Midwest Apartment Market Should See Solid Performance in 2019

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
(630) 570-2246
Randolph Taylor

Latest posts by Randolph Taylor (see all)

 

Rising interest rates, a possible slowdown in new construction likely to keep apartment occupancies stable and rents growing.

Continue reading “Midwest Apartment Market Should See Solid Performance in 2019”

Healthy 2019 Projected for Multifamily Investment

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
(630) 570-2246
Randolph Taylor

Latest posts by Randolph Taylor (see all)

 

Investors should be keen on apartment assets due to strong fundamentals, opportunities for both buyers and sellers, and an abundance of capital

Continue reading “Healthy 2019 Projected for Multifamily Investment”

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
(630) 570-2246
Randolph Taylor

Latest posts by Randolph Taylor (see all)

Multifamily For Sale

1900 Broadway St
Blue Island, IL 60406


TYPE Multifamily
PRICE $5.7M
UNITS 84
BUILDINGS 7
BUILT/RENO 1973/2016
OCCUPANCY 97.3%
CAP RATE CURRENT/YR 1 8.34% / 9.81%
CASH-ON-CASH CURRENT/YR 1 15.67% / 23.02%

 Highlights


  • Condo Quality Construction
  • All 2-Bed / 1-Bath Units with Dining Room
  • 90 Percent Updated Units
  • Tenant Paid Electric Baseboard Heating & HW
  • Very Well-Maintained / Long-Term Ownership

Description


Marcus & Millichap is pleased to present for sale Islander Apartments, an 84-unit apartment community in Blue Island, Illinois, a southern suburb of Chicago. The property consists of seven contiguous 12-unit apartment buildings each containing above grade condo quality two-bedroom / one-bathroom units with dining rooms and tenant paid electric baseboard heating. Ninety percent of the units have been updated and there are newer windows, roofs and a resurfaced parking lot.

The property has been under the same ownership and professionally managed for the past 16 years. It has been well-maintained and enjoyed high occupancy currently, at 97.3 percent. Twenty-four of the 84 units are rented under the Housing Choice Voucher program, but there are no requirements to participate in the program going forward and the property may be operated as a full-market rate apartment community. There is current on-site management that can assist with a smooth transition to new ownership but there are no management contractual obligations or association.

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.

Map Overview


 

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Want to sell my Multifamily Property what do I invest in - Surging Economy Boos Retail Sector

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
(630) 570-2246
Randolph Taylor

Latest posts by Randolph Taylor (see all)

Apartment rents are suddenly rising faster, reversing yearlong trend

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
(630) 570-2246
Randolph Taylor

Latest posts by Randolph Taylor (see all)

Suburban apartment market still strong, but slowing down

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
(630) 570-2246
Randolph Taylor

Latest posts by Randolph Taylor (see all)

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
(630) 570-2246
Randolph Taylor

Latest posts by Randolph Taylor (see all)

Multifamily For Sale

109 S Whispering Hills Dr
Naperville, IL 60540


TYPE Multifamily
SF 3700
Units 4
BUILT1980
ACRES 0.18
Parking 8 Off-street
OCCUPANCY100%
GROSS INCOME $51600
NOI $36062
CAP RATE 6.74%
PRICE $535000
Continue reading “Apartment Building For Sale 109 S Whispering Hills Dr Naperville IL 60540”
Apartment Housing Demand Remains Strong; Investors Pursue Yield to Broader Range of Markets

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
(630) 570-2246
Randolph Taylor

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Class B and Class C Apartments Poised for Gains

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
(630) 570-2246
Randolph Taylor

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Apartment Demand Paces Elevated Construction

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
(630) 570-2246
Randolph Taylor

Latest posts by Randolph Taylor (see all)