Property Overview

Interra Realty has been exclusively engaged to market 415 S. Lombard Avenue for sale. The subject investment property is a 20 unit condominium building located in Oak Park.

The property consists of six (6) - one bedroom and 14 - two bedroom, one and a half bath apartments. The second and third floor units are heated with hot water baseboard heat and the first floor units through radiant heat (halls heated through baseboard). The units are cooled through individual sleeve A/C units. Hot water is provided by 2 central hot water heaters. Other common elements include an elevator, 20 car parking lot, and laundry room with 3 washers and 3 dryers.

This is an opportunity for an investor to purchase a well located modern style, elevator building in Oak Park with a great unit mix and on-site parking.

Highlights

  • Condo Deconversion Sale of 20 Units
  • Great Unit Mix with Mostly 2 Bed / 1.5 Bath Units
  • Elevator Building with 20 Parking Spaces
  • Walking Distance to CTA Green & Blue Line or Madison Avenue Bus Line

Key Details

Asking Price
$3,300,000
Number of Units
20
Lot Size
20,000 SF
Building Size
18,200 SF
Year Built
1968
Pro Forma Cap Rate
7.24%