Multifamily

Multifamily and buy-and-hold rentals in Chicago and Illinois

I help investors buy 2-flats, 3-flats, 4-unit buildings, and small apartment buildings for long-term cash flow. Every property gets underwritten with real rents, actual taxes, and realistic expenses before you make an offer.

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  • Daniel EllingtonLicensed Illinois Real Estate Broker
  • Infiniti PropertiesBrokerage since 1991, Homewood office
  • IL License #475211812Chicagoland and throughout Illinois

Who this is for

Small multifamily investors

2 to 4 unit buildings financed with residential loans.

Apartment buyers

5+ unit buildings with commercial financing, including seller-financed deals.

Long-term holders

Investors building a portfolio for steady cash flow and appreciation.

How it works

  1. Set your criteria Towns, unit count, budget, financing, and cash flow targets.
  2. Find and screen MLS, off-market, and seller-financed opportunities that fit.
  3. Deep analysis Rent rolls, leases, taxes, insurance, repairs, and returns.
  4. Due diligence and close Inspections, estoppels, lease review, and attorney coordination.

What I do for you

  • Deal sheets with cap rate, cash-on-cash return, and DSCR
  • Rent roll and lease review, including below-market rents
  • Tax bill analysis, including exemptions you won't inherit
  • Rental licensing and inspection requirements by town
  • Experience with seller-financed multifamily purchases

Residential vs. commercial financing

Buildings with 1 to 4 units qualify for residential mortgages, including FHA and conventional loans for owner-occupants. Buildings with 5 or more units generally require commercial financing, which focuses on the property's income, typically with larger down payments and shorter terms.

Seller financing can be an option on larger buildings when the owner owns the property free and clear. Every seller-financed deal should be reviewed by a real estate attorney.

Common questions

What is a good cap rate for a rental property?

It depends on the town, building condition, and risk. Higher cap rates usually come with more risk or more management. Compare cap rates within the same area and property type, and look at cash-on-cash return and DSCR with your actual financing.

Can I buy a 5-unit building with a residential loan?

Generally no. Properties with 5 or more units typically need commercial financing. Buildings with 1 to 4 units can use residential loans.

What should I look for in a rent roll?

Current rents vs. market rents, lease end dates, security deposits, tenant payment history, and any units that are vacant or rented to family. Verify everything with leases and, where possible, bank deposits.

Do Illinois towns require rental licenses?

Many do, with registration, inspections, and fees that vary by town. I check the requirements for every building my clients consider.

Do you help with seller-financed multifamily deals?

Yes. I've worked on seller-financed multifamily purchases and can help structure offers. A real estate attorney should review the terms.

This page is general information, not legal, tax, or lending advice. Consult a real estate attorney, CPA, or lender about your situation.

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Investor overview

Looking for your next rental property?

Call or text Daniel directly, or send a message. Most inquiries get a same-day response.

708-625-8788
Infiniti Properties, 2401 183rd St, Homewood, IL 60430
Brokerage 708-206-3000  |  IL License #475211812

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What Our Clients Say About Us

Map Place
Daniel Ellington: Chicago’s Best Real Estate Broker
4.8 (19)
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Adam Bevan
Adam Bevan
11 months ago

Dan was an excellent representative for us and I wouldn't hesitate to work with him again

Lorenzo Douglas
Lorenzo Douglas
8 months ago

Daniel has been amazing for me as an out of state investors. Very response, pretty decent comps. He's gone above and beyond for me.

Jared Rowntree
Jared Rowntree
7 months ago

Daniel was absolutely phenomenal during our house hunt and closing. Any time an issue came up, Daniel took it in stride and helped everybody involved to have a smooth process. He is wildly friendly and knowledgeable, and was invaluable to us as First Time Homebuyers; he kept us informed and up to date the second anything changed. I wouldn’t hesitate to hire Daniel again for my next house, and the next ones after that.

Michael Van Kley
Michael Van Kley
4 months ago

Daniel was great. I would use him again.

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