2318 S Homan Ave is a well-maintained and thoughtfully updated 6-unit multifamily investment property located in the heart of Chicago’s vibrant Little Village neighborhood. This solid brick building has seen extensive capital improvements, presenting an excellent opportunity for a savvy investor seeking both strong in-place cash flow and long-term upside. Each apartment is equipped with newer furnaces and hot water heaters, copper plumbing throughout, and updated kitchens featuring newer stoves, refrigerators, and select cabinet upgrades. The building has been fully updated with new electrical service, conduit and wiring with individual electrical panels for each unit. Exterior improvements include tuckpointing and a newly constructed two-car garage. There is also an opportunity to add a legal 7th unit in the unfinished attic space that spans the entire building. With stable operations and clear potential for rent growth through lease renewals, this property offers the ability to further enhance returns while benefiting from a well-improved asset. A strong multifamily investment with attractive current income and long-term appreciation potential-an excellent addition to any real estate portfolio.
Property Details
Price:
$700,000
MLS #:
MRD12553916
Status:
Active Under Contract
Beds:
2
Baths:
2
Type:
Commercial
Neighborhood:
chisouthlawndale
Listed Date:
Mar 4, 2026
Year Built:
1908
See this Listing
Schools
Interior
Cooling
None
Exterior
Construction Materials
Brick
Stories
3
Financial
Maintenance Fee
$3,000
Tax Year
2024
Taxes
$9,119
Map
Community
- Address2318 S Homan Avenue Chicago IL
- CityChicago
- CountyCook
- Zip Code60623
Market Summary
Current real estate data for Commercial in Chicago as of Jun 17, 2026
914
Commercial Listed
187
Avg DOM
$991,263
Avg List Price
Property Summary
- 2318 S Homan Avenue Chicago IL is a Commercial for sale in Chicago, IL, 60623. It is listed for $700,000
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Copyright 2026. All rights reserved.
2318 S Homan Avenue
Chicago, IL


