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Multifamily

9231-9235 Irving Park Rd

9231-9235 Irving Park Rd, Schiller Park, IL 60176

Listing Price: $1,990,000

Cap Rate
6.25%
Number of Units
12
GRM
10.59
Price/Unit
$165,833
Price/Gross SF
$226.14
Gross SF
8,800

Investment Overview

Marcus & Millichap is pleased to present this 12-unit apartment property, located at 9231-9235 Irving Park Road in Schiller Park, Illinois.

Built in 1971, the building is comprised of six one-bedroom / one-bathroom units, each averaging approximately 683 square feet, and six two-bedroom / one-bathroom units, averaging approximately 783 square feet each. The building features ample off-street parking, on-site laundry facilities, and moderately updated apartments with various kitchen and bathroom upgrades.

This investment offers an investor a value-add opportunity to acquire a well-maintained asset in a high growth area that has been owned by a long-term owner for over 20 years.

Investment Highlights

  • Desirable Unit Mix of One-Bedroom and Two-Bedroom Units
  • Ample Off-Street Parking - 20 Spaces, On-Site Laundry Facility for Both Buildings, and Moderately Updated Apartments with Various Kitchen and Bathroom Upgrades
  • Well-Maintained Asset, Located in a High Growth Area, and Owned by a Long-Term Owner for Over 20 Years
  • Easy Access to Interstate 294 and Route 19, One and One-Half Miles to Schiller Park Metra Station and Walking Distance to PACE Bus Stop
  • Three Miles from O'Hare International Airport, Which Employs Over 54,000 Employees and Serves 73.9 Million Travelers Annually
  • Close Proximity to Fashion Outlets of Chicago and Schiller Park Plaza
  • Near Schiller Park Public Library, Schiller Woods, Lincoln Middle School and John F. Kennedy Elementary School
  • Average Household Income within Three Mile is $92,072

Exclusively Listed By

Multifamily

9231-9235 Irving Park Rd

Listing Price: $1,990,000

Cap Rate
6.25%
Number of Units
12
GRM
10.59
Price/Unit
$165,833
Price/Gross SF
$226.14
Gross SF
8,800

Investment Highlights

  • Desirable Unit Mix of One-Bedroom and Two-Bedroom Units
  • Ample Off-Street Parking - 20 Spaces, On-Site Laundry Facility for Both Buildings, and Moderately Updated Apartments with Various Kitchen and Bathroom Upgrades
  • Well-Maintained Asset, Located in a High Growth Area, and Owned by a Long-Term Owner for Over 20 Years
  • Easy Access to Interstate 294 and Route 19, One and One-Half Miles to Schiller Park Metra Station and Walking Distance to PACE Bus Stop
  • Three Miles from O'Hare International Airport, Which Employs Over 54,000 Employees and Serves 73.9 Million Travelers Annually
  • Close Proximity to Fashion Outlets of Chicago and Schiller Park Plaza
  • Near Schiller Park Public Library, Schiller Woods, Lincoln Middle School and John F. Kennedy Elementary School
  • Average Household Income within Three Mile is $92,072

Investment Overview

Marcus & Millichap is pleased to present this 12-unit apartment property, located at 9231-9235 Irving Park Road in Schiller Park, Illinois. Built in 1971, the building is comprised of six one-bedroom / one-bathroom units, each averaging approximately 683 square feet, and six two-bedroom / one-bathroom units, averaging approximately 783 square feet each. The building features ample off-street parking, on-site laundry facilities, and moderately updated apartments with various kitchen and bathroom upgrades. This investment offers an investor a value-add opportunity to acquire a well-maintained asset in a high growth area that has been owned by a long-term owner for over 20 years.

Exclusively Listed By

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