13024-13034 Honore

13024-13034 Honore St Blue Island, IL 60406

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property details

Price:              $1,050,000

Units:             14

SF:                  9,722

Built/Reno:  1964 / 2018

Occupancy:                  100%

NOI:                                $75,307

Cap Rate:                       7.17%

Cash-on-Cash:              10.37%

Investment Highlights

  • Fully-Occupied 14-Unit Multifamily Offering
  • 11 of 14 Units Fully Updated Including Granite and Stainless
  • Very Well Maintained and Operated with Good Collection History
  • Upside in Rents Ranging from $50-$150 Per Unit

Investment Overview

Marcus & Millichap is pleased to present to market a well-maintained, fully-occupied, and updated 14-unit multifamily offering in Blue Island, Illinois, a southern suburb of Chicago. The offering consists of an adjacent eight-unit and six-unit multifamily property with a total of eight one-bedroom one-bathroom units and six two-bedroom one-bathroom units.

13024 Honore is a three-story six-unit interior corridor building with four one-bedroom units and two two-bedroom units with a ground-level utility room that houses a central boiler, hot water tank, tenant storage, and shared laundry room between the two buildings. Three of the six units have recently updated kitchens and bathrooms including granite counter-tops. All units are well maintained and in good, rentable condition.

13034 Honore is a two-story California-style building with four spacious two-bedroom one-bathroom end units, two of which have a sought-after balcony or patio and four one-bedroom one-bathroom units each of which has a separate dining area. Each unit has been fully renovated with attractive dark cherry finished cabinetry, granite countertops, stainless appliances, and durable woodgrain luxury vinyl plank flooring.

The property is very well run with an excellent collection history. Each tenant is thoroughly screened and well documented with written lease agreements. There is market-supported upside in rents ranging from $50-$150 per unit; many through simple renewal increases in 11 recently updated units and updating of three units as these long-term tenants units are eventually turned or renewed if they would like updated units at a higher rent. All leases were originally one-year lease terms that are
currently month-to-month to provide a buyer the flexibility to renew or re-tenant at higher rental rates.

The property is located approximately 16 miles south of Chicago’s Loop, minutes from Interstate 57, Blue Island Vermont Street train station, and the Vermont and Division Street bus station.

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Suburbs Outperform Cities as Renters Relocate: Report

PRICE REDUCED!

CALL FOR OFFERS DUE tuesday MAY 5TH, 2021 @ 5Pm

Victorian Apartments

800-834 Victoria Dr. Montgomery, IL 60538

LISTING PRICE: $14,250,000  $13,950,000

Cap Rate 6.13%
Number of Units 152
GRM 8.05
Occupancy 95%
Price/Unit $91776
Price/Gross SF $130.13
Gross SF 107200

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Investment Highlights

  • 152 Unit Suburban Multifamily Property
  • 32 Studios, 72 One-Bedrooms & 48 Two-Bedrooms
  • Clubhouse with Office, Laundry Facilities, Fitness Area, Outdoor Pool, and Courtyard
  • Located in Montgomery Illinois | 40 Miles Southwest of Downtown Chicago
  • Upgraded Kitchens and Baths
  • Tenant Paid Electric Baseboard Heat
  • Value-add component, upside in rents

Map Overview

Investment Overview

Marcus & Millichap is proud to present to market Victorian Apartments, a 152-unit apartment community located in west suburban Montgomery, Illinois bordering Kendall County to the South, the fastest growing county in Illinois, and the City of Aurora, IL to the East, the second-largest city in Illinois.

The subject property is approximately 40 miles southwest of downtown Chicago. Victorian Apartments consists of 16 two and three-story apartment buildings and clubhouse spread out over almost 10 acres; offering 32 large studios, 72 one-bedrooms, and 48 two-bedroom apartment homes. Community amenities include a clubhouse, an on-site management office, laundry facilities, a fitness area, an outdoor pool, a central courtyard area with a playground, and ample off-street parking. Each unit has separately metered, tenant paid, low maintenance, electric baseboard heating, and ac sleeve units. Units have updated kitchens and baths.

 

2003-2017 Broadway St

2003 Broadway St Blue Island, IL 60406

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property details

Price:              $2.15M

Units:             27

SF:                  20,250

Built/Reno:  1970 / 2018

Occupancy:                  100%

NOI:                                $153,076

Cap Rate:                       7.1%

Cash-on-Cash:              13.6%

Investment Highlights

  • Fully Occupied 27-Unit Multifamily Offering
  • Updated Kitchens and Baths, Newer Windows, Roofs and Boilers
  • Very Well Maintained and Operated with Good Collection History
  • Upside in Rents Ranging from $50-$150 Per Unit

Investment Overview

Marcus & Millichap is pleased to present to market a well-maintained and fully occupied 27-unit multifamily offering in Blue Island, Illinois, a southern suburb of Chicago. The property consists of five contiguous five and six-unit apartment buildings with a total of 18 one-bedroom units and nine two-bedroom units.

