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Schaumburg Terrace 2344 John Smith Dr 18 Unit Apartment Building $2,664,000 ($148,000/Unit) Schaumburg, IL 60194
Investment Highlights
- 18-unit rental portfolio offered as a package within the Schaumburg Terrace community
- Unit mix: twelve 2BR/1BA and six 1BR/1BA
- Every unit includes in-unit washer/dryer, dishwasher, and air conditioning
- Three 6-unit groupings, each situated within a separate 18-unit condominium building
- Association covers exterior maintenance, common areas, water, and heat (boiler baseboard); owner is responsible for interiors only
- Five of eighteen units fully renovated; thirteen units present a defined value-add runway
Executive Summary
This offering consists of an 18-unit rental portfolio within the Schaumburg Terrace community in Schaumburg, IL. The portfolio includes three separate 6-unit groupings, each located within an 18-unit condominium building. All units are leased, and the portfolio is being offered as a package.
The condominium association handles all exterior maintenance and common areas, including roofs, windows, doors, parking, snow removal, and landscaping. Heat (boiler-fed baseboard) and water are also included in the assessment, leaving ownership responsible only for unit interiors, with tenants paying electric. This structure minimizes day-to-day management and capital exposure compared to traditional small multifamily assets.
The unit mix includes twelve two-bedroom/one-bath units and six one-bedroom/one-bath units. All units feature in-unit washer and dryer, dishwasher, and air conditioning.
Five units have been fully renovated, with thirteen remaining that offer a clear, repeatable value-add opportunity. Renovated units include updated kitchens with new cabinetry, backsplash, sink, faucet, and stainless steel appliances (refrigerator, dishwasher, microwave), along with fully remodeled bathrooms, new flooring, and fresh paint throughout.
The condominium association handles all exterior maintenance and common areas, including roofs, windows, doors, parking, snow removal, and landscaping. Heat (boiler-fed baseboard) and water are also included in the assessment, leaving ownership responsible only for unit interiors, with tenants paying electric. This structure minimizes day-to-day management and capital exposure compared to traditional small multifamily assets.
The unit mix includes twelve two-bedroom/one-bath units and six one-bedroom/one-bath units. All units feature in-unit washer and dryer, dishwasher, and air conditioning.
Five units have been fully renovated, with thirteen remaining that offer a clear, repeatable value-add opportunity. Renovated units include updated kitchens with new cabinetry, backsplash, sink, faucet, and stainless steel appliances (refrigerator, dishwasher, microwave), along with fully remodeled bathrooms, new flooring, and fresh paint throughout.
Property Facts Under Contract
| Price | $2,664,000 | Apartment Style | Garden |
| Price Per Unit | $148,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 14.39 AC |
| No. Units | 18 | Building Size | 211,146 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1980 |
| Price | $2,664,000 |
| Price Per Unit | $148,000 |
| Sale Type | Investment |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 14.39 AC |
| Building Size | 211,146 SF |
| No. Stories | 3 |
| Year Built | 1980 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Patio
- Window Coverings
Site Amenities
- 24 Hour Access
- Clubhouse
- Laundry Facilities
- Security System
- Tennis Court
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,600 | 712 - 850 |
| 2+1 | 12 | $1,800 | 850 - 981 |
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Moderately walkable
60/100
Very drivable
80/100
Minimal public transit
10/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 07-18-200-022-1067 | Improvements Assessment | $9,209 |
| Land Assessment | $2,825 | Total Assessment | $12,034 |
Property Taxes
Parcel Number
07-18-200-022-1067
Land Assessment
$2,825
Improvements Assessment
$9,209
Total Assessment
$12,034
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Schaumburg Terrace | 2344 John Smith Dr
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