3329 147th Pl
Midlothian, IL 60445
Strong Historical Occupancy - 14 Units · Multifamily Property For Sale · 14 Units

ACO Commercial is pleased to offer for sale, a 14-unit walk-up style apartment building with approximately 12,000 SF of rentable area, located within the Village of Midlothian. The property is a three-story masonry structure with (7) 1Bed/1Bath units (650 SF each) and (7) 2Bed/1Bath units (875 SF each). The building has a flat roof, and either balconies or patios off of each of the units. The property offers 28 parking spaces, or two spaces per unit, in an open parking lot. The property is individually metered for electric, and master metered for water and gas (heating and cooking). The basement of the building has one laundry room with two washers and two dryers. The property is in stabilized condition and each of the units has been updated within the last two years. The building' s exterior is well maintained and shows little signs of deferred maintenance. The electrical service is up to date per current building code, the plumbing is sufficient and the building is heated by way of a hot water boiler located in the basement. The boiler was installed new in 2010. The property is currently 93% occupied and is being offered for $970,000 ($69,286/Unit 8.45% Cap Rate). The Subject property is situated in the Village of Midlothian, a south suburb of Chicago, in Cook County, in a medium density area among condominiums and multi-unit buildings. The Village of Midlothian has a combined land area of 2.82 square miles and a population of approximately 14,000. The Subject property is accessible by way of Interstate-294 and Interstate-80, which provide travel means to the west and northwest suburbs, and downtown Chicago, respectively. In addition, the property provides convenient access to the Midlothian Metra Station.