Investment Overview

Marcus & Millichap is pleased to present an 85-unit apartment portfolio located in Oak Park, Illinois. Oak Park is approximately 10 miles from Chicago’s downtown Loop and is one of the most sought-after suburbs for homeowners and renters. Oak Park’s unique mix of diversity, community, world-famous architecture, upscale neighborhoods and commerce make it an ideal location to own rental property. The subject property is located approximately one-half mile to the CTA Green Line Ridgeland station and approximately one mile to the CTA Blue Line Oak Park station. Additionally, the property is located approximately one mile to Interstate 290. 213-219 Washington Boulevard consists of 23 one-bedroom / one-bathroom units (approximately 900 square feet) and 12 two-bedroom / one-bathroom units (approximately 1,100 square feet). Units feature fully equipped kitchens with a dishwasher, hardwood floors, upgraded bathrooms, and modern fixtures. Amenities include coin-operated laundry and designated village and local parking for additional monthly fees. 221-229 Washington Boulevard consists of 27 one-bedroom / one-bathroom units (approximately 900 square feet) and eight two-bedroom / one-bathroom units (approximately 1,100 square feet). There is one non-conforming garden unit. Approximately sixty percent of the units have been renovated and include stainless-steel appliances, quartz countertops, new cabinetry, and in-unit washer and dryer. There is also individual HVAC for heat and central air for the renovated units. 228-230 Washington Boulevard consists of six one-bedroom / one-bathroom units (approximately 850 square feet) and seven two-bedroom / one-bathroom units (approximately 1,000 square feet). Units feature select renovation including upgraded kitchens and bathrooms. 428 South Harvey consists of one two-bedroom / one-bathroom unit (approximately 1,100 square feet) and one five-bedroom / two-bathroom duplex unit (approximately 2,158 square feet). Both units have been renovated and are currently utilized as short term rentals. On-site there are six income generating garage spaces and 15 income generating surface parking spaces. This investment is an opportunity for a new investor to acquire a well-maintained and partially renovated multifamily portfolio in Oak Park, Illinois. This desirable rental market allows an investor the potential to achieve consistent cash flows and returns.