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Multifamily

Midlothian Portfolio

3625 147th St, Midlothian, IL 60445

Listing Price: $3,866,667

Cap Rate
7.82%
Number of Units
48
Occupancy
100.0%
Price/Unit
$80,556
Price/Gross SF
$104.16
Gross SF
37,124

Investment Overview

Marcus & Millichap is pleased to present the Midlothian Portfolio, a 48-unit investment opportunity, located in Midlothian, Illinois. The portfolio is comprised of eight, six-unit buildings grouped in two locations, 147th Street and Keystone Avenue, which are within a half mile radius of one another. The 147th Street site includes 3625 147th Street, 3635 147th Street, 3626 147th Place, 3632 147th Place and 3638 147th Place. The Keystone Avenue site includes 14618 Keystone Avenue, 14619 Keystone Avenue, and 14643 Keystone Avenue. The unit mix consists of eight one-bedroom / one-bathroom units (approximately 600 square feet) and 40 two-bedroom / one-bathroom units (approximately 750 square feet). Many of the units have been renovated with hardwood and vinyl plank flooring, cherry and white shaker kitchen cabinets, formica countertops, bathroom vanities (in select units) and shower tiling. Within the last three years, the buildings have received numerous capital improvements including roofs, boilers water heaters, windows and re-paved parking lots. Each building features on-site laundry facilities, individual storage lockers and private parking lots. The subject properties are located within a half mile from the Midlothian police departments, town hall, Midlothian Metra station (Rock Island District Line) and numerous schools including, Springfield and Central Park Elementary, Spaulding School and Bremen Community High School. Tenants enjoy convenient access to numerous bike trails, parks, shopping centers and public transportation. Midlothian is a southwest suburb of Cook County, home to approximately 14,346 residents. Situated approximately 20 miles southwest of downtown Chicago and approximately 12 and one-half miles south of Midway International Airport, the suburb provides convenient access to Interstates 57, 80, 94 and 294, making the village a prime location for residential and commercial purposes. The opportunity allows an investor the ability to purchase a portfolio of eight well-maintained properties located within a half mile radius.

Investment Highlights

  • Eight Building Portfolio Within a Half Mile Radius
  • Ideal Unit Mix of Mainly Two-Bedroom Units
  • Recent Capital Improvements and Unit Renovations
  • Close Proximity to Retail, Dining and Transportation
  • Private Parking Lots, On-Site Laundry and Storage Lockers

Exclusively Listed By

Listing Price: $3,866,667

Cap Rate
7.82%
Number of Units
48
Occupancy
100.0%
Price/Unit
$80,556
Price/Gross SF
$104.16
Gross SF
37,124

Investment Highlights

  • Eight Building Portfolio Within a Half Mile Radius
  • Ideal Unit Mix of Mainly Two-Bedroom Units
  • Recent Capital Improvements and Unit Renovations
  • Close Proximity to Retail, Dining and Transportation
  • Private Parking Lots, On-Site Laundry and Storage Lockers

Investment Overview

Marcus & Millichap is pleased to present the Midlothian Portfolio, a 48-unit investment opportunity, located in Midlothian, Illinois. The portfolio is comprised of eight, six-unit buildings grouped in two locations, 147th Street and Keystone Avenue, which are within a half mile radius of one another. The 147th Street site includes 3625 147th Street, 3635 147th Street, 3626 147th Place, 3632 147th Place and 3638 147th Place. The Keystone Avenue site includes 14618 Keystone Avenue, 14619 Keystone Avenue, and 14643 Keystone Avenue. The unit mix consists of eight one-bedroom / one-bathroom units (approximately 600 square feet) and 40 two-bedroom / one-bathroom units (approximately 750 square feet). Many of the units have been renovated with hardwood and vinyl plank flooring, cherry and white shaker kitchen cabinets, formica countertops, bathroom vanities (in select units) and shower tiling. Within the last three years, the buildings have received numerous capital improvements including roofs, boilers water heaters, windows and re-paved parking lots. Each building features on-site laundry facilities, individual storage lockers and private parking lots. The subject properties are located within a half mile from the Midlothian police departments, town hall, Midlothian Metra station (Rock Island District Line) and numerous schools including, Springfield and Central Park Elementary, Spaulding School and Bremen Community High School. Tenants enjoy convenient access to numerous bike trails, parks, shopping centers and public transportation. Midlothian is a southwest suburb of Cook County, home to approximately 14,346 residents. Situated approximately 20 miles southwest of downtown Chicago and approximately 12 and one-half miles south of Midway International Airport, the suburb provides convenient access to Interstates 57, 80, 94 and 294, making the village a prime location for residential and commercial purposes. The opportunity allows an investor the ability to purchase a portfolio of eight well-maintained properties located within a half mile radius.

Exclusively Listed By

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