Knox & Kilpatrick Apartments Multi-Family FOR SALE


Oak Forest, IL
$8,850,000 USD
312-722-7917
, Oak Forest, IL for Sale
$8,850,000 USD
Multi-Family - FOR SALE
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Knox & Kilpatrick Apartments
Oak Forest, IL


HIGHLIGHTS

  • Strong Suburban Location - .7 Miles to Oak Forest Metra and One Fifty Seven Development
  • Significant Rental Upside – Current Rents 10%-15% Below Market “As-Is”
  • Recent Capital Improvements – Including New Surface Parking Lot and Balcony Renovations (2024)
  • Assumable Debt Available – $4,993,872 Balance with a 4.40% Fixed Interest Rate Until August 1, 2027

OVERVIEW

Essex Realty Group, Inc. has been exclusively engaged to market for sale the Knox & Kilpatrick Portfolio, a 96-unit apartment portfolio located in Oak Forest. The Portfolio consists of six neighboring buildings featuring 48 studios and 48 one-bedroom units. Current ownership has completed interior renovations on 25 units and exterior improvements, including a new surface parking lot and balcony renovations in 2024. As noted in the enclosed rental survey, current rents are 10%-15% below market as-is, providing immediate rent growth potential with minimal additional work required. The portfolio presents investors with a rare opportunity to acquire scale in a growing suburban market, supported by a strong, stabilized income stream. The Knox & Kilpatrick Portfolio is ideally located less than one mile from the Oak Forest Rock Island District (RI) Metra station, one block from IL-50, and 2.4 miles from I-57, offering easy access to Chicago and surrounding suburbs.

ASK ABOUT THIS PROPERTY

Jimmy DonahueEssex Realty Group, LLCMore Info
312-722-7917

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Jimmy DonahueEssex Realty Group, LLCMore Info
312-722-7917

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