1860-1900 Parkside Dr - Apartments FOR SALE


Park Ridge, IL 60068
$3,000,000 USD
773-293-5023
1860-1900 Parkside Dr, Park Ridge, IL for Sale
$3,000,000 USD
Apartments - FOR SALE
1/5
null | 5.05% Cap Rate

1860-1900 Parkside Dr
Park Ridge, IL 60068


HIGHLIGHTS

  • Low Supply Market
  • Desirable Unit Mix
  • Spacious Layouts
  • New Windows
  • Modern Mechanicals
  • (10) Garage Spaces | On-Site Laundry

OVERVIEW

Kiser Group is pleased to exclusively offer for purchase 1860-1900 Parkside Dr, a rarely available 16-unit apartment building in the highly desirable Park Ridge, IL. This affluent suburban community in Cook County, just 15 miles northwest of downtown Chicago, is known for its charming downtown, excellent schools, and high quality of life. Park Ridge offers a sophisticated mix of peaceful residential areas, a vibrant commercial district, and abundant green spaces, along with convenient access to Metra and O'Hare Airport, providing both suburban tranquility and city connectivity. Situated on a picturesque, tree-lined street, 1860-1900 Parkside Dr features an appealing unit mix of nine (9) spacious 2BD/1BA apartments and seven (7) well-appointed 1BD/1BA apartments. The property also consists of ten (10) garage parking spots, along with twenty-three (23) outdoor parking spots. The units offer a range of finishes, from classic vintage charm with original hardwood floors throughout to more contemporary spaces featuring new appliances, modern cabinetry, and stylish LVP flooring. Enhancing the property's appeal are modern boiler systems, updated electric service, and a significant number of exterior capital improvements, reflecting meticulous maintenance. 1860-1900 Parkside Dr presents investors with a distinctive opportunity to acquire a meticulously maintained asset in the highly coveted Park Ridge market, where investment properties of this size rarely become available. By implementing strategic leasing initiatives and continuing unit modernization efforts, investors can significantly enhance returns while capitalizing on the consistent appreciation of property values in this highly sought-after community.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$207 USD /SF

# OF UNITS

16

PRICE/UNIT

$187,500

CAP RATE

5.05%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Hayward/Woodruff Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.99 AC

LAND SF

42,985 SF

ZONING

R4, Park Ridge

APN/PARCEL ID

09-15-403-062-0000,09-15-403-063-0000

ASK ABOUT THIS PROPERTY

Joe BianchiKiser GroupMore Info
773-293-5023

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Joe BianchiKiser GroupMore Info
773-293-5023

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