Three Building Apartment Portfolio 3 Multifamily Properties Offered at $1,190,000 in Blue Island, IL
INVESTMENT HIGHLIGHTS
- Fully Leased
- Recent Upgrades
- All Buildings Close to Transit
EXECUTIVE SUMMARY
Brookline Real Estate is proud to present the Multifamily Investment Portfolio located in Blue Island, IL. The offering consists of three fully-leased apartment buildings. The properties are within blocks of one another, and include a six-unit, a four-unit, and a three-unit building to complete the portfolio.
The subject properties will effectively provide an investor with stabilized assets featuring thirteen occupied apartments. Multiple units have been recently upgraded including newer cabinets, flooring, and appliances. Additional value can be added through updating the remaining units to collect higher rents. All three properties have an excellent history of occupancy.
The properties are located entirely within Blue Island, at:
2160 123rd St
2501 Grove St
12801 Honore St
The buildings are in proximity to downtown Blue Island and the Olde Western Avenue Historic District featuring several retail shops and restaurants. Residents enjoy short distances to transit including four Metra train stations and PACE bus stops along Western Avenue.
This portfolio is being offered at a 6.50% CAP rate with tremendous cash flow and future upside.
The subject properties will effectively provide an investor with stabilized assets featuring thirteen occupied apartments. Multiple units have been recently upgraded including newer cabinets, flooring, and appliances. Additional value can be added through updating the remaining units to collect higher rents. All three properties have an excellent history of occupancy.
The properties are located entirely within Blue Island, at:
2160 123rd St
2501 Grove St
12801 Honore St
The buildings are in proximity to downtown Blue Island and the Olde Western Avenue Historic District featuring several retail shops and restaurants. Residents enjoy short distances to transit including four Metra train stations and PACE bus stops along Western Avenue.
This portfolio is being offered at a 6.50% CAP rate with tremendous cash flow and future upside.
PROPERTY FACTS
| Price | $1,190,000 |
| Price / SF | $99.77 / SF |
| Cap Rate | 6.50% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 11,928 SF |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 2501 Grove St, Blue Island, IL 60406 | Multifamily | 2,708 SF | 1923 | - |
| 12801 Honore St, Blue Island, IL 60406 | Multifamily | 5,580 SF | 1969 | - |
| 2160 123rd St, Blue Island, IL 60406 | Multifamily | 3,640 SF | 1970 | - |
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