7227-7233 Roosevelt Rd, Forest Park, IL 60130
9 Unit Apartment Building | $1,050,000 ($116,667/Unit) | Forest Park, IL 60130
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $1,050,000
- Property Type
-
Multifamily
- Square Feet
- 10,500 SF
Listing Contacts
Karla Galva
Verified Profile
- Property Info
Property Overview
Essex Realty Group, Inc. has been exclusively engaged to market for sale 7227-7233 Roosevelt Road, a nine-unit mixed-use property located in the near west suburb of Forest Park. The Subject Property consists of five (5) second-floor apartments and four (4) ground-level commercial spaces, along with five (5) exterior parking spaces. All commercial and apartment units are fully leased, presenting the rare opportunity to acquire a stabilized asset in a high-demand rental market.
The commercial spaces are anchored by national retailer Boost Mobile, and also include long-term retail tenants with an average tenure of fourteen (14) years. The apartment units feature hardwood floors, individual HVAC, individual hot water heaters, and remodeled kitchens and baths with ceramic tile backsplashes, porcelain tile, and granite countertops in select units.
Per the enclosed rental survey, a new owner will have the opportunity to raise current rents by 15-40% for apartment units, and over 16% for the commercial spaces "As-Is."
7227-7233 Roosevelt Road sits in a phenomenal Forest Park location and offers residents easy access to major employers, schools, grocery stores, restaurants, and numerous retail options. Residents also benefit from the Harlem Blue Line station 0.6 miles away.
The commercial spaces are anchored by national retailer Boost Mobile, and also include long-term retail tenants with an average tenure of fourteen (14) years. The apartment units feature hardwood floors, individual HVAC, individual hot water heaters, and remodeled kitchens and baths with ceramic tile backsplashes, porcelain tile, and granite countertops in select units.
Per the enclosed rental survey, a new owner will have the opportunity to raise current rents by 15-40% for apartment units, and over 16% for the commercial spaces "As-Is."
7227-7233 Roosevelt Road sits in a phenomenal Forest Park location and offers residents easy access to major employers, schools, grocery stores, restaurants, and numerous retail options. Residents also benefit from the Harlem Blue Line station 0.6 miles away.
Property Details
- Class
- C
- Year Built
- 1925
- Stories
- 2
- Lot Size (sq. ft)
- 8,276 SF
- Units
- 9
Highlights
- Fully Occupied Mixed-Use Property in Highly Desirable Forest Park
- Strong Unit Mix: Four (4) 2Bd/1Ba, One (1) 1Bd/1Ba, & Four (4) Commercial
- Individual HVAC and Hot Water Heaters
- Multiple Recent Capital Improvements: Copper Plumbing (2016), Roof Silver Coat (2024), Windows (2016), New HVAC Units (2019-2024 for Five Units)
- Phenomenal Location Walking Distance to CTA, Abundant National Retailers, & Entertainment
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