37 W 14th Pl - Apartments FOR SALE


Chicago Heights, IL 60411
$550,000 USD
773-251-7342
37 W 14th Pl, Chicago Heights, IL for Sale
$550,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

37 W 14th Pl
Chicago Heights, IL 60411


HIGHLIGHTS

  • 20-unit multifamily portfolio located across Chicago Heights and Sauk Village
  • Value-add opportunity at 37-39 W. 14th Place, where many units have not yet undergone the same level or renovation as the remainder of the portfolio
  • Convenient access to I-394, I-57, and U.S. Route 30 providing connectivity throughout the greater Chicago metropolitan area

OVERVIEW

37-39 W. 14th Place is a well-located 6-unit multifamily property situated in Chicago Heights, just off Route 30 - Lincoln Highway with convenient access to retail corridors, public transportation, and major south suburban employment centers. The property benefits from its proximity to Prairie State College, Franciscan Health Olympia Fields, and nearby industrial and logistics hubs that continue to support workforce housing demand throughout the area. The property features a unit mix of (1) two-bedroom / one-bathroom unit and (5) three-bedroom / one-bathroom units, offering larger floor plans that appeal to long-term tenants and families. While the interiors have seen more limited renovations compared to other properties in the portfolio, the asset has maintained stable occupancy and presents investors with future value-add potential through continued unit upgrades. Recent capital improvements include a newer boiler and extensive tuckpointing work, helping support the long-term physical integrity of the property. Ownership currently provides heat, while tenants are responsible for electric. The asset offers investors an opportunity to acquire a stable workforce housing property in a strong south suburban location with operational upside over time.

FOR SALE DETAILS

PRICE

$550,000 USD

PRICE/SF

$70 USD /SF

# OF UNITS

6

PRICE/UNIT

$91,667

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1923

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,373 SF

ZONING

R

APN/PARCEL ID

32-20-400-037-0000

ASK ABOUT THIS PROPERTY

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

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

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