331-307-7194
230 McMillan Ct, Cortland, IL for Sale
Apartments - FOR SALE
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230 McMillan Ct
Cortland, IL 60112


HIGHLIGHTS

  • Placed in service in 1998 and all units are restricted to residents earning under 60% AMI
  • Located in Chicago market, adjacent to the city of Dekalb
  • Conveniently located near shopping, schools, and community parks.
  • Offers a mix of two- and three-bedroom units suitable for families.

OVERVIEW

Cortland Estates offers a rare opportunity to acquire a 96-unit LIHTC community in Dekalb County, one of Illinois’ fastest-growing regions. Located approximately 40 miles west of the Chicagoland area, this property was built in 1998 and operates under a 40-year income restriction agreement, providing long-term affordability compliance. The unit mix includes spacious two- and three-bedroom layouts, catering to families of various sizes and ensuring strong demand. The property maintains a consistently high occupancy rate and features a range of amenities designed to enhance resident satisfaction. Positioned near Grove Shopping Center, Cortland Elementary School, and Cortland Area Community Park, the location offers convenient access to retail, dining, and recreational options. Residents also enjoy proximity to Town Center Park and nearby nature trails, creating a balanced lifestyle of convenience and outdoor activity. For investors, Cortland Estates represents a stable, income-restricted asset with potential for operational optimization. Its location within a growing county and its established community appeal make it a compelling addition to any multifamily portfolio focused on affordable housing.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

96

CAP RATE

Request Cap Rate

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cortland Estates

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2017

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7.46 AC

LAND SF

324,958 SF

ZONING

-

APN/PARCEL ID

09-20-102-001

ASK ABOUT THIS PROPERTY

Monica DanekPerformance Real Estate AdvisorsMore Info
331-307-7194

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Monica DanekPerformance Real Estate AdvisorsMore Info
331-307-7194

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