- List Price $3,000,000
- Price / Unit $100,000
- Property Type Multifamily
- Units 30
- Current Rents $366,720
- Pro Forma Rents $396,000
- In Place NOI $221,443
- Projected NOI $246,721
- Target CAP Rate 7%
- Market CAP Rate 5%
- Today's Market Value $3,000,000
- Value w/Market Rents $3,500,000
*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.
- 1
- 30
- 8972
- 1926
- 100%
- Street
- 3
- Boiler Heat
- Window Units
- None
1
30
8972
- 1926
- 100%
- 1
- 3
- Boiler Heat
- Boiler Heat
- None
About the property
Recently renovated and fully re-leased to quality tenants, this striking 30-unit architectural brick apartment building offers a rare investment opportunity in the high-demand Chicago suburb of Berwyn. The property features 29 spacious studio units and 1 one-bedroom unit, with a straightforward path to converting the studios into one-bedrooms—presenting a clear value-add strategy for increased rental income. Ideally situated just 1.5 blocks from the Berwyn Metra station and steps from a vibrant retail corridor, the building benefits from strong transit access and neighborhood amenities. Major capital improvements include a new roof, recent brick tuckpointing, and an upgraded heating system with efficient in-unit electric baseboard heating. IL Licensed Broker has a partial interest of the LLC that holds title to the property.
About the neighbourhood
- Located just 10 miles southwest of the Chicago Loop, the City of Berwyn is a thriving community of over 56,000 residents with a strong historical and economic foundation. Once known for having the highest concentration of financial institutions globally during the 1990s, Berwyn has since diversified its economic base. Today, it is anchored by key assets including the bustling Cermak Plaza retail corridor, a growing live entertainment and hospitality sector, and the expansive Loyola MacNeal Hospital campus. Berwyn’s strategic proximity to downtown Chicago, combined with its lower cost of entry compared to neighboring urban markets, makes it a compelling location in a well-connected suburban setting.
Municipality - Investor Guide
Berwyn
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: N | Cost: None | Required: Yes | Required: Yes |
| Seller: Y | Cost: Yes | Cost: $50.00 | Cost: Varies |
| Notes | |||
| Final water bill must be paid prior to closing. | |||
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
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Year 2 Pro Forma
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Debt Service
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Mortgage Calculator
- Down Payment
- Loan Amount
- Monthly Mortgage Payment
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Utility Table
Total Yearly Utitlity Cost: $29,108.00
*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
| 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|
| Tax Amount | $38,916.83 | $70,757.87 | $43,051.49 | $45,448.68 |
| YOY Tax Change ($) | -$31,841.04 | +$27,706.38 | -$2,397.19 | +$2,668.45 |
| YOY Tax Change (%) | -45.00% | +64.36% | -5.27% | +6.24% |
| Current Assessed Value | $197,174 | Source - Public Record For more information on assessments, property taxes, and tax appeals visit: Property Taxes | Assessed - Land | $8,972 | Assessed - Improved | $188,202 |
For more information on assessments, property taxes, and tax appeals visit: Property Taxes
Walkscore
Nearby
- Arts & Entertainment
-
Bounce Sports Corporation (0.07 mi)
-
Brows By Lucy (0.08 mi)
-
Mindful Wellness (0.1 mi)
- Education
-
CORE Learning Center (0.1 mi)
-
Concordia Little Lambs Pre-School & Kindergarten (0.2 mi)
-
Schools Public (0.23 mi)
- Food
-
La Malquerida Latin Fusion (0.02 mi)
-
Media Noche Cafe (0.06 mi)
-
Atara Mart (0.06 mi)
- Health & Medical
-
Wainer Gary MD (0.05 mi)
-
Wainer Bradford MD (0.05 mi)
-
Destani Nejat MD (0.05 mi)
Contact Information
- List Price $3,000,000
- Property Type Multifamily
- Current Rents $366,720
- In Place NOI $221,443
- Target CAP Rate 7%
- Today's Market Value $3,000,000
- Price / Unit $100,000
- Units 30
- Pro Forma Rents $396,000
- Projected NOI $246,721
- Market CAP Rate 5%
- Value w/Market Rents $3,500,000
*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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