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208 N Waukegan Rd 8 Unit Apartment Building $740,000 ($92,500/Unit) 6.65% Cap Rate Lake Bluff, IL 60044
Investment Highlights
- 4 Conforming & 4 Nonconforming Units
- (1) Studio, (4) 1 bed 1 bath, (1) 2 bed 2.5 bath, (2) Office
- High-Demand, Low-Supply Rental Market
- Below Market Rents
- 19 Parking Spots
- Unincorporated Lake County
Executive Summary
Kiser Group is pleased to exclusively present 208 N Waukegan Rd, a mixed-use property located in Lake Bluff, IL. The building features six (6) residential units above two (2) ground-floor commercial spaces, offering a diversified and stable income stream. Several of the residential units have been updated with modern finishes, and the commercial spaces are fully leased to long-term tenants.
This asset offers a strong opportunity for investors looking to acquire a stabilized, income-producing mixed-use property in a high-demand, low-supply North Shore submarket.
This asset offers a strong opportunity for investors looking to acquire a stabilized, income-producing mixed-use property in a high-demand, low-supply North Shore submarket.
Property Facts
| Price | $740,000 | Apartment Style | Low-Rise |
| Price Per Unit | $92,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 6.65% | Building Size | 5,708 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1992 |
| Property Subtype | Apartment | Parking Ratio | 1.75/1,000 SF |
| Price | $740,000 |
| Price Per Unit | $92,500 |
| Sale Type | Investment |
| Cap Rate | 6.65% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 5,708 SF |
| No. Stories | 2 |
| Year Built | 1992 |
| Parking Ratio | 1.75/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| Studios | 1 | - | - |
| 1+1 | 1 | - | - |
| 1+1 | 1 | - | - |
| 1+1 | 1 | - | - |
| 2+2.5 | 1 | - | - |
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Property Taxes
| Parcel Number | 12-18-329-005 | Improvements Assessment | $145,920 |
| Land Assessment | $107,958 | Total Assessment | $253,878 |
Property Taxes
Parcel Number
12-18-329-005
Land Assessment
$107,958
Improvements Assessment
$145,920
Total Assessment
$253,878
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208 N Waukegan Rd
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