Interra Realty is pleased to present a market analysis for the multifamily properties at 501-509 Chicago Road in Thornton, Illinois. The subject investment opportunity consists of two buildings with 34 units total and 1:1 off street parking. The buildings are positioned in Thornton, Illinois which is approximately 22 miles South of the downtown Chicago Loop. This location offers commuters convenient access downtown via the Hazel Crest Metra Train Station, Interstate 294, and many bus stops nearby.
The unit mix comprises of 4 studios, 20 1-bedrooms, and 10 2-bedroom units. Approximately 5 out of 34 units are currently subsidized and 20 out of the 34 units fully rehabbed. The units are heated by hot water baseboard heat and cooled via individual wall A/C units. There are 2 wash and 2 dry machines at each building and they are operator owned.
A new investor has the opportunity to lower property taxes by 22% via eligibility of The Affordable Housing Special Assessment Program.