Skip to main content

Multifamily

Sherwood Forest Apartments

1100 W Jeffery St, Kankakee, IL 60901

Listing Price: $5,500,000

Cap Rate
7.60%
Number of Units
80
Price/Unit
$68,750
Price/Gross SF
$71.76
Gross SF
76,640

Investment Overview

Marcus & Millichap is pleased to present the Sherwood Forest Apartments, an 80-unit garden style apartment complex on five acres directly adjacent to the Kankakee High School in Kankakee, IL. The unit mix is composed of 12 three-bedroom/two-bath apartments, 56 two-bedroom/two-bath apartments and 12 one-bedroom/one-bath apartments. There are approximately 135 on-site parking spaces. The property was constructed in the mid-60s and has been well maintained during current ownership. The apartments are large and bright, with ample closet space, and an open floor plan. Each unit has thermostatic controls and is equipped with an in-unit forced air furnace, cooled with central air, and individual water heaters. Tenants pay for heat, air-conditioning and hot water. All units are electric with 100 AMP circuit breaker panels. The property offers spacious common grounds, on-site, secured laundry room, low-flow plumbing fixtures, all copper plumbing and electric and LED common lighting. Recent capital improvements include all new windows, LP weather resistant siding, an on-site camera surveillance system and a master lock system. Sherwood Forest is fully occupied and in-demand due to its close proximity to Kankakee High School, spacious units and its quiet neighborhood setting. The Sherwood Forest Apartments is a terrific opportunity for an investor to cash-flow from day one with upside achieved by updating units and increasing rents.

Investment Highlights

  • Excellent, In-Demand Location
  • 80 Rent-Ready, Spacious Apartments
  • Recent Capital Improvements
  • Stable, Fully-Occupied
  • Upside Potential
  • Tenants Pay Utilities

Exclusively Listed By

Multifamily

Sherwood Forest Apartments

Listing Price: $5,500,000

Cap Rate
7.60%
Number of Units
80
Price/Unit
$68,750
Price/Gross SF
$71.76
Gross SF
76,640

Investment Highlights

  • Excellent, In-Demand Location
  • 80 Rent-Ready, Spacious Apartments
  • Recent Capital Improvements
  • Stable, Fully-Occupied
  • Upside Potential
  • Tenants Pay Utilities

Investment Overview

Marcus & Millichap is pleased to present the Sherwood Forest Apartments, an 80-unit garden style apartment complex on five acres directly adjacent to the Kankakee High School in Kankakee, IL. The unit mix is composed of 12 three-bedroom/two-bath apartments, 56 two-bedroom/two-bath apartments and 12 one-bedroom/one-bath apartments. There are approximately 135 on-site parking spaces. The property was constructed in the mid-60s and has been well maintained during current ownership. The apartments are large and bright, with ample closet space, and an open floor plan. Each unit has thermostatic controls and is equipped with an in-unit forced air furnace, cooled with central air, and individual water heaters. Tenants pay for heat, air-conditioning and hot water. All units are electric with 100 AMP circuit breaker panels. The property offers spacious common grounds, on-site, secured laundry room, low-flow plumbing fixtures, all copper plumbing and electric and LED common lighting. Recent capital improvements include all new windows, LP weather resistant siding, an on-site camera surveillance system and a master lock system. Sherwood Forest is fully occupied and in-demand due to its close proximity to Kankakee High School, spacious units and its quiet neighborhood setting. The Sherwood Forest Apartments is a terrific opportunity for an investor to cash-flow from day one with upside achieved by updating units and increasing rents.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower