900 Greenbrier Rd
Dekalb, IL 60115
900 Greenbrier Rd · Multifamily Property For Sale · 28 Units

****THIS PROPERTY IS UNDER CONTRACT**** Marcus & Millichap is pleased to present a 28-unit student housing apartment building located in DeKalb, Illinois. DeKalb is a city located in DeKalb County and is approximately 65 miles west of the downtown Chicago Loop via Interstate 88. DeKalb is home to Northern Illinois University with an enrollment of about 20,000 students and employs about 3,300 faculty / staff members. The subject property is located less than one mile north of Northern Illinois University. The area features golf courses, nature trails along the Kishwaukee River, as well as a historical center, museum, and gallery. The subject property is also within walking distance of several dining and retail options on Annie Glidden Road. The large 9,600-square foot building consists of one one-bedroom suite, one large single-occupancy unit, two small single-occupancy units and 24 double-occupancy units. The property was built in 1965 and features large common area space, an on-site laundry facility and a 30 vehicle parking lot. Some recent capital improvements include completely remodeled second and third floor bathrooms (2017), new windows (completed between 2013 and 2017), and a remodeled basement complete with new kitchen and study room. The building is currently being leased out to the Sigma Alpha Mu fraternity with about four years of lease term remaining. Sigma Alpha Mu currently has strong enrollment numbers, a healthy balance sheet and a long standing history that goes back to 1982. This turn-key investment offers an investor the opportunity to acquire a well-maintained asset with immediate strong cash flow from day one. ****THIS PROPERTY IS UNDER CONTRACT****