Mitir Patel Real Estate Broker

Home
United States
Chicago, IL
Mitir Patel Real Estate Broker

Call Directions Website

Mitir is a Chicago real estate expert in multi-family & single-family homes, including renovating experience, and ground up new construction

Mitir is a Chicago real estate expert in multi-family & single-family homes, including renovating existing properties and property management. With an eye for aesthetics, Mitir can assist the client throughout the entire real estate process. If you’re looking to buy or sell a home in or near Chicago, Mitir Patel can help you! Your satisfaction is his top priority. For a stress-free experience, Mitir will be there every step of the way. To get started today, please contact Mitir at 773.209.4785

11/05/2026

Two listings with Quinn Evans, at both ends of Logan Square.

North: 2936 N Allen Ave in Avondale. 3 units, fully leased, $679,000 ($226,333 per unit, 5.6% in-place cap).

South: 1626 N Washtenaw Ave, where Humboldt Park meets Logan Square. A gut-rehabbed four-unit, fully leased, $1,379,000 ($344,750 per unit, 6.0% in-place cap).

A first building or a turnkey four-unit. Message Quinn or me for either rent roll.

Listing brokers, Essex Three-Twelve · mitirpatel.com · Photos: Prestige Real Estate Images

11/05/2026

Just closed: 909 N Leavitt St in Ukrainian Village.

A six-unit built in 1913 and gut renovated in 2014, with three units in front and three in the rear. It closed October 29 at $1,875,000 ($312,500 per unit). I represented the buyer.

If you are looking for a 3 to 12 unit building on the West Side, or wondering what yours would bring, send me a message.

https://mitirpatel.com

11/03/2026

For investors: 2936 N Allen is fully leased at $4,800 a month, producing $37,936 of in-place NOI, a 5.6% cap rate at the $679,000 asking price (GRM 11.8). Rents sit below the comps. At $5,500 a month ($2,150 for the 3-bed, $2,050 for the 2-bed, $1,300 for the attic unit), pro forma NOI reaches $46,000, a 6.8% cap. All three leases roll between June and September 2027.

Two legal units plus a non-conforming attic unit.

Quinn and I have the full rent roll.

Essex Three-Twelve · mitirpatel.com

11/01/2026

For investors: 2936 N Allen is fully leased at $4,800 a month, producing $37,936 of in-place NOI, a 5.6% cap rate at the $679,000 asking price (GRM 11.8). Rents sit below the comps. At $5,500 a month ($2,150 for the 3-bed, $2,050 for the 2-bed, $1,300 for the attic unit), pro forma NOI reaches $46,000, a 6.8% cap. All three leases roll between June and September 2027. Two legal units plus a non-conforming attic unit.

Quinn and I have the full rent roll.

Essex Three-Twelve · mitirpatel.com

10/28/2026

Join us this Saturday, October 31, from 11 AM to 1 PM at 2936 N Allen Avenue, a fully leased three-unit building in Avondale on the northern edge of Logan Square. It's offered at $679,000 ($226,333 per unit).

The building has a 3-bed, a 2-bed and a non-conforming 1-bed attic unit, a 1.5-car garage and a backyard, with separately metered electric. All three units are leased into mid-2027 at $4,800 per month combined. It's a short walk to Milwaukee Avenue and the Belmont Blue Line.

Stop by with your questions, or reach out to us for the rent roll and the offering memorandum.

OPEN HOUSE

Saturday, October 31, 11 AM - 1 PM

2936 N Allen Ave, Chicago, IL 60618

SUMMARY

Sale price: $679,000

Units: 3

Price per unit: $226,333

Neighborhood: Avondale

Year built: 1896

HIGHLIGHTS

- 3 units: a 3-bed, a 2-bed and a non-conforming 1-bed attic unit

- Fully leased at $4,800/month, with leases running into mid-2027

- 1.5-car garage, backyard, separately metered electric

- Short walk to Milwaukee Avenue and the Belmont Blue Line

CONTACT: Mitir Patel and Quinn Evans

Photos: Prestige Real Estate Images

10/27/2026

Chicago asking rents rose 2.6% year over year in August, fourth-fastest in Yardi Matrix's national report behind San Francisco, New York and Kansas City. The U.S. average rose 0.4%.

Curious what your building's rents would support at sale? Message me. Mitir Patel · Director, Essex Three-Twelve · 773.209.4785 · mitirpatel.com

10/27/2026

Price reduced: 2821 W 25th St is now $599,000, down from $650,000.

Six legal units in a brick building in Little Village, at $99,833 a door. On the same block, a two-unit brick building closed at $457,000 in September, so this is three times the units for $142,000 more.

The two garden units are demoed, and the City issued the permit for their interior renovation in April 2026. Finish those two and you own a fully finished six-unit.

Listed with Quinn Evans. Message me for the OM.

https://mitirpatel.com/

10/26/2026

Just closed: 3501 N Damen Ave in Roscoe Village.

An 1891 frame five-unit on a 3,500 SF corner lot at Damen and Cornelia, bought for $1,350,000 ($270,000 per unit). I represented the buyer, who plans to redevelop it into seven completely renovated rental units.

If you are looking for a 3 to 12 unit building with upside, or wondering what yours would bring, send me a message.

https://mitirpatel.com

10/22/2026

For investors: 1626 N Washtenaw is fully leased at $9,310 a month, producing $83,137 of in-place NOI, a 6.0% cap rate at the $1,379,000 asking price. At market rents ($2,450 for the 2-beds and $3,000 for the duplex), pro forma NOI reaches $95,118, a 6.9% cap. The leases roll between January 2027 and April 2028.

Quinn Evans and I have the full rent roll.

Essex Three-Twelve · mitirpatel.com

10/21/2026

The 30-year fixed mortgage rate averaged 7.40% in Freddie Mac's survey for the week of Oct 8, up from 6.30% a year ago. Northmarq reports Chicago multifamily cap rates averaged 6.0% in the first half of 2026. When borrowing costs more than a building currently yields, buyers price the deal on rent growth and the renovation plan rather than on today's income.

Own a two-flat to a twelve-unit building and want to know how today's buyers would look at it? Let's talk. Mitir Patel · Director, Essex Three-Twelve · 773.209.4785 · mitirpatel.com

Address

3302 N Lincoln Avenue Unit 345
Chicago, IL
60657

Telephone

+17732094785

Website

https://mitirpatel.com/

Alerts

Be the first to know and let us send you an email when Mitir Patel Real Estate Broker posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.