Property Overview
Interra Realty has been exclusively engaged to market a 3-building, 24-unit apartment portfolio located at 10310-10326 Mayfield & 10310 Mansfield in the Southwest Suburb of Oak Lawn.
The unit mix consists of twenty-one (21) two-bedroom / one-bath apartments, two (2) one-bedroom / one-bath apartments, and one (1) four-bedroom / two-bath apartments.
The properties have been well maintained throughout the course of ownership with 50% of the units renovated, featuring laminate and vinyl plank flooring, laminate countertops, new cabinets and updated bathroom vanities. Capital improvements to the properties include; replacing water tanks, patching up work to the roofs, new windows (associated with updated units), and re-painted interior hallways with new carpeting.
The masonry-constructed buildings feature secured entrances, intercom system, dedicated storage locker room, eight (8) garage spaces and forty-eight (48) exterior parking lot spaces, and common laundry room.
Qualified investors have an opportunity to acquire a rarely available portfolio in one of the most sought out locations in the Suburbs of Chicago with the ability to renovate the remaining units and achieve market rents.
Learn more about this transaction here.
Highlights
- Well-Maintained 3 Building Portfolio with Primarily Two-Bedroom Layouts
- Immediate Economies of Scale in a Low Sale Velocity Submarket
- Ability to Increase Rents by 27% Post-Renovation
- (8) Garage Spaces and (48) Exterior Spaces
- Walking Distance to the Stony Creek Golf Course Complex & In close proximity to the Oak Lawn Park District