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7120 Oconnell Dr 6 Unit Apartment Building $875,000 ($145,833/Unit) 6.38% Cap Rate Chicago Ridge, IL 60415
Investment Highlights
- Location -Less than one mile from I-294, Chicago Ridge Metra Station, and Bridgeview Mosque
- Well maintained building
- Strong rental demand in area
Executive Summary
For Sale By Owner
• Stable cash-flowing 6-unit building
• Strong rental demand in the area
• Long-term tenants
• Value-add potential through renovations
• All city inspections passed. No maintenance issues.
• Stable cash-flowing 6-unit building
• Strong rental demand in the area
• Long-term tenants
• Value-add potential through renovations
• All city inspections passed. No maintenance issues.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$83,400
|
$13.90
|
| Other Income |
$1,200
|
$0.20
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$84,600
|
$14.10
|
| Taxes |
$18,958
|
$3.16
|
| Operating Expenses |
$13,983
|
$2.33
|
| Total Expenses |
$32,941
|
$5.49
|
| Net Operating Income |
$51,659
|
$8.61
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $83,400 |
| Annual Per SF | $13.90 |
| Other Income | |
|---|---|
| Annual | $1,200 |
| Annual Per SF | $0.20 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $84,600 |
| Annual Per SF | $14.10 |
| Taxes | |
|---|---|
| Annual | $18,958 |
| Annual Per SF | $3.16 |
| Operating Expenses | |
|---|---|
| Annual | $13,983 |
| Annual Per SF | $2.33 |
| Total Expenses | |
|---|---|
| Annual | $32,941 |
| Annual Per SF | $5.49 |
| Net Operating Income | |
|---|---|
| Annual | $51,659 |
| Annual Per SF | $8.61 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 63 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 24-07-300-005-0000 | Total Assessment | $56,001 (2025) |
| Land Assessment | $4,973 (2025) | Annual Taxes | $18,958 ($3.16/SF) |
| Improvements Assessment | $51,028 (2025) | Tax Year | 2024 Payable 2025 |
Property Taxes
Parcel Number
24-07-300-005-0000
Land Assessment
$4,973 (2025)
Improvements Assessment
$51,028 (2025)
Total Assessment
$56,001 (2025)
Annual Taxes
$18,958 ($3.16/SF)
Tax Year
2024 Payable 2025
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Owners Services Inc
7120 Oconnell Dr
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