Map of Property

4317 W. Flournoy

4317 West Flournoy Street, Chicago, IL 60624

  • For Sale $1,600,000
  • Property Type Multi-Family
  • Property Size 23,650 SF
  • # of Floors 4
  • Date Updated Apr 25, 2025

Midwest Investment Advisors with KW Commercial and Keller Williams ONEChicago is Pleased to present an exceptional value-add multifamily investment opportunity located at 4317 W Flournoy St in Chicago's North Lawndale neighborhood. This 24-unit brick walk-up is comprised of (11) one-bedroom units, (12) two-bedroom/one-bathroom units, and (1) three-bedroom/one-bathroom unit. Priced at just 1,600,000-equating to 66,667 per unit and 68 per square foot-this asset presents a rare chance to acquire at a basis well below replacement cost. 

Currently generating a net operating income (NOI) of $168,292, the property offers significant upside through renovation and stabilization. Ten of the units are vacant and ready for immediate renovation, with the remaining units all operating on month-to-month leases-allowing flexibility for repositioning. An investor can implement a phased renovation plan with a total budget of $720,000- $360,000 allocated initially to the first 12 available units and $360,000 for the remaining 12 units. 

Post-renovation projections indicate a pro forma NOI of $235,819. The current cap rate, including the first $360,000 renovation tranche, is a compelling 8.59%, while the pro forma cap rate after the full $720,000 renovation is an outstanding 12.03%. The Gross Rent Multiplier (GRM) based on current rents plus renovation is 5.51, and improves to 4.73 on a pro forma basis. 

This investment offers a current cash-on-cash return of 10.17%, rising to an impressive 19.05% once the remaining units are renovated and the property is fully stabilized at market rents. This is a rare opportunity to unlock substantial cash flow in a strengthening West Side submarket with strong rental demand and ongoing revitalization.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Contacts

broker
Anthony Hardy

Keller Williams ONEChicago

broker
Travis Montgomery

Keller Williams ONEChicago

Location

Getting Around

  • Walk Score ®

    57/100 Somewhat Walkable

  • Transit Score ®

    66/100 Good Transit

  • Bike Score ®

    58/100 Bikeable
Powered by Walk Score ®
  • City Chicago, IL
  • Neighborhood West Garfield Park
  • Zip Code 60624
  • Market Chicago

Points of Interest

  • Cicero

    0.69 miles

  • Kostner

    1.28 miles

  • Central Park

    1.58 miles

  • Kedzie

    1.63 miles

  • 54th/Cermak

    1.85 miles

  • Uber Tent

    3.26 miles

  • California

    3.93 miles

  • Berwyn

    4.10 miles

  • Ashland

    4.18 miles

  • UIC-Halsted (Morgan Street)

    4.22 miles

  • BP

    0.19 miles

  • Amoco

    0.43 miles

  • Citgo

    0.46 miles

  • Gulf

    0.58 miles

  • Shell

    0.61 miles

  • Exxon

    0.65 miles

  • Falcon

    0.68 miles

  • Soofa Solar Phone Charger

    3.41 miles

  • EVgo

    3.43 miles

  • Electrify America

    4.00 miles

  • 54th/Cermak Park & Ride

    2.08 miles

  • Lot 57

    2.54 miles

  • West Suburban Hospital Parking Garage

    2.59 miles

  • Lot 46 G

    2.63 miles

  • Visitor Parking

    2.74 miles

  • Lot W5

    2.81 miles

  • Jewel Osco Lot

    2.82 miles

  • f

    2.96 miles

  • Shamrock Motel

    0.77 miles

  • Karavan Motel

    1.14 miles

  • Cindy Lyn Motel

    2.27 miles

  • Hyatt Place Chicago - Medical / University District

    3.10 miles

  • Hyatt House Chicago - Medical / University District

    3.17 miles

  • Hotel Chicago West Loop

    3.41 miles

  • Courtyard by Marriott Chicago at Medical District / UIC

    3.47 miles

  • Fullerton Hotel

    3.62 miles

  • Holiday Jones

    3.86 miles

  • IHSP Chicago Hostel

    3.94 miles

  • Jerk Taco Man

    0.51 miles

  • Subway

    0.54 miles

  • Taste Buds

    0.62 miles

  • Hody's Grill

    0.70 miles

  • White Castle

    0.77 miles

  • Checkers

    0.77 miles

  • Whale Fish and Chicken

    0.97 miles

  • Soule

    0.99 miles

  • New Pine Valley Restaurant

    1.03 miles

  • McDonald's

    1.04 miles

  • Sumner Elementary School

    0.05 miles

  • Webster Elementary School

    0.39 miles

  • Hefferan Elementary School

    0.45 miles

  • Frazier International Magnet School

    0.52 miles

  • Debbies School of Beauty Culture

    0.60 miles

  • Genevieve Melody Elementary School

    0.65 miles

  • CCA Academy

    0.66 miles

  • Ebenezer School

    0.71 miles

  • Malcolm X College Westside Learning Center

    0.74 miles

  • Bethel Lutheran School

    0.75 miles

  • Our Lady of Lourdes Child Development Center

    0.81 miles

  • Herzl Child-Parent Center

    0.98 miles

  • YMCA Child Care

    1.33 miles

  • Dorie Miller Child Parent Center

    1.63 miles

  • Little Folks Cottage Inc

    2.11 miles

  • ABC Toon Town Day Care

    2.35 miles

  • Sunny Days Kid's Academy

    2.47 miles

  • Morningside Children's Academy

    2.57 miles

  • Luis Munoz Marin Primary Center

    2.60 miles

  • Adams Street Child Care Center

    2.98 miles

Frequently Asked Questions

How much does 4317 W. Flournoy cost?

The space currently listed for sale at 4317 W. Flournoy asks for $1,600,000.

What is the total square footage of 4317 W. Flournoy?

4317 W. Flournoy totals 23,650 square feet.

Looking for more in-depth information on this property?

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.

Contact 4317 W. Flournoy
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.