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8109 W Lawrence Ave 5 Unit Apartment Building $950,000 ($190,000/Unit) 3.99% Cap Rate Norridge, IL 60706
Investment Highlights
- Low sale market - Norridge
- Well-balanced unit mix: 3-bedroom, 2-bedroom, and 1-bedroom apartments
- 10-minute drive to O’Hare International Airport (4.9 miles)
- Current rents are approximately 15% below market levels
Executive Summary
Kiser Group is pleased to exclusively present for purchase 8109 W. Lawrence, a well-maintained five (5) unit building located in a desirable Northwest Side location of Chicago. The property benefits from its proximity to public transportation, retail corridors, restaurants, and major commuter routes, making it an attractive option for a wide range of tenants.
8109 W. Lawrence features a diverse unit mix consisting of one (1) 3Bd/1Ba unit, one (1) 2Bd/1Ba unit, one (1) studio unit, and two (2) 1Bd/1Ba units. The variety of layouts allows the property to appeal to multiple tenant profiles while providing stability through diversified rental demand.
The building currently operates at a 3.99% in-place cap rate, presenting investors with the opportunity to add value through continued operational improvements and rental growth. Additionally, the property offers a pro forma cash-on-cash return of 2.46%, creating long-term upside potential in a strong and stable rental market.
8109 W. Lawrence features a diverse unit mix consisting of one (1) 3Bd/1Ba unit, one (1) 2Bd/1Ba unit, one (1) studio unit, and two (2) 1Bd/1Ba units. The variety of layouts allows the property to appeal to multiple tenant profiles while providing stability through diversified rental demand.
The building currently operates at a 3.99% in-place cap rate, presenting investors with the opportunity to add value through continued operational improvements and rental growth. Additionally, the property offers a pro forma cash-on-cash return of 2.46%, creating long-term upside potential in a strong and stable rental market.
Property Facts
| Price | $950,000 | Building Class | C |
| Price Per Unit | $190,000 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 3,889 SF |
| Cap Rate | 3.99% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.29/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $950,000 |
| Price Per Unit | $190,000 |
| Sale Type | Investment |
| Cap Rate | 3.99% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 3,889 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1968 |
| Parking Ratio | 1.29/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | - | 1,100 |
| 2+1 | 1 | - | 1,000 |
| Studios | 1 | - | 650 |
| 1+1 | 2 | - | 750 |
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Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 12-14-205-041-0000 | Improvements Assessment | $63,699 |
| Land Assessment | $16,301 | Total Assessment | $80,000 |
Property Taxes
Parcel Number
12-14-205-041-0000
Land Assessment
$16,301
Improvements Assessment
$63,699
Total Assessment
$80,000
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8109 W Lawrence Ave
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