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37 W 14th Pl 6 Unit Apartment Building $550,000 ($91,667/Unit) Chicago Heights, IL 60411
Investment Highlights
- 20-unit multifamily portfolio located across Chicago Heights and Sauk Village
- Convenient access to I-394, I-57, and U.S. Route 30 providing connectivity throughout the greater Chicago metropolitan area
- Value-add opportunity at 37-39 W. 14th Place, where many units have not yet undergone the same level or renovation as the remainder of the portfolio
Executive Summary
37-39 W. 14th Place is a well-located 6-unit multifamily property situated in Chicago Heights, just off Route 30 - Lincoln Highway with convenient access to retail corridors, public transportation, and major south suburban employment centers. The property benefits from its proximity to Prairie State College, Franciscan Health Olympia Fields, and nearby industrial and logistics hubs that continue to support workforce housing demand throughout the area.
The property features a unit mix of (1) two-bedroom / one-bathroom unit and (5) three-bedroom / one-bathroom units, offering larger floor plans that appeal to long-term tenants and families. While the interiors have seen more limited renovations compared to other properties in the portfolio, the asset has maintained stable occupancy and presents investors with future value-add potential through continued unit upgrades. Recent capital improvements include a newer boiler and extensive tuckpointing work, helping support the long-term physical integrity of the property. Ownership currently provides heat, while tenants are responsible for electric.
The asset offers investors an opportunity to acquire a stable workforce housing property in a strong south suburban location with operational upside over time.
The property features a unit mix of (1) two-bedroom / one-bathroom unit and (5) three-bedroom / one-bathroom units, offering larger floor plans that appeal to long-term tenants and families. While the interiors have seen more limited renovations compared to other properties in the portfolio, the asset has maintained stable occupancy and presents investors with future value-add potential through continued unit upgrades. Recent capital improvements include a newer boiler and extensive tuckpointing work, helping support the long-term physical integrity of the property. Ownership currently provides heat, while tenants are responsible for electric.
The asset offers investors an opportunity to acquire a stable workforce housing property in a strong south suburban location with operational upside over time.
Property Facts
| Price | $550,000 | Lot Size | 0.15 AC |
| Price Per Unit | $91,667 | Building Size | 7,854 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1923 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Building Class | B | ||
| Zoning | R | ||
| Price | $550,000 |
| Price Per Unit | $91,667 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 7,854 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1923 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 32-20-400-037-0000 | Improvements Assessment | $25,279 |
| Land Assessment | $2,391 | Total Assessment | $27,670 |
Property Taxes
Parcel Number
32-20-400-037-0000
Land Assessment
$2,391
Improvements Assessment
$25,279
Total Assessment
$27,670
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