Each unit has updated kitchens, baths, newer appliances, durable luxury vinyl wood plank flooring, and radiant baseboard heating; some of which are separately metered and tenant-paid. Each three-story brick building offers tenant storage, on-site owned coin-operated laundry, and off-street parking.

Each building has newer energy-efficient vinyl windows and roofs ranging in age from four to ten years and many newer boilers. The parking lot was completely replaced in 2018.

The property is very well run with many longer-term timely paying tenants. Each tenant is thoroughly screened and well documented with written lease agreements. There is market-supported upside in rents ranging from $50-$150 per unit many through simple renewal increases and some with modest unit renovations.

The property is located approximately 16 miles south of Chicago’s Loop just south of the Little Calumet River in a quiet park-like setting across from the forest preserve, but only minutes from Interstate 57, Blue Island Vermont Street train station, and the Vermont and Division Street bus station.

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Value-Add multifamily

11902 Longwood Dr |  Blue Island, IL 60406

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property details

Price:                              $310,000

Units:                              5

SF:                                   2,856

Yr Built:                         1961

Occupancy:                  100%

Gross Inc                       $45,420

Underwritten NOI:      $19,147

Cap Rate/Proforma:    6.18%/8.44%

Investment Highlights

  • Fully Occupied 5-Unit Multifamily Property
  • Long-Term Tenancy, Written Leases, and Strong Collections
  • New Roof, Gutters, Boiler, and Windows
  • Value-Add Opportunity

Investment Overview

Marcus & Millichap is pleased to present to market this fully-occupied, 5-unit value-add multifamily offering in Blue Island, Illinois, a southern suburb of Chicago. The property consists of four one-bedroom one-bath units and one two-bedroom one-bath unit. Amenities include off-street parking, storage units, and on-site laundry.

Recent improvements to the property include a new flat membrane roof, gutters, boiler, and vinyl windows limiting exposure to large capital expenditures and reducing utility costs improving net operating income.

Each unit has an annual written lease with long-term stable tenancy and a history of timely rental payments. As of the drafting of this offering memo, per the landlord, all tenants are current on their rent.

This value-add multifamily offering provides an investor the upside opportunity to increase current below-market rents conservatively $125 per month with modest unit renovations.

The property is located approximately 16 miles south of Chicago’s Loop, two blocks from the 119th Street Metra station, the 119th Street and Vincennes Road bus stop, and two minutes from Interstate 57.

Map Overview

 

 

Surgical Center For Sale

1186 Roosevelt Rd Glen Ellyn, IL 60137

Listing Price: $1,100,000

Square Feet 3805
Acres 1.04
Built/Reno 1983/2009
Occupancy M-M
Type Medical/Surgical

Investment Overview

Marcus & Millichap is proud to present to market this free-standing, fully built-out suburban medical office property. The subject property is approximately 20 miles west of downtown Chicago on busy Roosevelt Road in Glen Ellyn, Illinois, DuPage County, seconds from the Interstate 355 tollway entrance and Interstates 88 and 294 interchanges for easy access by employees and patients.

Situated on a little over one acre, this 3,805-square foot, single-tenant medical office property is well suited for a number of uses including urgent care, surgical, plastic surgery, pain management, and general medical office. The current layout offers a reception and waiting room, two operating rooms, a recovery room, a lab, a clean room, a lead-lined x-ray room, five restrooms (one ADA compliant), two exam rooms, an administrative office, medical record storage, and oxygen storage.

The property is in excellent condition, gut renovated in 2009, a new roof installed in 2017, new HVAC, and a repaved parking lot in 2018. Current ownership performs regular monthly maintenance inspections, repairs, and replacements, as necessary.

The property is currently leased on a month-to-month, one-day-per-week basis to a doctor performing minimally invasive surgical procedures. This tenant is currently paying $22.55 per square foot, full-service gross for this limited use, and would like to continue with the current arrangements, utilizing this one-of-six location for his practice (since September 2019). With this, the tenant could be retained to share the property with an owner-user, another tenant, or for as long as a new investor may want to retain as a long-term full-monthly leased tenant. Market rent for medical/surgical-grade space in this area is conservatively $26 per square foot, triple-net, performing at a healthy nine percent proforma cap rate.

