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Multifamily

420 West Washington Avenue

420 W Washington Ave, Lake Bluff, IL 60044

Listing Price: $1,395,000

Cap Rate
6.04%
Number of Units
12
GRM
10.05
Occupancy
95.0%
Price/Unit
$116,250
Price/Gross SF
$166.07
Gross SF
8,400

Investment Overview

Marcus & Millichap is pleased to present this 12-unit apartment property, built in 1960, located at 420 West Washington Avenue in Lake Bluff, Illinois. Lake Bluff is a village in Lake County and is located approximately 35 miles northwest of the downtown Chicago Loop. The area provides convenient access to Route 41, Route 176, and Interstate 94. Public transportation is readily available at the Lake Bluff Metra station, located approximately one and one-half miles directly east of the property. For domestic and international travel purposes, O'Hare International Airport is located 25 miles south of the asset.

The unit mix is comprised of eight one-bedroom / one-bathroom units and four two-bedroom / two-bathroom units, measuring approximately 550 and 1,000 square feet, respectively. The building features one fully renovated unit, a newer water heater, five newer heater and AC units, and recently replaced first floor windows. The property also features an on-site laundry facility and ample off-street parking.

The building is visible from Skokie Highway, with an average traffic count of approximately 39,500 vehicles per day. Positioned near the Skokie Highway / Route 41 and Rockland Road / Route 176 intersection, the property is within walking distance of the local Target, CVS, Panera Bread, Chipotle, McDonald's, and Dunkin, among other nearby retail and dining options. Lake Bluff Golf Club and Knollwood Golf Club are within one mile of the property. The area is also surrounded by numerous schools and recreational parks. This investment offers an investor the opportunity to acquire a well-maintained asset in a high-visibility, affluent Lake Bluff location.

Investment Highlights

  • Numerous Recent Capital Improvements
  • On-Site Laundry Facility
  • Ample Off-Street Parking
  • High Visibility Location
  • Easy Access to Multiple Modes of Transportation
  • Close Proximity to Retail and Dining Options

Exclusively Listed By

Listing Price: $1,395,000

Cap Rate
6.04%
Number of Units
12
GRM
10.05
Occupancy
95.0%
Price/Unit
$116,250
Price/Gross SF
$166.07
Gross SF
8,400

Investment Highlights

  • Numerous Recent Capital Improvements
  • On-Site Laundry Facility
  • Ample Off-Street Parking
  • High Visibility Location
  • Easy Access to Multiple Modes of Transportation
  • Close Proximity to Retail and Dining Options

Investment Overview

Marcus & Millichap is pleased to present this 12-unit apartment property, built in 1960, located at 420 West Washington Avenue in Lake Bluff, Illinois. Lake Bluff is a village in Lake County and is located approximately 35 miles northwest of the downtown Chicago Loop. The area provides convenient access to Route 41, Route 176, and Interstate 94. Public transportation is readily available at the Lake Bluff Metra station, located approximately one and one-half miles directly east of the property. For domestic and international travel purposes, O'Hare International Airport is located 25 miles south of the asset.

The unit mix is comprised of eight one-bedroom / one-bathroom units and four two-bedroom / two-bathroom units, measuring approximately 550 and 1,000 square feet, respectively. The building features one fully renovated unit, a newer water heater, five newer heater and AC units, and recently replaced first floor windows. The property also features an on-site laundry facility and ample off-street parking.

The building is visible from Skokie Highway, with an average traffic count of approximately 39,500 vehicles per day. Positioned near the Skokie Highway / Route 41 and Rockland Road / Route 176 intersection, the property is within walking distance of the local Target, CVS, Panera Bread, Chipotle, McDonald's, and Dunkin, among other nearby retail and dining options. Lake Bluff Golf Club and Knollwood Golf Club are within one mile of the property. The area is also surrounded by numerous schools and recreational parks. This investment offers an investor the opportunity to acquire a well-maintained asset in a high-visibility, affluent Lake Bluff location.

Exclusively Listed By

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