501-509 Chicago Rd - Apartments FOR SALE


Thornton, IL 60476
$3,190,000 USD
847-363-7774
501-509 Chicago Rd, Thornton, IL for Sale
$3,190,000 USD
Apartments - FOR SALE
1/12
null | 8% Cap Rate

501-509 Chicago Rd
Thornton, IL 60476


OVERVIEW

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.

FOR SALE DETAILS

PRICE

$3,190,000 USD

PRICE/SF

$134 USD /SF

# OF UNITS

34

PRICE/UNIT

$93,824

CAP RATE

8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

MF

APN/PARCEL ID

29-27-400-123-0000,29-27-400-126-0000

ASK ABOUT THIS PROPERTY

Michael DucklerInterra RealtyMore Info
847-363-7774

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Michael DucklerInterra RealtyMore Info
847-363-7774

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.