4136 W Palmer Street, Chicago, IL 60639

• 10 beds |
• 6 baths

Property Description

Compelling cash-flow investment featuring $108,000+ annual rental income from annual leases to strong-credit tenants, $80,500 NOI, 7.5 cap rate, and 9.95 GRM at asking price. Turnkey all-brick asset offering additional upside through furnished rentals, laundry, garage, and parking income. Located just west of Logan Square, this well-maintained Chicago apartment building sits in a stable residential setting surrounded by well-kept single-family homes and benefits from consistent rental demand. Just two blocks from the Healy Metra station and the Fullerton bus line, providing convenient commuter access and strong tenant appeal. The property has been substantially improved in recent years and offers an attractive blend of updated interiors and preserved vintage character. EVERY unit features fully updated kitchens and baths consistent with the property photos, along with stainless steel appliances, granite countertops, refinished hardwood flooring, original stained-glass accents, and quality woodwork throughout. Capital improvements include tuckpointing, newer individually controlled forced-air furnaces, central air systems, updated hot water heaters, and other key mechanical upgrades. Additional value is provided through on-site coin laundry, 2-car garage, private parking pad, and ample free street parking. The building offers a total of 10 bedrooms and 6 bathrooms across the property. Well-positioned investment property with immediate cash flow, strong in-place income, and continued upside potential.

Listing Status:

Active

Data Last Updated:

May 20, 2026 at 3:20AM

Listing Office:

Real 1 Realty : 847-361-9722

Listing Agent:

Travis Bjork : 847-361-9722

MLS ID:

12621822

Interior

• Basement: FinishedFull
• Heating: Natural Gas

Exterior

• Parking: YesGarage OwnedDetachedGarageParking spaces: 2

Location

• Originating MLS: mred
• School District: 299
• County: Cook

Lot

• Zoning: MULTI13342130430000

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: mred
• Ownership: Fee Simple