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Iron Flats 211 W Main St 130 Unit Apartment Building $3,850,000 ($29,615/Unit) Carpentersville, IL 60110
Investment Highlights
- 3.2 Acres of Development Land; Land is approved for 130-units of Class-A multi-family apartments
- TIF Funding Available; Approximately $11,000,000 of Tax Incrementing Financing (TIF) funds is approved for this development
- Shovel Ready; All plans and permits have been approved by the city and site is construction ready
- Minimal Soft Cost; Current owners have invested over $2,000,000 in zoning, engineering, plans, and more, minimizing upfront soft cost
Executive Summary
Enjoy this 3.2 Acres of Development Land for $3.85M. Shovel Ready! All plans and permits have been approved by the city and site is construction ready.
Property Facts Under Contract
| Price | $3,850,000 | Building Class | B |
| Price Per Unit | $29,615 | Lot Size | 3.20 AC |
| Sale Type | Investment | Construction Status | Under Construction |
| No. Units | 130 | Building Size | 100,000 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 2026 |
| Apartment Style | Mid-Rise | Parking Ratio | 2.4/1,000 SF |
| Zoning | GC - General Commercial | ||
| Price | $3,850,000 |
| Price Per Unit | $29,615 |
| Sale Type | Investment |
| No. Units | 130 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 3.20 AC |
| Construction Status | Under Construction |
| Building Size | 100,000 SF |
| No. Stories | 4 |
| Year Built | 2026 |
| Parking Ratio | 2.4/1,000 SF |
| Zoning | GC - General Commercial |
Amenities
Site Amenities
- 24 Hour Access
- Concierge
- Elevator
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 70 | - | - |
| 2+2 | 40 | - | - |
| Studios | 20 | - | - |
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Iron Flats | 211 W Main St
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