474 W 14th Pl - Apartments FOR SALE


Chicago Heights, IL 60411
$675,000 USD
312-960-6759
474 W 14th Pl, Chicago Heights, IL for Sale
$675,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

474 W 14th Pl
Chicago Heights, IL 60411


HIGHLIGHTS

  • 20-unit multifamily portfolio located across Chicago Heights and Sauk Village
  • Favorable utility structure with tenants paying electric throughout the portfolio, and tenants at 474 W. 14th Place additionally responsible for heat
  • Properties located within approximately 8 miles of one another, allowing for streamlined management and operational efficiencies

OVERVIEW

474 W. 14th Place is a well-maintained 8-unit multifamily property located in Chicago Heights, just off Route 30 - Lincoln Highway, with convenient access to retail, dining, public transportation, and major regional employers. The property benefits from its proximity to Prairie State College, Franciscan Health Olympia Fields, and major industrial and logistics corridors throughout the south suburbs. The property features a unit mix of (1) one-bedroom / one-bathroom unit and (7) two-bedroom / one-bathroom units, offering strong appeal to the area’s workforce housing tenant base. The apartment units have been renovated with updated kitchens, flooring, paint, bathrooms, and other interior improvements, providing investors with strong in-place cash flow and limited deferred maintenance. Recent capital improvements include a newer parking lot and hot water heater, helping support the long-term condition of the asset. Tenants are responsible for their own heat and electric, helping reduce operating expenses for ownership. The asset offers an attractive combination of stable occupancy, operational efficiency, and long-term rental demand within an established workforce housing market.

FOR SALE DETAILS

PRICE

$675,000 USD

PRICE/SF

$109 USD /SF

# OF UNITS

8

PRICE/UNIT

$84,375

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,504 SF

ZONING

R-3, Chicago Heights

APN/PARCEL ID

32-19-404-010-0000

ASK ABOUT THIS PROPERTY

Maira ManciaSVN | Chicago CommercialMore Info
312-960-6759

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Maira ManciaSVN | Chicago CommercialMore Info
312-960-6759

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