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897 Graceland Avenue, Des Plaines, IL

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897 Graceland Avenue

Des Plaines, IL 60016-6427 - Des Plaines/Arlington Hts Corridor MF Submarket


Property Type:Multi-Family Number of Units:11 Status:Existing Year Built:1969
Stories:3 Building Size:9,990 SF Land Area:.22 AC (9,605 SF)
For Sale Price:$1,200,000 Price/Unit:$109,090.91 Cap Rate:6.26 % GRM:-

Portfolio:This property is for sale as part of a portfolio of 2 properties.
Parking:1.2 Parking Spaces / 1,000 SF



Sale Notes:
The subject property consists of a 9,607 SF land parcel that is improved with a three story, ~10,000 SF; cream colored masonry constructed apartment building with a total of 11 units. Subject has 12 surface parking spots on site. Heat is provided by an older steam boiler system. Hot water is provided by a single commercial size (100 gallon) hot water heater. The subject property has a partial basement that contains a laundry room and utility room. Th Thus far both the boiler and hot water heater need repair. The parking lot is in need of repair as well. The acquisition of the building presents an excellent opportunity for an investor to take advantage of strong rental cash flow.
COULD BE SOLD AS PART OF A PACKAGED DEAL. 9 UNIT BUILDING 3 BLOCKS AWAY AT 1475 ASHLAND AVE, DES PLAINES, IL $950,000.

Chicago Real Estate Resources
Jonathan Gil
(312) 228-4700

Michael Tolliver
(773) 327-9300




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