11-Unit Apartment Building

Description:

Presenting a prime investment opportunity, this 7,975 SF Low-Rise/Garden multifamily property, boasting 11 units, embodies both potential and history. Built in 1963, the property offers a solid foundation for a lucrative venture in the thriving Hillside area. With a focus on maximizing rental income, this property is an ideal choice for the discerning investor seeking a multifamily asset with long-term value. This property represents a compelling prospect for those looking to capitalize on the multifamily market in Hillside.

Located at the junction of I-88, I-290 and I-294, and adjacent to Oak Brook, this convenient location is at the very center of the Chicagoland area. Nestled into a quiet neighborhood surrounded by single-family homes and the Mount Carmel Catholic Cemetery to the south. Abundant shopping and employment are just a few minutes' drive from the property, which offers 14 onsite parking spaces in addition to abundant street parking. The property is less than a 20-minute drive to either Downtown Chicago or O’Hare International Airport.

Heating system is hot water from the boiler. Controls were added to the boiler to regulate the water temperature based on the outside temperature.
o Heat distribution on the lower-level apartments is distributed via wall-mounted baseboard heating with fin tube.
o Heat distribution on the upper-level apartments is distributed via pipes embedded in the concrete floor slab.
o Every apartment is fitted with a thermostat that connects to a gate valve in the heating pipe which provides the tenant with limited control of heat within their unit.

Air conditioning is provided via a thru-the-wall air conditioner unit in each apartment.

Electric
o Common Areas are separately metered (exterior lighting, Laundry/Mechanical Room lighting & power).
o Each apartment is separately metered to the tenants’ accounts.
Gas:
o The gas service is on the landlord’s account and covers the Laundry/Mechanical Room and gas service to the tenants’ stoves.

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