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Multifamily

Heritage Green

50-60 S Shaddle Ave, Mundelein, IL 60060

Listing Price: $7,750,000

Cap Rate
5.26%
Number of Units
72
Occupancy
90.9%
Price/Unit
$107,639
Price/Gross SF
$134.63
Gross SF
57,564

Investment Overview

Marcus & Millichap is pleased to present for sale the exclusively listed Heritage Green Apartments located at 50-60 S. Shaddle Ave. in Mundelein, Illinois in Lake County. The apartment complex sits on 6.37 acres and it is zoned as R-5, Multi-Family Residential District, and was built in 1987. The property consists of two 36 unit, two and half story garden style walk-up buildings. The unit mix consists of six one-bed/one-bath units (approx. 650 SF), 42 one-bed/one-bath units (approx. 720 SF) and 24 two-bed/one-bath units (approx. 976 SF) All units feature electric dishwashers, electric stoves, electric water heaters, electric thru-the wall heating /air conditioners, and two door upright refrigerators. Parking is on site in the large parking area located between the two buildings with approx. 140 parking spaces. Each 36 unit building has three entry canopied vestibule areas. Each entry is for 12 units. Each 12 units has its own laundry room consisting of leased equipment of two washers/ two electric dryers, 12 mail boxes and electric room with electric meters for each unit. Presently ownership pays for water/sewer. The property has seen some major capital improvements. Two roof replacements - one in 2020 and the other around 2014, newer windows and doors and 38 updated kitchens and bathrooms plus 21 partially rehabbed units.

Investment Highlights

  • Central Lake County, Illinois
  • All Tenant Paid Electric - Heat & AC
  • Roofs Replaced - 2020 & 2014 (approx.)
  • 38 Units - Full Rehab, 21 Units Partial Rehab.

Exclusively Listed By

  • David B. Tarnoff

    First Vice President Investments

    (312) 624-7017

    Email David

    License(s): IL: 471.009921, WI: 50698-94, IN: RB14050851

    Chicago Downtown

Financing By

Listing Price: $7,750,000

Cap Rate
5.26%
Number of Units
72
Occupancy
90.9%
Price/Unit
$107,639
Price/Gross SF
$134.63
Gross SF
57,564

Investment Highlights

  • Central Lake County, Illinois
  • All Tenant Paid Electric - Heat & AC
  • Roofs Replaced - 2020 & 2014 (approx.)
  • 38 Units - Full Rehab, 21 Units Partial Rehab.

Investment Overview

Marcus & Millichap is pleased to present for sale the exclusively listed Heritage Green Apartments located at 50-60 S. Shaddle Ave. in Mundelein, Illinois in Lake County. The apartment complex sits on 6.37 acres and it is zoned as R-5, Multi-Family Residential District, and was built in 1987. The property consists of two 36 unit, two and half story garden style walk-up buildings. The unit mix consists of six one-bed/one-bath units (approx. 650 SF), 42 one-bed/one-bath units (approx. 720 SF) and 24 two-bed/one-bath units (approx. 976 SF) All units feature electric dishwashers, electric stoves, electric water heaters, electric thru-the wall heating /air conditioners, and two door upright refrigerators. Parking is on site in the large parking area located between the two buildings with approx. 140 parking spaces. Each 36 unit building has three entry canopied vestibule areas. Each entry is for 12 units. Each 12 units has its own laundry room consisting of leased equipment of two washers/ two electric dryers, 12 mail boxes and electric room with electric meters for each unit. Presently ownership pays for water/sewer. The property has seen some major capital improvements. Two roof replacements - one in 2020 and the other around 2014, newer windows and doors and 38 updated kitchens and bathrooms plus 21 partially rehabbed units.

Exclusively Listed By

  • David B. Tarnoff

    First Vice President Investments

    (312) 624-7017

    Email David

    License(s): IL: 471.009921, WI: 50698-94, IN: RB14050851

    Chicago Downtown

Financing By

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