Log In/Sign Up
Your email has been sent.
1025-1049 W Vermont St 60 Unit Apartment Building $5,880,000 ($98,000/Unit) 8.23% Cap Rate Calumet Park, IL 60827
Investment Highlights
- 2 buildings situated side-by-side and the 3rd located directly across the street.
- Strong Upside Potential – Below-market rents present opportunity for rental rate growth to market levels.
- Desirable Suburban Location – Nestled in a residential neighborhood with strong tenant demand and convenient access to transportation.
- Attractive Unit Features – Balconies for all units, modernized finishes in renovated apartments, and on-site laundry facilities.
- Recent Capital Improvements – Newer roofs, updated common areas, and renovated units with new flooring, appliances, and fixtures.
Executive Summary
Midwest Investment Advisors with KW Commercial and Keller Williams ONEChicago is pleased to present the exclusive offering of Vermont Riverbend Residences, a 60-unit apartment community located at 1025–1049 W. Vermont St, Calumet Park, IL 60827 near the Little Calumet River. 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: $484,137 | Pro Forma NOI: $579,895
List Price: $5,880,000 ($98,000 per unit | $97.26 per SF)
Current Cap Rate: 8.23% | Pro Forma Cap Rate: 9.86%
Current GRM: 7.01 | Pro Forma GRM: 6.28
Occupancy: 98% (1 available unit out of 60)
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: $484,137 | Pro Forma NOI: $579,895
List Price: $5,880,000 ($98,000 per unit | $97.26 per SF)
Current Cap Rate: 8.23% | Pro Forma Cap Rate: 9.86%
Current GRM: 7.01 | Pro Forma GRM: 6.28
Occupancy: 98% (1 available unit out of 60)
Property Facts
| Price | $5,880,000 | Apartment Style | Low-Rise |
| Price Per Unit | $98,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.03 AC |
| Cap Rate | 8.23% | Building Size | 60,459 SF |
| Gross Rent Multiplier | 7.01 | Average Occupancy | 98% |
| No. Units | 60 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | Parking Ratio | 1.12/1,000 SF |
| Zoning | RS-2 - Residential | ||
| Price | $5,880,000 |
| Price Per Unit | $98,000 |
| Sale Type | Investment |
| Cap Rate | 8.23% |
| Gross Rent Multiplier | 7.01 |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.03 AC |
| Building Size | 60,459 SF |
| Average Occupancy | 98% |
| No. Stories | 3 |
| Year Built | 1967 |
| Parking Ratio | 1.12/1,000 SF |
| Zoning | RS-2 - Residential |
Amenities
Unit Amenities
- Balcony
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 40 | - | 650 |
| 2+1 | 20 | - | 800 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $255,376 | |
| Land Assessment | $26,975 | Total Assessment | $282,351 |
Property Taxes
Parcel Numbers
Land Assessment
$26,975
Improvements Assessment
$255,376
Total Assessment
$282,351
1 of 39
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
1025-1049 W Vermont St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.