Multi-Family Homes and Real Estate in Chicagoland

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When you think of a home, you typically picture a single-family home in your mind. Most people don't consider multi-family residential homes right away. Maybe you don’t even know what multi-family housing is? Multi-family properties make up quite a bit of the residential real estate market and if you are an investor, you just might want to consider a multi-family property in your investment portfolio. Before you jump in, take a look at the details below so you can have all the information you need before buying a multi-family home.Multi-Family Real Estate Listings in and Around Chicago

What is Multi-Family Housing?

Muti-family property is any residential real estate that allows for two or more households to live at the same time. There is a range in this property type. Typically these properties rent out the available home space to tenants rather than being occupied by the owners like most single-family homes. In multi-family properties, tenants will usually share walls, floors, or even in some cases utilities and parking spaces. In some cases, you will also share common spaces like yards.

What are the types of Multi-Family Housing?

Condominiums

Condominiums are common multi-family homes. Residents own their units or the building owner will rent out some or all of the units within.

Apartments

An apartment building is another common multi-family housing option. Each apartment has its own living space including bedrooms, bathrooms, kitchen, and living room. Other areas like parking or yards are shared. Apartment buildings range in size and can be a few units or hundreds depending on the development.

Duplexes

Multi-Family Real Estate Listings in and Around ChicagoA duplex is a multi-family home that is two units in one building. The residents will share a wall but they will have separate entrances to their homes and in some cases their yards. There are variations of a duplex like a triplex and or fourplex.

Garden apartments

A garden apartment is a low-rise multifamily housing development with fewer units. These are typically found in the suburbs on the outskirts of cities.

Benefits of Multi-Family Housing

The biggest benefit of multi-family housing is that it is more affordable. It can be difficult for some to buy a home and being able to rent in a multi-family housing development can be a housing solution for many. Typically these developments reduce finances for the investor because if one unit is behind on rent while the others are on time, there is still an income. In this case, residents are also not affected by the financial choices of their neighbors. Multi-family developments are typically maintained and managed by a team or company on behalf of the owner as well.

Things to look out for in Multi-Family Housing

If you are looking to invest then you want to look for a multi-family home that has been previously well-maintained. Check on the managing agent or unit owner and pay attention to the maintenance history. As an investor, you also want to look at the rental history. You need to make sure you will get a return on your investment. A bad rental history is a red flag for you. Take a look at the area and the housing demand in that area. Lastly, make sure you can maintain the multifamily home or complex and factor in those financials.


Yes, Chicago is known for its diverse neighborhoods and vibrant housing market. The city is home to a wide range of neighborhoods, each with its own unique character and charm. From historic brownstones to modern high-rise apartments, there is a wide variety of housing options available in Chicago.

The city's housing market is also very active, with a large number of homes being bought and sold each year. This can make it a great place for both buyers and sellers, as there are always plenty of opportunities to find the right property or to sell your home.

Additionally, Chicago's diverse economy and strong job market make it an attractive place to live for many people, which can drive demand for housing in the area. Overall, Chicago's combination of diverse neighborhoods, the vibrant housing market, and strong economy make it a great place to live and invest in real estate.

If you are looking for any kind of multi-family home or development, then you are in the right place. This can be a great investment to add to your real estate portfolio. To get more information and start your search for these properties today, contact us. We are here to help with all of your Chicago real estate needs.

