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Multifamily

Fairmont Apartments

717 Fairmont Dr, Bloomington, IL 61704

Listing Price: $2,250,000

Cap Rate
6.73%
Number of Units
35
GRM
8.17
Occupancy
97.0%
Price/Unit
$64,286
Price/Gross SF
$86.97
Gross SF
25,872

Investment Overview

Marcus & Millichap is pleased to present Fairmont Apartments located in Bloomington, Illinois. Fairmont Apartments consists of 28 one-bedroom / one-bathroom townhome units (approximately 741 square feet) and seven two-bedroom / one-bathroom units (approximately 732 square feet). On-site, the property features laundry facilities and surface parking. Select units include private entrances with private balcony/patio. Tenants pay for water, electric and gas which reduce expenses for the landlord. Bloomington is considered the heart of central Illinois and is the county seat of McLean County, the largest county in Illinois. Bloomington sits approximately 125 miles southwest of the city of Chicago, 155 miles northeast of St. Louis, Missouri and 64 miles northeast of Springfield, Illinois, the state capital. Bloomington is the largest of the two municipalities in the Bloomington-Normal metropolitan area and intersected by Interstates 39, 55, 74, US highways 51 and 150 and Illinois State Route 9. The Bloomington-Normal area is serviced by Greyhound buses, Amtrak trains and the Central Illinois Regional Airport. The subject property is a well-located, well-maintained asset on the east side of Bloomington which allows an investor a strong, stable return.

Investment Highlights

  • Well-Maintained Property
  • Off-Street Parking
  • On-Site Laundry
  • Large Units
  • Tenant-Paid Utilities

Exclusively Listed By

  • Eric P. Bell

    Senior Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

Listing Price: $2,250,000

Cap Rate
6.73%
Number of Units
35
GRM
8.17
Occupancy
97.0%
Price/Unit
$64,286
Price/Gross SF
$86.97
Gross SF
25,872

Investment Highlights

  • Well-Maintained Property
  • Off-Street Parking
  • On-Site Laundry
  • Large Units
  • Tenant-Paid Utilities

Investment Overview

Marcus & Millichap is pleased to present Fairmont Apartments located in Bloomington, Illinois. Fairmont Apartments consists of 28 one-bedroom / one-bathroom townhome units (approximately 741 square feet) and seven two-bedroom / one-bathroom units (approximately 732 square feet). On-site, the property features laundry facilities and surface parking. Select units include private entrances with private balcony/patio. Tenants pay for water, electric and gas which reduce expenses for the landlord. Bloomington is considered the heart of central Illinois and is the county seat of McLean County, the largest county in Illinois. Bloomington sits approximately 125 miles southwest of the city of Chicago, 155 miles northeast of St. Louis, Missouri and 64 miles northeast of Springfield, Illinois, the state capital. Bloomington is the largest of the two municipalities in the Bloomington-Normal metropolitan area and intersected by Interstates 39, 55, 74, US highways 51 and 150 and Illinois State Route 9. The Bloomington-Normal area is serviced by Greyhound buses, Amtrak trains and the Central Illinois Regional Airport. The subject property is a well-located, well-maintained asset on the east side of Bloomington which allows an investor a strong, stable return.

Exclusively Listed By

  • Eric P. Bell

    Senior Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

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