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3556 Western Ave 8 Unit Apartment Building $3,500,000 ($437,500/Unit) 5.50% Cap Rate Highland Park, IL 60035

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Executive Summary

Located in Highland Park, Illinois, 3556 Western Avenue consists of an 8-unit mixed-use property comprised of a two-unit commercial space on the 1st floor and six residential units specifically consisting of 2-bedroom 2-baths located on the 2nd and 3rd floors. It also includes six attached garage parking spaces and twelve outdoor parking spaces. Built in 2005, the development is a masonry constructed three-story building in excellent condition.

Property Facts

Price	$3,500,000	Apartment Style	Low-Rise
Price Per Unit	$437,500	Building Class	B
Sale Type	Investment	Lot Size	0.53 AC
Cap Rate	5.50%	Building Size	15,200 SF
Gross Rent Multiplier	13.56	Average Occupancy	100%
No. Units	8	No. Stories	3
Property Type	Multifamily	Year Built	2005
Property Subtype	Apartment Office Office Residential Multifamily Dormitory	Parking Ratio	1.18/1,000 SF
Zoning	B-1, R-5

Price	$3,500,000
Price Per Unit	$437,500
Sale Type	Investment
Cap Rate	5.50%
Gross Rent Multiplier	13.56
No. Units	8
Property Type	Multifamily
Property Subtype	Apartment Office Office Residential Multifamily Dormitory
Apartment Style	Low-Rise
Building Class	B
Lot Size	0.53 AC
Building Size	15,200 SF
Average Occupancy	100%
No. Stories	3
Year Built	2005
Parking Ratio	1.18/1,000 SF
Zoning	B-1, R-5