Favela bought and rehabbed homes on Chicago's West Side. He was found dead Monday night in a garage in the 1100-block of North Springfield Avenue.
Favela was kidnapped Saturday from a home in the 2200-block of South Keeler that he was showing to some prospective renters.
Jeremy Borders, 36, is now charged with murder and kidnapping. Murder charges were also filed against Darnell Stokes.
A third man, Keith Watts, is charged with kidnapping.