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Multifamily

Addison Apartments

550 N Mill Rd, Addison, IL 60101

Listing Price: $4,900,000

Cap Rate
5.29%
Number of Units
40
Price/Unit
$122,500
Price/Gross SF
$99.28
Gross SF
49,356

Investment Overview

Marcus & Millichap is pleased to offer the Addison Apartments. Addison Apartments is a 40-unit property composed of one brick masonry-built building in a community style environment located in Addison, Illinois. Addison Apartments sits on over 2.49 acres of land and has a healthy mix of 10 one-bedroom and 30 two-bedroom units each with private entrances. The one two-story building was built in 1968 and has been upgraded throughout ownership.

Investment Highlights

  • New Roof in 2020 With 20 Year Transferable Warranty
  • Good Unit Mix (10 One-Bedroom units and 30 Two-Bedroom units)
  • Value-Add Opportunity with Renovating Remaining 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

  • Patrick Suffield

    Associate

    (312) 327-5419

    Email Patrick

    License(s): IL: 475.179485, MI: 6501424960

    Chicago Downtown

Financing By

Listing Price: $4,900,000

Cap Rate
5.29%
Number of Units
40
Price/Unit
$122,500
Price/Gross SF
$99.28
Gross SF
49,356

Investment Highlights

  • New Roof in 2020 With 20 Year Transferable Warranty
  • Good Unit Mix (10 One-Bedroom units and 30 Two-Bedroom units)
  • Value-Add Opportunity with Renovating Remaining Units

Investment Overview

Marcus & Millichap is pleased to offer the Addison Apartments. Addison Apartments is a 40-unit property composed of one brick masonry-built building in a community style environment located in Addison, Illinois. Addison Apartments sits on over 2.49 acres of land and has a healthy mix of 10 one-bedroom and 30 two-bedroom units each with private entrances. The one two-story building was built in 1968 and has been upgraded throughout ownership.

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

  • Patrick Suffield

    Associate

    (312) 327-5419

    Email Patrick

    License(s): IL: 475.179485, MI: 6501424960

    Chicago Downtown

Financing By

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