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.

Multifamily for sale

309 Ash Ct
DeKalb, IL 60115

Listing Price: $339,000

Cap Rate 6.2%
Number of Units 4
GRM 8.20
Occupancy 100%
Price/Unit $84750
Price/Gross SF $84.75
Gross SF 4000

View Offering Memo

Investment Highlights

  • Four spacious two bedroom one bath units
  • Very well maintained updated property
  • Tenant paid electric baseboard heat
  • Residential owner-occupied investment potential
  • Stable non-student residential neighborhood
  • Under market rents

Investment Overview

Marcus & Millichap is pleased to present to market this very well-maintained and upgraded four-unit multi-family property in DeKalb, Illinois. This investment offering provides upside in rental income. Each spacious two-bedroom / one-bathroom unit has separately metered tenant-paid electric baseboard heat and landlord owned new sleeve air-conditioning units and ceiling fans. The layout of each unit is a very rentable, tenant favored, open concept living room, and dining area; and kitchen appointed with newer matching glass top stoves, refrigerators, and dishwashers. Amenities include a separate four-car garage and one off-street parking space, one set of newer landlord-owned coin-operated commercial washer and dryer, secure entry, recently finished interior hallway entrances, rear decks (upper units), and landscaped yard area. DeKalb, home of Northern Illinois University, Illinois third-largest
campus is approximately 55 miles west of Chicago. Other large employers include Northwestern Medicine, Nestle, Target, 3M, Panduit, Ferrara Pan Candy Co. and soon to be Facebook building, an $800 million data center in DeKalb.