950 Washington Blvd - Apartments FOR SALE


Oak Park, IL 60302
$6,199,000 USD
950 Washington Blvd, Oak Park, IL for Sale
$6,199,000 USD
Apartments - FOR SALE
1/14
null | 6.75% Cap Rate

950 Washington Blvd
Oak Park, IL 60302


OVERVIEW

We are pleased to offer a rare opportunity to acquire a well-maintained, midcentury condominium building through a condo deconversion sale. 950 Washington Condominiums is a 28-unit courtyard building in Oak Park, a leafy municipality with a quiet suburban feel, yet still directly adjacent to Chicago. The building was completed in 1965. 950 Washington consists of seven 1BD/1BA units, fourteen 2BD/1BA units, four 3BD/1.5BA units, and three 3BD/2BA.There are 38 parking spots (28 garage spots and 10 surface spots).The property is in Oak Park, a leafy, walkable suburb home to a thriving artistic community as well as a variety of galleries, boutiques and restaurants. With no major construction projects underway, supply-side pressure is not an issue in this submarket. The lack of available units should keep rent growth at or above its current level in the coming quarter. Access to the property is superb with close proximity to the Oak Park Ave CTA Blue Line stop, the Oak Park Metra Station, and near the Eisenhower Expressway (I-290).

FOR SALE DETAILS

PRICE

$6,199,000 USD

PRICE/SF

$246 USD /SF

# OF UNITS

28

PRICE/UNIT

$221,393

CAP RATE

6.75%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1963

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,606 SF

ZONING

-

APN/PARCEL ID

16-07-317-026-1001,16-07-317-026-1004,16-07-317-026-1007,16-07-317-026-1017,16-07-317-026-1026,16-07-317-026-1027,16-07-317-026-1028

ASK ABOUT THIS PROPERTY

A.J. ManaseerInhabit Realty Group, LLCMore Info

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A.J. ManaseerInhabit Realty Group, LLCMore Info

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