What is the average price and cap rate for 12 unit apartment buildings on the south side of chicago?

Asked by Greg, Chicago, IL Mon Feb 25, 2008

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Ken Dooley, Agent, Chicago, IL
Tue Feb 26, 2008

A quick search of the Kenwood, Woodlawn & South Shore areas shows apartment buildings greater than 12 units (on average, 20 unit buildings) are listed at $1.1m but this is too vague an analysis due to unit sizes, location and building type for it to be of any use.
The CAP rate is not listed for each property but a good guideline is to focus on buildings with a CAP rate of at least 6.5-7%.
Please provide a more specific area so that accurate and more detailed information can be provided.

Thank you, Ken.
Web Reference:  http://www.KDRchicago.com
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