Search All Multi-Family Around Chicagoland September 27, 2023
4064
Listed
80
Avg. DOM
$212.78
Avg. $ / Sq.Ft.
$350,000
Med. List Price
4064 Properties
Page 1 of 204
Open 9/30
3550 N Albany Ave Chicago,  IL 60618
6
Beds
3
Baths
1
Day on Site
11870621
MLS
This well maintained building is nestled in the thriving neighborhood of Avondale and offers an incredible investment opportunity with the perfect blend of comfort and style. With 2 bedrooms and 1...
3
Beds
2
Baths
1
Day on Site
11895061
MLS
Two Unit building. Needs some work, but not full rehab. Non paying tenant occupies first floor. Sold as-is.
4
Beds
3F11/2
Baths
1,628
Sq.Ft.
1
Day on Site
11894668
MLS
END UNIT TOWNHOME ON A CUL-DEC-SAC WITH A FULL FINISHED BASEMENT. HAS BY FAR THE LARGEST LOT IN THE SUBDIVISION ALMOST A THIRD OF AN ACRE! 4 BEDROOMS & 3.5 BATHS! HARDWOOD FLOORS IN DINING ROOM AND...
2
Beds
2F11/2
Baths
1,402
Sq.Ft.
1
Day on Site
11893542
MLS
These townhomes don't come along often. This is an end unit, with beautiful pool views, 2-story home with a full basement and 2 car attached garage. Shadowbend is a well run townhome community with...
3
Beds
2F11/2
Baths
1,731
Sq.Ft.
1
Day on Site
11895116
MLS
Move-in ready and waiting for you or to invest in this rentable unit! This exquisite townhome, constructed in 2017, boasts a prime location just across from a picturesque park, offering a serene pond...
Open 10/1
204 Lathrop Ave Forest Park,  IL 60130
5
Beds
2
Baths
0.33
Acres
1
Day on Site
11895133
MLS
Calling all investors!! Priced to sell and only available until 10/01/23! Incredible opportunity to update a two unit building in Forest Park! On the border of River Forest and Oak Park, but with...
45,020
Sq.Ft. Lot
1
Day on Site
11891957
MLS
WELL ESTABLISHED DOGGIE DAYCARE AND BOARDING BUSINESS FOR SALE IN MOKENA. THE SALE INCLUDES THE BUSINESS, EQUIPMENT, FIXTURES AND REAL ESTATE. ALFIE'S HAS BEEN IN BUSINESS SINCE 2006 & PROVIDES...
1
Day on Site
11889645
MLS
Commercial condo for sale with all FF&E included! Take over the existing beauty business or start your own salon. This commercial condo is strategically located on the busy Sheridan Rd and in a...
3
Beds
2F11/2
Baths
2,174
Sq.Ft.
1
Day on Site
11895181
MLS
WOW! This stunning Columbus model end unit in Mayfair sits on an ultra premium lot with pond view and a lookout basement. Dripping with upgrades this home features beautiful mahogany hardwood floors,...
4
Beds
5
Baths
0.12
Acres
1
Day on Site
11875363
MLS
Beautiful, extra wide brick 4-flat on extra wide, park-like 50 x 105 ft lot in East Garfield Park. Easy access to highway and steps from the Boulevards. Building is situated next to the historic...
7
Beds
2
Baths
1
Day on Site
11895256
MLS
INVESTORS!!! Anyone who wants to buy a 4 unit for the price of a 2 unit, here is your chance! This remodeled 2 unit multi unit building has 2 non conforming units to make it a 4 unit building. All...
5
Beds
6
Baths
0.26
Acres
1
Day on Site
11850838
MLS
2 Flat with loads of potential, sold strictly As-Is. Has been a long time income producer for this owner but now it's time to move on and turn it over to a new entrepreneur. Utilities are not...
Open 9/30
4716 N Winthrop Ave Chicago,  IL 60640
7
Beds
4
Baths
1
Day on Site
11894828
MLS
Location, Location, Location!!! Nestled in the Heart of Uptown Chicago! This classic red brick 3-Flat building is on an Oversized Chicago lot 32 x 141 feet, Zoning RT-4, presents a Unique Opportunity...
Open 10/1
7949 S Throop St Chicago,  IL 60620
5
Beds
2
Baths
1
Day on Site
11895166
MLS
Auburn Gresham's newest multi family that you've been waiting for! Spacious floorplan that includes a separate living and dining room, a sun porch, electrical fireplaces that enhances the...
6
Beds
3
Baths
1
Day on Site
11890932
MLS
Welcome to a new refurbished 2 flat units with all new interiors from the floor to the ceiling. Newly remodeled Kitchens with new kitchen counters and kitchen appliances. Newly remodeled bathrooms...
Open 9/30
728 E 42nd St Chicago,  IL 60653
3
Beds
3F11/2
Baths
2,593
Sq.Ft.
1
Day on Site
11895333
MLS
What a gorgeous opportunity. End unit row home featuring 4 bed 3.5 bath ideally situated on the lakeside of Bronzeville. Bordering Kenwood in the Oakland area and tucked in off Cottage Grove, this...
Open 10/1
4140 W Wilcox St Chicago,  IL 60624
9
Beds
5
Baths
1
Day on Site
11824461
MLS
Introducing a remarkable opportunity in West Garfield Park-an expansive brick 3-unit multifamily property that showcases modern upgrades and ample living space. The units are equipped with updated...
Open 9/30
2220 N Lakewood Ave Chicago,  IL 60614
3
Beds
2F11/2
Baths
1
Day on Site
11885675
MLS
Luxury, move in ready 3BR/2.5BA Lincoln Park townhome with beautiful hardwood floors throughout. This recently updated, spacious home features 3 full levels of living space with the privacy of a...
4
Beds
3
Baths
1
Day on Site
11895367
MLS
LOOK NO FURTHER, THIS IS THE DIAMOND IN THE ROUGH YOU HAVE BEEN LOOKING FOR. This is a great investment. 2 Unit building in need of a full rehab. The second floor is duplexed to the attic. ...........
3
Beds
3F11/2
Baths
2,800
Sq.Ft.
1
Day on Site
11885296
MLS
Location & Convenience - End-unit townhome, located in the heart of Palatine has it all! This bright & spacious 3bedroom, 3.5 baths; is located 5-minute walk to Metra, Downtown Palatine's shops &...

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