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1401 N Western Ave 9 Unit Apartment Building $7,500,000 ($833,333/Unit) 6.20% Cap Rate Lake Forest, IL 60045

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INVESTMENT HIGHLIGHTS

  • 2024 Luxury Home Quality Construction
  • Short Walk to Lake Forest Town Center
  • All large units with patios

EXECUTIVE SUMMARY

1401 N. Western in Lake Forest, IL presents investors the opportunity to acquire a stabilized, turn key multifamily asset in the Lake Forest neighborhood. This building is still owned and managed by the original builder and has been meticulously maintained. Built in 2024, this property features open floor plans with high ceilings, exposed brick and beams, upscale kitchens with Bertazzoni appliances, in-unit laundry, and modern finishes. Residents enjoy two outdoor parking spaces per unit and is mere blocks away from downtown Lake Forest.

PROPERTY FACTS

Price $7,500,000
Price Per Unit $833,333
Sale Type Investment
Cap Rate 6.20%
No. Units 9
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low-Rise
Building Class A
Lot Size 0.33 AC
Building Size 12,555 SF
No. Stories 3
Year Built 2024

AMENITIES

UNIT AMENITIES

  • Air Conditioning
  • Ceiling Fans
  • Crown Molding
  • Carpet
  • Coffee System

SITE AMENITIES

  • 24 Hour Access
  • Waterfront
  • Wheelchair Accessible
  • Wi-Fi
  • Community-Wide WiFi

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
12-28-102-013
Land Assessment
$149,173
Improvements Assessment
$144,294
Total Assessment
$293,467
  • Listing ID: 38342963

  • Date on Market: 11/5/2025

  • Last Updated:

  • Address: 1401 N Western Ave, Lake Forest, IL 60045

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