – Expenses = $1,391


Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 8.11%

Cash-on-cash return =

Depends on your leveraging.

If you are interested in this property or seeing others like it, contact Melissa at




  • Shawn

    Ali, I think I’m missing something. Are the numbers for this one right? Is there additional or multiple costs because this is a multi-family property?

    • Ali

      Agh! So sorry Shawn and good catch. Typo 🙂 This is a triplex and for $250k. Then the rest of the numbers work out better.

  • Eric Menefee

    This looks like a great deal. I will be looking for something like this in the near future.

    • Ali

      Great Eric. Let us know when you are ready and we will get you connected. Don’t wait too long though, Chicago has been on quite the appreciation rise lately.

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