Investment Overview

Marcus & Millichap is pleased to present a four-property, 22-unit portfolio located at 415 West Jefferson Street in Gardner, Illinois. Gardner is a growing community approximately 60 miles southwest of downtown Chicago. This location provides strong connectivity to employment hubs while maintaining a desirable suburban setting. The subject property is conveniently located near major roadways including Interstate 55 and Illinois Route 47, as well as an Amtrak Station located approximately 10 miles to the subject property. The portfolio consists of four buildings including a 12-unit building, two four-unit buildings, and a two-unit currently rented as a single family home. Units feature standard finishes including wood cabinets, a mix of stainless-steel and white appliances, tile and laminate flooring, and select upgrades to the bathrooms. Tenants are responsible for paying heat (electric baseboard). The landlord currently pays the water for each unit however the units are separately metered. A new owner could potentially alleviate water expense by charging tenants individually for water use. There is also potential upside in rent through unit renovations creating a pathway to increased cash flow. The buildings also have newer roofs which are approximately three years old. This offering provides a new owner with the opportunity to acquire a stable portfolio with high historical occupancy and rental upside. Through unit renovations and bringing rents to market, new ownership can achieve double digit cash-on-cash returns.