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Multifamily

8221 Enger Ln

8221 Enger Ln, River Grove, IL 60171

Listing Price: $820,000

Cap Rate
5.70%
Number of Units
6
Occupancy
100.0%
Price/Unit
$136,667
Price/Gross SF
$120.59
Gross SF
6,800

Investment Overview

Marcus & Millichap is pleased to present 8221 West Enger Lane, an oversized six-unit apartment building located in River Grove, Illinois. The unit mix is comprised of one one-bedroom / one-bathroom unit and five two-bedroom / one-bathroom units (approximately 750, 875 and 900 square feet). Select units have been renovated with cherry kitchen cabinets, formica countertops, tile and hardwood flooring, bathroom vanities and shower tiling. In the last eight years, the property’s received various capital improvements including new windows throughout, tear-off roof, exterior doors, and repaved parking lot. Additionally, the building features an owner’s work room, on-site laundry facility, bill to coin change machine, six parking spaces, and storage shed. River Grove is a village in Cook County, located approximately 15 miles northwest of the downtown Chicago Loop, with convenient access to Route 171. Public transportation is readily available at the River Grove and Elmwood Park Metra stations, located approximately one mile south of the subject property. Additionally, PACE bus stops are conveniently located along Cumberland Avenue, Belmont Avenue and Grand Avenue. For domestic and international traveling purposes, O'Hare International Airport is approximately six miles northwest of the asset. This opportunity allows a new investor the ability to acquire an oversized six-unit building with various capital improvements located in a desirable River Grove neighborhood. A new investor can increase cashflow by bringing rents to market through continual unit renovations, as well as implementing pay-to-park for the six parking spaces.

Investment Highlights

  • Oversized Six-Unit in a Desirable River Grove Location
  • Recent Capital Improvements and Unit Renovations
  • Unique Amenities: Owner's Work Room, Laundry Change Machine and Storage Shed
  • Ideal Unit Mix of Mostly Two-Bedroom Units
  • Close Proximity to Numerous Modes of Transportation
  • On-Site Laundry Facility and Six Parking Spaces

Exclusively Listed By

Multifamily

8221 Enger Ln

Listing Price: $820,000

Cap Rate
5.70%
Number of Units
6
Occupancy
100.0%
Price/Unit
$136,667
Price/Gross SF
$120.59
Gross SF
6,800

Investment Highlights

  • Oversized Six-Unit in a Desirable River Grove Location
  • Recent Capital Improvements and Unit Renovations
  • Unique Amenities: Owner's Work Room, Laundry Change Machine and Storage Shed
  • Ideal Unit Mix of Mostly Two-Bedroom Units
  • Close Proximity to Numerous Modes of Transportation
  • On-Site Laundry Facility and Six Parking Spaces

Investment Overview

Marcus & Millichap is pleased to present 8221 West Enger Lane, an oversized six-unit apartment building located in River Grove, Illinois. The unit mix is comprised of one one-bedroom / one-bathroom unit and five two-bedroom / one-bathroom units (approximately 750, 875 and 900 square feet). Select units have been renovated with cherry kitchen cabinets, formica countertops, tile and hardwood flooring, bathroom vanities and shower tiling. In the last eight years, the property’s received various capital improvements including new windows throughout, tear-off roof, exterior doors, and repaved parking lot. Additionally, the building features an owner’s work room, on-site laundry facility, bill to coin change machine, six parking spaces, and storage shed. River Grove is a village in Cook County, located approximately 15 miles northwest of the downtown Chicago Loop, with convenient access to Route 171. Public transportation is readily available at the River Grove and Elmwood Park Metra stations, located approximately one mile south of the subject property. Additionally, PACE bus stops are conveniently located along Cumberland Avenue, Belmont Avenue and Grand Avenue. For domestic and international traveling purposes, O'Hare International Airport is approximately six miles northwest of the asset. This opportunity allows a new investor the ability to acquire an oversized six-unit building with various capital improvements located in a desirable River Grove neighborhood. A new investor can increase cashflow by bringing rents to market through continual unit renovations, as well as implementing pay-to-park for the six parking spaces.

Exclusively Listed By

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