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Multifamily

Two-Property Island Portfolio

5944 W Roosevelt Rd, Chicago, IL 60644

Listing Price: $4,250,000

Cap Rate
6.32%
Number of Units
50
Occupancy
87.0%
Price/Unit
$85,000
Price/Gross SF
$111.99
Gross SF
37,950

Investment Overview

Marcus & Millichap is pleased to present two vintage properties, a 38-unit mixed-use property and a 12-unit apartment building located in the Austin neighborhood of Chicago, Illinois. Located on the West Side of the city of Chicago, and approximately eight miles from the Loop. ‘The Island’ section of the Austin Neighborhood, which borders Forest Park, Oak Park, and Cicero, is one of the largest by population areas of the 77 officially defined communities in Chicago. The subject properties consists of seven retail spaces and 43 apartment units containing six studio units (approximately 400 square feet), 19 one-bedroom / one-bathroom units (approximately 650 square feet), 18 two-bedroom / one-bathroom units (approximately 886 square feet) and seven commercial units. This property has seen various capital improvements and select unit upgrades. This opportunity allows an investor to purchase a well-maintained asset with strong cash flow to hold long-term. Located in a solid rental market, a new investor has the potential to achieve double-digit cash-on-cash return through continued unit renovations.

Investment Highlights

  • Two-Property, 50-Unit Portfolio; 43 Apartments, 7 Commercial Spaces
  • Select Unit Renovations
  • Low Expenses - Individually-Metered Gas and Electric
  • Individual Water Heaters and Furnaces
  • Recent Capital Improvements
  • Double-Digit Cash-on-Cash Return
  • Located in the Island Neighborhood of Austin

Exclusively Listed By

  • Eric P. Bell

    Executive Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

  • Jordan Callaway

    First Vice President Investments

    (630) 570-2156

    Email Jordan

    License(s): KY: 71434, IL: 471.020981

    Chicago Oak Brook

Multifamily

Two-Property Island Portfolio

Listing Price: $4,250,000

Cap Rate
6.32%
Number of Units
50
Occupancy
87.0%
Price/Unit
$85,000
Price/Gross SF
$111.99
Gross SF
37,950

Investment Highlights

  • Two-Property, 50-Unit Portfolio; 43 Apartments, 7 Commercial Spaces
  • Select Unit Renovations
  • Low Expenses - Individually-Metered Gas and Electric
  • Individual Water Heaters and Furnaces
  • Recent Capital Improvements
  • Double-Digit Cash-on-Cash Return
  • Located in the Island Neighborhood of Austin

Investment Overview

Marcus & Millichap is pleased to present two vintage properties, a 38-unit mixed-use property and a 12-unit apartment building located in the Austin neighborhood of Chicago, Illinois. Located on the West Side of the city of Chicago, and approximately eight miles from the Loop. ‘The Island’ section of the Austin Neighborhood, which borders Forest Park, Oak Park, and Cicero, is one of the largest by population areas of the 77 officially defined communities in Chicago. The subject properties consists of seven retail spaces and 43 apartment units containing six studio units (approximately 400 square feet), 19 one-bedroom / one-bathroom units (approximately 650 square feet), 18 two-bedroom / one-bathroom units (approximately 886 square feet) and seven commercial units. This property has seen various capital improvements and select unit upgrades. This opportunity allows an investor to purchase a well-maintained asset with strong cash flow to hold long-term. Located in a solid rental market, a new investor has the potential to achieve double-digit cash-on-cash return through continued unit renovations.

Exclusively Listed By

  • Eric P. Bell

    Executive Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

  • Jordan Callaway

    First Vice President Investments

    (630) 570-2156

    Email Jordan

    License(s): KY: 71434, IL: 471.020981

    Chicago Oak Brook

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