Lida lake estates

433 Willis Ave, Rochelle, Illinois 61068

Listing Price:  $7,250,000

Cap Rate 5.64%
Number of Units 72
GRM 8.15
Occupancy 99%
Price/Unit $100694
Price/Gross SF $118.09
Gross SF 61392

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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 approximately 2016 to 2019. 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.

 

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