102 Memorial Dr - Apartments FOR SALE


Calumet City, IL 60409
$1,800,000 USD
773-251-7342
102 Memorial Dr, Calumet City, IL for Sale
$1,800,000 USD
Apartments - FOR SALE
1/8
null | 8.15% Cap Rate

102 Memorial Dr
Calumet City, IL 60409


HIGHLIGHTS

  • 22-unit multifamily property consisting entirely of one-bedroom, one-bathroom apartments
  • Most apartment interiors renovated with LVP flooring, updated kitchens and bathrooms, modern light fixtures, fresh pain, and updated appliances
  • Historically low vacancy supported by consistent demand for affordable workforce housing
  • Value-add opportunity through continued rent growth as unts turn over
  • Tenants pay electricty, helping limit owner utility expenses

OVERVIEW

102–108 Memorial Drive is a well-maintained 22-unit multifamily property located in Calumet City, Illinois. The property consists of twenty-two (22) one-bedroom, one-bathroom apartments, offering an affordable workforce housing asset that benefits from consistent rental demand and historically low vacancy. Most apartment interiors have been updated with durable luxury vinyl plank (LVP) flooring, fresh paint, renovated kitchens and bathrooms, modern light fixtures, and updated appliances. These improvements have positioned the property to attract and retain quality tenants while minimizing near-term capital expenditure requirements. Investors also have the opportunity to increase revenue through future rent growth as units continue to turn over. Tenants are responsible for electricity costs, while ownership provides heat through a high-efficiency Weil-McLain boiler installed in 2025. The recent boiler replacement represents a significant capital improvement that should improve operating efficiency and reduce future maintenance costs. Situated minutes from the Indiana state line, the property provides convenient access to the employment centers of Northwest Indiana and the south suburban Chicago market via Interstate 94 and other major transportation corridors. 102–108 Memorial Drive presents investors with the opportunity to acquire a well-maintained workforce housing asset featuring a desirable one-bedroom unit mix, recent capital improvements, stable occupancy, and the potential for continued revenue growth through future rent increases.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$105 USD /SF

# OF UNITS

22

PRICE/UNIT

$81,818

CAP RATE

8.15%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,460 SF

ZONING

R-1

APN/PARCEL ID

30-08-406-027-0000

ASK ABOUT THIS PROPERTY

Reid Bennett, CCIMSVN - Chicago CommercialMore Info
773-251-7342

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Reid Bennett, CCIMSVN - Chicago CommercialMore Info
773-251-7342

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.