- List Price $539,900
- Price / Unit $89,983
- Property Type Multifamily
- Units 6
- Current Rents $78,300
- Pro Forma Rents $86,700
- In Place NOI $48,201
- Projected NOI $56,601
- Target CAP Rate 8.9%
- Market CAP Rate 6.5%
- Today's Market Value $713,000
- Value w/Market Rents $976,900
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
- 11
- 6
- 6145
- 1968
- 80%
- 6
- 3
- Boiler Heat
- Varies
- Common, Paid
11
6
6145
- 1968
- 80%
- 11
- 3
- Boiler Heat
- Boiler Heat
- Common, Paid
About the property
Discover a prime investment opportunity at 12926 Page Court, Blue Island, IL, a well-maintained 6-unit multifamily property located on a quiet cul-de-sac. This property features a strong rental history, with five amazing tenants and rents currently well below market value, presenting significant income growth potential. Two units have been brought to market rent, leaving room for tremendous upside in the other units. The building is in excellent condition with regular updates, ample tenant parking and coin laundry in the building. Situated in a desirable location close to amenities, parks, schools, and public transportation, with easy access to major highways, this property ensures low vacancy risk and high demand. Don’t miss this exceptional investment opportunity to acquire a stable, income-producing asset with substantial room for growth.
About the neighbourhood
- Welcome to Blue Island, Illinois, a charming and historically rich city located just 16 miles south of downtown Chicago. This vibrant community, established in 1835, offers a unique blend of historic charm and modern amenities, making it an ideal place to call home. Blue Island is renowned for its strong sense of community and cultural diversity. Residents enjoy a variety of annual events, festivals, and cultural celebrations that foster a welcoming and lively atmosphere. Outdoor enthusiasts will appreciate Blue Island’s abundant recreational options. The city boasts numerous parks and trails, including the popular Memorial Park, which features sports fields, playgrounds, and picnic areas. The nearby Calumet River offers opportunities for hiking, biking, and water-based activities, ensuring there is always something to do for nature lovers and active families.
Municipality - Investor Guide
Blue Island
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: N/A | Cost: - | Required: Yes | Required: Yes |
| Seller: N/A | Cost: - | Cost: $300.00 | Cost: Varies |
| Notes | |||
| Final reading on the water account is required to be requested at least 1 week prior to closing. Final water account payment to be paid in full prior to closing. Water Department (708) 597-8605. Any outstanding fines/liens due to the City of Blue Island are required to be paid in full prior to the closing on the property. | |||
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
Property Financials
View current and future return metrics based on customizable inputs. "Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs.
Property Current
This column shows the current financial state of the subject property. Some of these inputs may be estimations.
Year 2 Pro Forma
This column is based off of market rents and assumes proper property performance.
Debt Service
This column allows the user to add custom financing scenarios.
Mortgage Calculator
- Down Payment $107,980.00
- Loan Amount $431,920.00
- Monthly Mortgage Payment $2,589.58
- Monthly Property Tax $1,128.95
- Monthly Property Insurance $327.16
- Monthly HOA Fees $0.00
Utility Table
Total Yearly Utitlity Cost: $4,396.00
*This Utility Table does not include snow removal or lawn care costs, if any. For more details on snow/lawn expenses, see the "Expenses" attachment located under the "Property Documents" section.
Property Taxes
Currently No Tax data found for this property. Please Check back later.
Walkscore
Nearby
- Arts & Entertainment
-
Walgreens (0.1 mi)
-
Braids & Weaves by Fatima (0.38 mi)
-
Creative Expressions (0.4 mi)
- Education
-
St Donatus Parish School of Religion (0.32 mi)
-
Environmental Technical Institute (0.41 mi)
-
The B A C Room (0.46 mi)
- Food
-
Walgreens (0.1 mi)
-
Edible Arrangements (0.13 mi)
-
Taco Bell (0.2 mi)
- Health & Medical
-
Walgreens (0.1 mi)
-
Midwest Express Clinic (0.11 mi)
-
Zera Ministries (0.12 mi)
Contact Information
- List Price $539,900
- Property Type Multifamily
- Current Rents $78,300
- In Place NOI $48,201
- Target CAP Rate 8.9%
- Today's Market Value $713,000
- Price / Unit $89,983
- Units 6
- Pro Forma Rents $86,700
- Projected NOI $56,601
- Market CAP Rate 6.5%
- Value w/Market Rents $976,900
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
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