Investment Highlights

  • Excellent DuPage County Location on Busy Roosevelt Road Seconds from Interstate 355
  • Free-Standing, Single-Tenant Fully Built-Out Medical Office / Surgical Facility
  • Ideal for Urgent Care, Surgical and Medical Office Use
  • In-place Month-to-Month Surgical Tenant
  • Gut Renovation 2009, New Roof, Parking Lot and HVAC Done in 2017 and 2018
  • Ideal Owner-Occupied, Investment or Redevelopment Opportunity

Map Overview

price reduced!

Lida lake estates

433 Willis Ave, Rochelle, Illinois 61068

Listing Price:  $7,250,000 $6,950,000

Cap Rate 5.88%
Number of Units 72
Cash on Cash 6.87%
Occupancy 97.5%
Price/Unit $96528
Price/Gross SF $113.21
NOI $408979

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Investment Highlights

  • Renovated Exterior and Apartments
  • Balconies / Patios, Laundry Rooms, and Individual Garages
  • Private Entrances
  • 1994 Construction/Renovated 2018
  • One, Two, and Three-Bedroom Units
  • Tenant-Paid Heat

Map Overview

Investment Overview

Marcus & Millichap is pleased to present Lida Lake Estates, a 72-unit apartment community constructed in 1994 and renovated in 2018. Lida Lake Estates is located in Rochelle, Illinois, and sits on five acres with ample green space and parking for tenant enjoyment. This property consists of three 24-unit, two-story buildings with a unit mix of 12 one-bedroom / one-bathroom apartments, 48 two-bedroom / one-bathroom apartments, and 12 three-bedroom / two-bathroom apartments. The property offers well-finished spacious units with stainless appliances, cherry cabinets, and eat-in dining areas.

Rochelle, Illinois is located between Route 251 and Interstate 88 and near Interstate 39 approximately 80 miles west of Chicago’s loop. Located between DeKalb and Dixon, this property offers quiet and clean apartments with spacious layouts.

Here, an investor has an opportunity to step into a high occupancy, recently renovated, and turn-key property.

 

park place of Wheaton

100 West Roosevelt Rd Wheaton, IL 60189

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property details

Price:             $1.55M

Cap Rate:     14% (Pro Forma)

Occupancy:  35%

SF:                   23,864

Price/SF         $64.95

Investment Highlights

  • Superb Roosevelt Rd & South Main St Corner Location Downtown Wheaton
  • Wholly Owned Eight Unit Office Condo Property, No Association
  • Separately Controlled HVAC for Each Unit, New Roofs 2014
  • Competitively Price with Substantial Upside
  • High Visibility Corner Location with Access from Roosevelt Rd & South Main St
  • Good Tenant Mix of Doctors, Dentists, Chiropractors, and Attorneys

Investment Overview

Marcus & Millichap is proud to present Park Place of Wheaton, a wholly-owned eight-unit office condo property, superbly located on highly-visible West Roosevelt Road and South Main Street in downtown Wheaton, Illinois in DuPage County. Each 2,983-square foot unit has a private entrance with separately metered and controlled tenant-paid HVAC, well finished for professional office and medical office users. The current tenant mix is a complement of established doctors, dentists, chiropractors, and attorneys.

The property is competitively priced at $65 per square foot, less than one-third of construction costs. This offering provides an investor with considerable upside, conservatively underwritten at an average market occupancy rate of 80 percent with rental rates of $19 per square foot modified gross.  Engaging professional leasing and management will facilitate achieving this performance offering an investor the potential for a near 14 percent pro forma cap rate. 

Demographic trends have substantially increased demand for this well-located suburban office property. This property offers an investor a lucrative opportunity to offer quality office space in this vibrant growing central Dupage County market. Wheaton is bordered by Naperville to the south, Glen Ellyn to the east, Warrenville to the west, and Carol Stream and Glendale Heights to the north.

The subject property is located in Wheaton, Illinois, approximately 25 miles west of Chicago on busy Roosevelt Road averaging 31,300 cars per day. Wheaton is the county seat for DuPage County, home of Wheaton College, which is sometimes referred to as “The Harvard of Evangelical schools,” as well as home to the College of Dupage. This location also offers convenient access to transportation with bus routes along Roosevelt Road, walking distance to the Wheaton Metra Train station, and minutes from the Interstate 355 tollway.

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2149-2151 W 119th St Blue Island, IL 

 SOLD!

