Multifamily

Chicago Heights Portfolio

Listing Price: $1,337,500

Cap Rate
7.46%
Number of Units
19
GRM
6.15
Occupancy
95.00%
Price/Unit
$70,395
Price/Gross SF
$67.89
Gross SF
19,700

Investment Overview

Marcus & Millichap is pleased to present a three-property apartment portfolio with 19 total units located in Chicago Heights, Illinois. Chicago Heights is a southern suburb of Chicago located approximately 25 miles south of the downtown Loop. The suburb has a population of over 30,000 residents and operates 11 schools.

62-64 West 15th Street consists of six large three-bedroom / one-bathroom units (approximately 1,400 square feet) and one one-bedroom / one-bathroom garden unit (approximately 800 square feet). The building features original woodwork and updated kitchens and bathrooms including two with granite countertops. On-site, there is a laundry facility as well as a fitness center in the basement. The building also features a new boiler to heat all but one of the three-bedroom units which contains electric baseboard heat and is tenant paid. Three-bedroom units feature private sun porches and storage (approximately 200 square feet). This three-story vintage building was constructed in 1908.

148 West 14th Street consists of six large two-bedroom / one-bathroom units (approximately 900 square feet). The living rooms feature faux fireplaces, original woodwork and approximately nine foot ceilings. Each unit has been converted with their own gas forced-air furnace and tenants pay both gas and electric. The building also contains six garage parking spaces as well as a parking lot and on-site laundry. This three-story vintage building was constructed in 1926.

3020-3022 Jackson Avenue consists of four two-bedroom / one-bathroom units (approximately 900 square feet) and two one-bedroom / one-bathroom units (approximately 750 square feet). Units feature in-unit washer and dryers, dishwashers, and individual gas forced-air. Tenants pay all utilities including water. This one-story brick building was constructed in 2001.

Here, an investor has the opportunity to acquire three well-maintained apartment buildings with stable, above average returns.

Investment Highlights

  • Well-Maintained Portfolio of Three Properties
  • Large Units
  • Fully-Occupied
  • Six Garage Spaces
  • Tenant-Paid Utilities
  • Unique Features

Exclusively Listed By

  • Eric P. Bell

    Senior Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

Listing Price: $1,337,500

Cap Rate
7.46%
Number of Units
19
GRM
6.15
Occupancy
95.00%
Price/Unit
$70,395
Price/Gross SF
$67.89
Gross SF
19,700

Investment Highlights

  • Well-Maintained Portfolio of Three Properties
  • Large Units
  • Fully-Occupied
  • Six Garage Spaces
  • Tenant-Paid Utilities
  • Unique Features

Investment Overview

Marcus & Millichap is pleased to present a three-property apartment portfolio with 19 total units located in Chicago Heights, Illinois. Chicago Heights is a southern suburb of Chicago located approximately 25 miles south of the downtown Loop. The suburb has a population of over 30,000 residents and operates 11 schools.

62-64 West 15th Street consists of six large three-bedroom / one-bathroom units (approximately 1,400 square feet) and one one-bedroom / one-bathroom garden unit (approximately 800 square feet). The building features original woodwork and updated kitchens and bathrooms including two with granite countertops. On-site, there is a laundry facility as well as a fitness center in the basement. The building also features a new boiler to heat all but one of the three-bedroom units which contains electric baseboard heat and is tenant paid. Three-bedroom units feature private sun porches and storage (approximately 200 square feet). This three-story vintage building was constructed in 1908.

148 West 14th Street consists of six large two-bedroom / one-bathroom units (approximately 900 square feet). The living rooms feature faux fireplaces, original woodwork and approximately nine foot ceilings. Each unit has been converted with their own gas forced-air furnace and tenants pay both gas and electric. The building also contains six garage parking spaces as well as a parking lot and on-site laundry. This three-story vintage building was constructed in 1926.

3020-3022 Jackson Avenue consists of four two-bedroom / one-bathroom units (approximately 900 square feet) and two one-bedroom / one-bathroom units (approximately 750 square feet). Units feature in-unit washer and dryers, dishwashers, and individual gas forced-air. Tenants pay all utilities including water. This one-story brick building was constructed in 2001.

Here, an investor has the opportunity to acquire three well-maintained apartment buildings with stable, above average returns.

Exclusively Listed By

  • Eric P. Bell

    Senior Managing Director Investments

    (630) 570-2157

    Email Eric

    License(s): IL: 475.144220

    Chicago Oak Brook

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