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Oak Park Edge 6037 North Ave 24 Unit Apartment Building $7,900,000 ($329,167/Unit) 6.91% 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 | $7,900,000 | Property Subtype | Apartment |
| Price Per Unit | $329,167 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.41 AC |
| Cap Rate | 6.91% | Building Size | 29,142 SF |
| No. Units | 24 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2022 |
| Price | $7,900,000 |
| Price Per Unit | $329,167 |
| Sale Type | Investment |
| Cap Rate | 6.91% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.41 AC |
| Building Size | 29,142 SF |
| No. Stories | 4 |
| Year Built | 2022 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 24 | - | 999 - 1,286 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $99,279 | |
| Land Assessment | $20,543 | Total Assessment | $119,822 |
Property Taxes
Parcel Numbers
Land Assessment
$20,543
Improvements Assessment
$99,279
Total Assessment
$119,822
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Oak Park Edge | 6037 North Ave
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