1025-1049 W Vermont St 60 Unit Apartment Building $5,880,000 ($98,000/Unit) 7.98% Cap Rate Calumet Park, IL 60827

Midwest Investment Advisors with KW Commercial and Keller Williams ONEChicago is pleased to present the exclusive offering of Vermont Street Apartments, a 60-unit multifamily community located at 1025–1049 W. Vermont St, Calumet Park, IL 60827. This investment opportunity consists of 3 contiguous, 20-unit yellow brick flexicore buildings totaling 60,459 SF and offering a desirable unit mix, strong in-place income, and significant upside potential through a light value-add repositioning strategy.
The property offers 68 off-street parking spaces, private balconies for each unit, and convenient on-site laundry facilities. The community features a well-maintained exterior with excellent curb appeal in a quiet residential neighborhood, supported by recent capital improvements including newer roofs, upgraded common areas, and unit renovations with new flooring, appliances, and fixtures.
Unit Mix & Rents
(20) Two-Bedroom / One-Bath Units – Current Average Rent: $1,316 | Market Average Rent: $1,525
(40) One-Bedroom / One-Bath Units – Current Average Rent: $1,091 | Market Average Rent: $1,275
Financial Highlights
Current NOI: $469,137 | Pro Forma NOI: $564,895
List Price: $5,880,000 ($98,000 per unit | $97.26 per SF)
Current Cap Rate: 7.98% | Pro Forma Cap Rate: 9.61%
Current GRM: 7.01 | Pro Forma GRM: 6.28
Occupancy: 98% (1 available unit out of 60)
Investment Highlights
2 buildings situated side-by-side and the 3rd located directly across the street – Efficient layout with Flexicore construction for durability and noise reduction.
Attractive Unit Features – Balconies for all units, modernized finishes in renovated apartments, and on-site laundry facilities.
Strong Upside Potential – Below-market rents present opportunity for rental rate growth to market levels through continued interior upgrades.
Recent Capital Improvements – Newer roofs, updated common areas, and renovated units with new flooring, appliances, and fixtures.
Desirable Suburban Location – Nestled in a residential neighborhood with strong tenant demand and convenient access to transportation, retail, and employment centers.
Vermont Street Apartments presents investors with a stabilized, cash-flowing asset in a strong rental market, with the added advantage of immediate light value-add potential to push rents and increase returns without major capex.