1049 W Vermont Ave - Apartments FOR SALE


Calumet Park, IL 60827
$6,125,000 USD
312-722-7917
1049 W Vermont Ave, Calumet Park, IL for Sale
$6,125,000 USD
Apartments - FOR SALE
1/23
null | 7.57% Cap Rate

1049 W Vermont Ave
Calumet Park, IL 60827


HIGHLIGHTS

  • Desirable Unit Mix: (39) 1Bd/1Ba and (21) 2Bd/1Ba apartments averaging 702 SF
  • Long-Term Ownership: Same family ownership and management since 1988
  • Capital Improvements: Full pitched shingle roof tear-off and replacement (2012)
  • Prime South Suburban Location: Minutes from I-57, I-294, and Metra, with strong workforce housing demand

OVERVIEW

Essex Realty Group, Inc. has been exclusively engaged to market for sale the Davis Apartments, a 60-unit multifamily portfolio located at 1025–1049 W Vermont Avenue in Calumet Park, Illinois. Built in 1966, the 60-unit portfolio comprises three adjacent 20-unit brick apartment buildings that have been owned and operated by the same family since 1988, reflecting decades of consistent care and hands-on management. The buildings feature a desirable unit mix of Thirty-Nine (39) one-bedroom/one-bathroom and Twenty-One (21) two-bedroom/one-bathroom apartments, averaging 650–800 square feet, each with a private balcony and access to 60 surface parking spaces. The Property has been well maintained throughout ownership, including a full tear-off pitched shingle roof replacement in 2012. Interiors feature clean, functional finishes with standard kitchens, durable flooring, and tiled bathrooms, while exteriors present classic mid-century brick façades and neatly landscaped courtyards. The Davis Apartments is ideally situated in Calumet Park; a stable south suburban community located approximately 15 miles south of downtown Chicago. The Property enjoys convenient access to major thoroughfares including I-57, I-294, and 127th Street, as well as the Metra Electric Line, which provides direct service to downtown Chicago. The area offers a well-established residential base supported by nearby retail corridors along South Halsted Street and 127th Street, featuring grocery stores, restaurants, and essential services. At current in-place rents, the Davis Apartments operates at a 7.57% cap rate, generating steady income with 100% occupancy. With market rents of $1,150 for one-bedroom and $1,350 for two-bedroom units, investors can achieve a 8.01% stabilized cap rate and 9.87% cash-on-cash return, supported by an efficient 40% expense ratio. The Property’s proven operating history, below-market rents, and stable suburban location create an appealing opportunity for investors seeking durable cash flow with measurable upside.

FOR SALE DETAILS

PRICE

$6,125,000 USD

PRICE/SF

$101 USD /SF

# OF UNITS

60

PRICE/UNIT

$102,083

CAP RATE

7.57%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1967

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,118 SF

ZONING

RS-2

APN/PARCEL ID

25-32-207-062-0000,25-32-219-055-0000,25-32-219-056-0000

ASK ABOUT THIS PROPERTY

Jimmy DonahueEssex Realty Group, LLCMore Info
312-722-7917

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Jimmy DonahueEssex Realty Group, LLCMore Info
312-722-7917

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