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 interiorhallways 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.

Qualifi ed 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.

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

Key Details

Transaction Date
2024
Number of Units
Twenty-Four (24)
Submarket
Oak Lawn