7349 W 57th St - Apartments FOR SALE


Summit, IL 60501
$1,800,000 USD
630-320-9963
7349 W 57th St, Summit, IL for Sale
$1,800,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

7349 W 57th St
Summit, IL 60501


HIGHLIGHTS

  • Proximity to Transportation – Less Than 5 Miles From Midway Airport, 13 Miles Southwest of Downtown Chicago
  • Proximity to Transportation – Less Than 5 Miles From Midway Airport, 13 Miles Southwest of Downtown Chicago
  • Significant Renovations – 15 of 17 Units Rehabbed
  • Operational Efficiency – Electric Baseboard Heat Reduces Expenses
  • Strong Cash Flow – Stable Income With Rental Upside Potential

OVERVIEW

Essex Realty Group, LLC. has been exclusively engaged to market for sale 7349 W 57th St, located just 13 miles southwest of downtown Chicago. This 17-unit apartment building features all 1-bedroom/1-bathroom units, with 15 of the 17 units recently rehabbed. The building operates with electric baseboard heat, significantly reducing operating expenses. Current rents provide a strong 7.12% capitalization rate and a Gross Rent Multiplier (GRM) of 7.78, offering stable existing cash flow. It's convenient location less than 5 miles from Midway Airport makes it appealing for tenants looking for easy access to transportation and downtown Chicago.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$129 USD /SF

# OF UNITS

17

PRICE/UNIT

$105,882

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Midway 1 Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1961

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

R-1

APN/PARCEL ID

18-13-217-043-0000

ASK ABOUT THIS PROPERTY

Will CrossenEssex Realty Group, LLCMore Info
630-320-9963

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Will CrossenEssex Realty Group, LLCMore Info
630-320-9963

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