1905-1913 Saint Charles Rd 22 Unit Apartment Building $1,950,000 ($88,636/Unit) 9.06% Cap Rate Maywood, IL 60153

Essex Realty Group, LLC has been exclusively engaged to market for sale 1909–13 Saint Charles Road, a 22-unit multifamily property located in Maywood, Illinois. This well-positioned asset offers investors a rare opportunity to scale in a strong west suburban market, just 12 miles west of downtown Chicago. The Subject Property features a desirable unit mix consisting of 18, two-bedroom/one-bathroom and 4, one-bedroom/one-bathroom apartments.
1909–13 Saint Charles Road provides an investor with a strong performing property with stable historical occupancy and collections; however, in-place rents are roughly 15-20% below market on average as indicated by the enclosed rental analysis. Such increases may allow for annual rental income to grow more than $60,000 (19%) as-is, with little-to-no work.
Current ownership has invested a significant amount of capital during its ownership including, but not limited to, new roofs (2021), replacement of various mechanical systems, full window and entry door replacements (2002), and full parking lot resurfacing (2025). In addition, many units have upgraded kitchens, baths and vinyl plank flooring.
The Subject Property was recently accepted into Cook County's Affordable Housing Special Assessment Program (AHSAP), which provides reduced property tax assessments in exchange for keeping 15% of the units at 60% AMI rental and income limits. In this case, the annual assessed value reduction is 25%. The designation is in place until 2034 and if ownership remains compliant, the property is eligible for two, ten-year renewals allowing the property to participate in the program until 2054. Projected 30-year savings based upon current tax rates will provide savings well into six figures. While the present value of these long-term savings provide an immediate benefit to future ownership.
1909–13 Saint Charles Road represents an exceptional opportunity to acquire a cash-flowing suburban multifamily asset with immediate upside potential, backed by substantial recent capital improvements and established real estate tax advantages.