501-509 Chicago Rd, Thornton, IL 60476
34 Unit Apartment Building | $3,150,000 ($92,647/Unit) | 7.60% Cap Rate | Thornton, IL 60476
For Sale
Active
Asking Price $3,150,000
- Property Type
-
Multifamily
- Square Feet
- 23,820 SF
Listing Contacts
Michael Duckler
Paul Waterloo
Patrick Kennelly
Property Overview
Interra Realty is pleased to present a market analysis for the multifamily properties at 501-509 Chicago Road in Thornton, Illinois. The subject investment opportunity consists of two buildings with 34 units total and 1:1 off street parking. The buildings are positioned in Thornton, Illinois which is approximately 22 miles South of the downtown Chicago Loop. This location offers commuters convenient access downtown via the Hazel Crest Metra Train Station, Interstate 294, and many bus stops nearby.
The unit mix comprises of 4 studios, 20 1-bedrooms, and 10 2-bedroom units. Approximately 5 out of 34 units are currently subsidized and 14 out of the 34 units fully rehabbed. The units are heated by hot water baseboard heat and cooled via individual wall A/C units. There are 2 wash and 2 dry machines at each building and they are operator owned.
A new investor has the opportunity to lower property taxes by 22% via eligibility of The Affordable Housing Special Assessment Program.
The unit mix comprises of 4 studios, 20 1-bedrooms, and 10 2-bedroom units. Approximately 5 out of 34 units are currently subsidized and 14 out of the 34 units fully rehabbed. The units are heated by hot water baseboard heat and cooled via individual wall A/C units. There are 2 wash and 2 dry machines at each building and they are operator owned.
A new investor has the opportunity to lower property taxes by 22% via eligibility of The Affordable Housing Special Assessment Program.
Property Details
- Class
- C
- Year Built
- 1964
- Stories
- 2
- Lot Size (sq. ft)
- 43,560 SF
- Units
- 34
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].