This is a 12-unit investment offering located in a quiet community of Calumet City. The composition of units is 10-two bedrooms and 2-one bedrooms. The property is located on the south-west corner of Memorial Drive in Calumet City. The property has individual furnaces to each unit; the expense of heating the units are the responsibility of the tenants. The property is currently fully occupied and in excellent condition. The rents have room for increases. The property fully cash-flows after debt service and is stabilized. The cap rate is 10.6%.
Calumet City is a city in Cook County, Illinois, United States. The ZIP code is 60409.
Calumet City (commonly referred to locally as "Cal City") was founded in 1893 when the villages of Schrumville and Sobieski Park merged under the name of West Hammond since it lies on the west side of the Illinois-Indiana line from Hammond, Indiana. In 1924, West Hammond officially became Calumet City after its citizens voted to change the name in 1923. In addition to being bordered to the east by Hammond, it is also bordered by Burnham and Chicago to the north, Lansing to the south, and South Holland and Dolton to the west. A landmark and point of pride among Cal City residents is the pair of large water towers painted like the popular "Have a Nice Day" smiley faces.
