314-655-6060
1837 Lebanon Ave, Belleville, IL for Sale
Apartments - FOR SALE
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1837 Lebanon Ave
Belleville, IL 62221


HIGHLIGHTS

  • Established 54-unit garden-style apartment complex located in Belleville, Illinois
  • 37% of the units have been updated achieving a $148 average rent increase, allowing new ownership to complete upgrades and push rents
  • Strategic Metro East location, which offers access to the St. Louis metropolitan job market, while benefiting from lower operating costs in Illinois
  • Stable 3-mile demographics with the Average Home Value being $187,754 and the Average Household Income being $96,037
  • All units are two-bedroom, one-bathroom with fireplaces, private balconies, and washer/dryer hookups, appealing to long-term renters
  • Close to major employers including Memorial Hospital, Southwestern Illinois College, and Scott AFB, providing a stable tenant base

OVERVIEW

CBRE, as exclusive marketing advisor, is pleased to present the opportunity to acquire Lake Christine Village Apartments (“the Property”), a 54-unit, garden-style apartment community situated on 2.53 acres in Belleville, Illinois. Constructed in 1997 and renovated in 2001, the residential property includes 55,800 square feet of rental space with spacious two-bedroom units with fireplaces, private balconies, and in-unit laundry hookups. The property is ideally positioned just 20 minutes from downtown St. Louis, providing residents with seamless access to major employment centers, cultural attractions, and entertainment venues across the bi-state area. Situated near the intersection of Illinois Route 15 and Highway 158, Lake Christine Village benefits from excellent regional connectivity. The property is minutes from Interstate 64, offering direct routes to Scott Air Force Base, MidAmerica St. Louis Airport, and major industrial parks. Residents enjoy proximity to local shopping centers, grocery stores, restaurants, and healthcare facilities, while nearby employers include Memorial Hospital, Southwestern Illinois College, and a growing logistics and manufacturing sector. Lake Christine Village is being sold with an attractive assumable debt of 3.77%. A call for offers date will be announced during marketing. Lake Christine Village is part of a larger 4-property, 504-unit portfolio. Properties can be purchased individually or as a portfolio.

FOR SALE DETAILS

PRICE

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# OF UNITS

54

CAP RATE

Request Cap Rate

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lake Christine Village

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

56

LAND DETAILS

LAND ACRES

2.55 AC

LAND SF

111,048 SF

ZONING

R2

APN/PARCEL ID

08-14.0-103-021

ASK ABOUT THIS PROPERTY

314-655-6060

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314-655-6060

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