Property Overview

Interra Realty has been exclusively engaged to market for sale the multifamily assets located at 355, 357, and 359 W. Hawthorne Circle in Mount Prospect, Illinois. The subject investment opportunity consists of three (3) 6-unit brick buildings in the Oak Terrace association complex. The properties are well positioned in Mount Prospect approximately 20 miles northwest of the Downtown Chicago Loop. This location offers abundant retail amenities and a Metra Train Station in Downtown Mount Prospect approximately 2 miles north.

The unit mix comprises nine (9) one-bedroom and nine (9) two-bedroom apartments. The units feature spacious layouts and individual balconies in twelve (12) of the units. Remodels have been completed at 16/18 units with updated kitchens and bathrooms. The buildings have been well-maintained with most windows replaced and ~5 year old roofs. Additionally, the properties are within a (33) building master association with dues covering landscaping, snow plowing, and garbage

Highlights

  • Rare Scale within Desirable Northwest Suburb Rental Market
  • Immediate Upside on In-Place Rents
  • Renovated Units and Individual Balconies
  • Off -street Parking and Common Laundry
  • Recently Completed Capital Improvements

Key Details

Sale Price
$2,610,000
Total Number of Buildings
Three (3)
Total Number of Units
Eighteen (18) Total Units; Six (6) Units per Building
Year Built
1978