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Mixed-Use

4425 S Harlem Ave

4425 S Harlem Ave, Stickney, IL 60402

Listing Price: $1,500,000

Cap Rate
5.76%
Number of Units
11
Occupancy
100.0%
Price/Unit
$136,364
Price/Gross SF
$175.32
Gross SF
8,556

Investment Overview

Marcus & Millichap is pleased to present 4425 South Harlem Avenue, an 11-unit mixed-use property located in Stickney, Illinois. The village of Stickney is located approximately eight miles west of Chicago’s Loop and approximately three miles north of Midway International Airport. The subject property is situated along Harlem Avenue, one of the village’s main thoroughfares, providing convenient access to Interstates 290 and 55 and Summit and Harlem Avenue Metra stations. Tenants are within walking distance to the Ottawa Trail Woods, Forest View Park District, Home Elementary School, Stickney-Forest View Library, and numerous Pace bus stops along Harlem Avenue.

The flexicore-constructed property consists of six one-bedroom / one-bathroom units, five office suites and a warehouse garage. The offices are occupied by local service-oriented businesses and one space is currently operating as the owner’s management office. Each office has its own HVAC rooftop unit. The apartment units feature individual water heaters and HVAC systems. One unit has been gut rehabbed with in-unit laundry, dishwasher, vinyl plank flooring, granite countertops, white shaker cabinets, stainless steel appliances and a renovated bathroom. The remaining units contain carpet and tile flooring, laminate countertops, and white kitchen cabinets. Residential tenants are responsible for their own heat and electric. Recent capital improvements include a new tear-off roof, gutters, soffits, facia, HVAC systems, exterior staircases, and fire sprinkler system. On-site amenities include master key entry, common area bathrooms, pylon sign, 14 parking spaces and a heated warehouse garage.

This opportunity allows a new investor the ability to acquire a well-maintained, mixed-use asset located along a high visibility Harlem Avenue location. New ownership can increase cashflow by bringing rents to market through continued unit renovations, implementing a ratio utility billing system (RUBS) for the office tenants and charging additional rent for the warehouse garage.

Investment Highlights

  • High Visibility Mixed-Use Asset Along Harlem Avenue
  • Value-Add | Owner-User Opportunity
  • Recent Capital Improvements
  • Flexicore Construction
  • Individual HVACs | Tenant-Paid Heat
  • Warehouse Garage and 14 Parking Spaces
  • Master Key, Pylon Sign and Sprinkler System
  • Close Proximity to Numerous Modes of Transportation

Exclusively Listed By

Mixed-Use

4425 S Harlem Ave

Listing Price: $1,500,000

Cap Rate
5.76%
Number of Units
11
Occupancy
100.0%
Price/Unit
$136,364
Price/Gross SF
$175.32
Gross SF
8,556

Investment Highlights

  • High Visibility Mixed-Use Asset Along Harlem Avenue
  • Value-Add | Owner-User Opportunity
  • Recent Capital Improvements
  • Flexicore Construction
  • Individual HVACs | Tenant-Paid Heat
  • Warehouse Garage and 14 Parking Spaces
  • Master Key, Pylon Sign and Sprinkler System
  • Close Proximity to Numerous Modes of Transportation

Investment Overview

Marcus & Millichap is pleased to present 4425 South Harlem Avenue, an 11-unit mixed-use property located in Stickney, Illinois. The village of Stickney is located approximately eight miles west of Chicago’s Loop and approximately three miles north of Midway International Airport. The subject property is situated along Harlem Avenue, one of the village’s main thoroughfares, providing convenient access to Interstates 290 and 55 and Summit and Harlem Avenue Metra stations. Tenants are within walking distance to the Ottawa Trail Woods, Forest View Park District, Home Elementary School, Stickney-Forest View Library, and numerous Pace bus stops along Harlem Avenue. The flexicore-constructed property consists of six one-bedroom / one-bathroom units, five office suites and a warehouse garage. The offices are occupied by local service-oriented businesses and one space is currently operating as the owner’s management office. Each office has its own HVAC rooftop unit. The apartment units feature individual water heaters and HVAC systems. One unit has been gut rehabbed with in-unit laundry, dishwasher, vinyl plank flooring, granite countertops, white shaker cabinets, stainless steel appliances and a renovated bathroom. The remaining units contain carpet and tile flooring, laminate countertops, and white kitchen cabinets. Residential tenants are responsible for their own heat and electric. Recent capital improvements include a new tear-off roof, gutters, soffits, facia, HVAC systems, exterior staircases, and fire sprinkler system. On-site amenities include master key entry, common area bathrooms, pylon sign, 14 parking spaces and a heated warehouse garage. This opportunity allows a new investor the ability to acquire a well-maintained, mixed-use asset located along a high visibility Harlem Avenue location. New ownership can increase cashflow by bringing rents to market through continued unit renovations, implementing a ratio utility billing system (RUBS) for the office tenants and charging additional rent for the warehouse garage.

Exclusively Listed By

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