Investment Highlights

  • Fully Occupied Ten Unit Multifamily Offering
  • Value-Add Investment Opportunity, Below Market Rents
  • Month-to-Month Lease Offering Flexibility to Renew, Re-let, Renovate
  • Off-Street Parking, Storage and Laundry Facility

Map Overview

 

Investment Overview

Marcus and Millichap is pleased to present to market this fully occupied 10-unit value-add multifamily offering in Blue Island, Illinois, a southern suburb of Chicago. The property consists of two adjacent 5-unit brick apartment buildings each containing four one-bedroom units and one two-bedroom unit. Amenities include off-street parking, storage units, and on-site laundry in each building.

Each unit has written month-to-month leases offering the flexibility to retain these tenants, renew or renovate and release at higher market rents as each unit is approximately $150 below current market rent for the area.

The property is located approximately 16 miles south of Chicago’s Loop two blocks from the 119th St Metra Station, 119th Street & Vincennes Bus Stop, and two-minutes from Interstate 57.

 

 

301 S Ottawa St Joliet, IL 60436

Listing Price: $450,000

Cap Rate 9.25%
Number of Units 6
GRM 7.51
Occupancy 100%
Price/Unit $75000
Price/Gross SF $102.27
Gross SF 4400

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Investment Highlights

  • Fully-Occupied, Five-Unit Multifamily Property and Commercial Unit (Salon)
  • New Roof, Electrical Service, Gas Service, Furnace, and Hot Water Tank
  • Renovated Units, Exterior Paint, and Off-Street Parking Lot Replacement
  • Low Property Taxes and Tenant Paid Gas Heat
  • Located in Joliet, the Fourth-Largest City in Illinois
  • Unit Mix of Studio, One-Bedrooms, Two-Bedroom, Three-Bedroom and a Commercial Unit

Map Overview

Investment Overview

Marcus & Millichap is proud to present to market two adjacent, fully-occupied buildings on one parcel, consisting of five multifamily units plus a commercial unit (salon). Each tenant pays separately metered gas heat; combined with low taxes and current market rents provides a healthy return for a smaller investment property.​ A number of very recent capital improvements have been completed including, but not limited to new roofs, upgraded electrical service, gas service, one of two new furnaces and hot water tanks, exterior painting, and off-street parking lot replacement.​ The unit mix consists of one studio, two one-bedrooms, one two-bedroom, one three-bedroom, and one small recently renovated commercial space occupied by a salon.​ Each unit has been partial to fully renovated, is on an annual written lease agreement, and current on their rents as of the drafting of this offering memorandum.​ The property is situated in Joliet, Illinois, approximately 30 miles southwest of Chicago.​ The property is just south of central downtown Jolie t with convenient access to public transportation, local shopping, and public services.​ Jolie t is the county seat of Will County and is the fourth-largest city in Illinois.​ The largest employers in the area include Amazon, AMITA Health Saint Joseph Medical Center, and Will County.​

 

1642 Country Lakes Dr. Naperville, IL 60563

Listing Price: $899,000

Number of Units 4
Occupancy 100%
Cap Rate 6%
NOI $54448

Investment Highlights

  • Fully Occupied 4 Unit Building 
  • Desirable Naperville Address
  • Investor or Owner-Occupied Opportunity
  • All Separately Metered Tenant Paid Utilities
  • In-Unit Washers & Dryers
  • Attached One- Car Garages
  • Development Potential 

Map Overview

Investment Overview

A rare find fully occupied 4-unit apartment building for sale in desirable Naperville, IL recently rated one of the best and safest cities to raise children. This property is ideal for the multifamily investor seeking an affluent stable market like Naperville with upside in rents upgrading units, a developer with the area to potentially build another 4-unit building or an investor homeowner that would like to live in one unit for low housing costs collecting rents. Conveniently located on the Northside of Naperville seconds from I-88 E-W Tollway, minutes from the Route 59 Metra train station, and the Fox Valley Shopping District. Each two-bedroom one and a half bath unit has all separately metered tenant-paid gas, electric, water, sewer, and trash utilities. Amenities for each unit include dishwashers, in-unit-owned washer and dryers, central air, and a one-car garage. Three of four units have full basements two of which are finished. Recent improvements include new windows, furnaces, hot water tanks, and all but one air conditioning unit replaced in the past 3-4 years.

 

 

Listing Broker: Shamshad Sanaullah HomeSmart Realty Group 651 N Washington st, Naperville, IL 60563 630-940-7011 (cell) Email:[email protected]