Property Overview
Interra Realty is pleased to present the multifamily properties at 501-509 Chicago Road in Thornton, Illinois for sale. The subject investment opportunity consists of two buildings with 34 units total and 1:1 off street parking. The buildings are positioned in Thornton, Illinois which is approximately 22 miles South of the downtown Chicago Loop. This location offers commuters convenient access downtown via the Hazel Crest Metra Train Station, Interstate 294, and many bus stops nearby.
The unit mix comprises of (4) studios, (20) 1-bedrooms, and (10) 2-bedroom units. 20 out of the 34 units are fully rehabbed with a proven business plan in-place to increase revenue and finish renovating the remaining classic units as tenants move out. The units are heated by hot water baseboard heat and cooled via individual wall A/C units. There is a common laundry room at each building providing supplemental income.
Highlights
- Well-Maintained & Remodeled 2 Building Portfolio
- Flexicore Construction
- Immediate Economies of Scale in a Low Sale Velocity Submarket
- Ability to Rehab the Remaining 14 Classic Units and Increase Revenue
- Alongside I/80 and Walking Distance to the Forest Preserve & Town’s
Elementary School