3045 Bernice Rd, Lansing, IL 60438
18 Unit Apartment Building | $1,800,000 ($100,000/Unit) | 7.60% Cap Rate | Lansing, IL 60438
For Sale
Active
Asking Price $1,800,000
- Property Type
-
Multifamily
- Square Feet
- 16,200 SF
Listing Contacts
Michael Duckler
Property Overview
Interra Realty has been exclusively engaged to market 3045-69 Bernice Road the three (3) building portfolio in a prime market of Chicago's South Suburbs, located in Lansing, IL. The neighboring 1970’s properties reside in a flourishing retail pocket of the submarket, while also locationally versatile by bordering several of Indiana's hottest markets in addition to being alongside I-94 for easy
access to downtown Chicago. The eighteen (18) unit offering consists of twelve (12) three-bedrooms and six (6) two-bedroom apartments.
All apartments have been well maintained with 16 out of the 18 units updated with new kitchens and bathroom vanities. The units feature vinyl plank flooring in the living and dining areas, tile flooring in the kitchen, formica countertops and updated cabinetry. The buildings are heated through hot water baseboard heat and cooled through window sleeve a/c units.
The buildings are outfitted with secured entrances, storage lockers, one (1) washer and one (1) dryer (owned by the landlord) at each property.
Qualified investors have the opportunity to increase rents in as-is condition by 20%. New ownership will inherit a well-maintained asset with rare scale in a prime location of the Chicago suburbs and
achieve a 9%+ cash on cash return.
access to downtown Chicago. The eighteen (18) unit offering consists of twelve (12) three-bedrooms and six (6) two-bedroom apartments.
All apartments have been well maintained with 16 out of the 18 units updated with new kitchens and bathroom vanities. The units feature vinyl plank flooring in the living and dining areas, tile flooring in the kitchen, formica countertops and updated cabinetry. The buildings are heated through hot water baseboard heat and cooled through window sleeve a/c units.
The buildings are outfitted with secured entrances, storage lockers, one (1) washer and one (1) dryer (owned by the landlord) at each property.
Qualified investors have the opportunity to increase rents in as-is condition by 20%. New ownership will inherit a well-maintained asset with rare scale in a prime location of the Chicago suburbs and
achieve a 9%+ cash on cash return.
Property Details
- Class
- C
- Year Built
- 1977
- Stories
- 3
- Units
- 18
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