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6037 North Ave - Oak Park Edge 24 Unit Apartment Building Offered at $8,600,000 at a 6.23% Cap Rate Oak Park, IL 60302
Investment Highlights
- 2022 condo-quality construction with 24 residences, spanning 3 buildings
- Professionally-designed units with high-end finishes, open concept floorplans, accent lighting, floating open shelving, stainless steel appliances
- 0.8 Miles to Taylor Park; 10 min drive to historic Downtown Oak Park
- 2 Bed / 2 Bath spacious apartments with twelve (12) garage and fifteen (15) exterior parking spaces
- 1.2 Miles to Metra Galewood station, 2.1 miles to Ridgeland CTA Green Line station
Executive Summary
Kiser Group has been exclusively engaged to market for sale Oak Park Edge - 6031-37 W. North Ave., Oak Park, IL - a 24-unit 2022 new construction portfolio, comprised of condo-quality luxury residences. The portfolio includes three buildings, featuring (24) spacious 2 bed / 2 bath apartments with twelve (12) garage spots and fifteen (15) exterior parking spaces.
Professionally-designed apartments feature modern electric fireplaces, high-end appliance packages, and large, spa-like bathrooms. Floorplans are modern, open concept with plenty of space for both entertaining and privacy. In-unit laundry coupled with individual HVAC systems for each unit enables ownership to operate efficiently and set-up for easy maintenance for years to come. New ownership can capitalize further by improving parking income and increasing rents ~8% to be in line with market.
Located in Chicago’s Oak Park suburb, this opportunity is well-situated with easy access to public transportation with Metra (1.2 miles), CTA (2 miles) and almost equidistant to both O’hare and Midway airports. Investors are offered the opportunity to acquire a portfolio of high-quality, low-maintenance, stabilized residences in a core historic Chicago suburb.
Professionally-designed apartments feature modern electric fireplaces, high-end appliance packages, and large, spa-like bathrooms. Floorplans are modern, open concept with plenty of space for both entertaining and privacy. In-unit laundry coupled with individual HVAC systems for each unit enables ownership to operate efficiently and set-up for easy maintenance for years to come. New ownership can capitalize further by improving parking income and increasing rents ~8% to be in line with market.
Located in Chicago’s Oak Park suburb, this opportunity is well-situated with easy access to public transportation with Metra (1.2 miles), CTA (2 miles) and almost equidistant to both O’hare and Midway airports. Investors are offered the opportunity to acquire a portfolio of high-quality, low-maintenance, stabilized residences in a core historic Chicago suburb.
Property Facts
| Price | $8,600,000 | Property Type | Multifamily |
| Price Per Unit | $358,333 | Building Size | 29,142 SF |
| Sale Type | Investment | No. Stories | 4 |
| Cap Rate | 6.23% | Year Built | 2022 |
| No. Units | 24 |
| Price | $8,600,000 |
| Price Per Unit | $358,333 |
| Sale Type | Investment |
| Cap Rate | 6.23% |
| No. Units | 24 |
| Property Type | Multifamily |
| Building Size | 29,142 SF |
| No. Stories | 4 |
| Year Built | 2022 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 6 | - | 999 |
| 2+2 | 18 | - | 1,286 |
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Walk Score®
Very Walkable (83)
Property Taxes
| Parcel Number | 16-05-105-007-0000 | Improvements Assessment | $18,201 |
| Land Assessment | $4,063 | Total Assessment | $22,264 |
Property Taxes
Parcel Number
16-05-105-007-0000
Land Assessment
$4,063
Improvements Assessment
$18,201
Total Assessment
$22,264
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6037 North Ave - Oak Park Edge
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