Rare 30-Unit Multifamily Building

3302 Kenilworth Ave. Berwyn IL 60402
  • $2,900,000
  • $96,666
  • / Unit

Rare 30-Unit Multifamily Building

3302 Kenilworth Ave. Berwyn IL 60402
Yearly Income $342,540
Yearly Expenses $145,276
Current Rents $342,540
Pro Forma Rents $363,600
  • 1
  • Bedrooms
  • 30
  • Bathrooms
  • 20000
  • Sq Ft
  • 1927
  • Year Built
  • 100%
  • Occupancy
  • 4
  • Stories
  • Boiler Heat
  • Heating System
  • Window Units
  • Cooling System
  • None
  • Laundry
  • 1
  • Bedrooms
  • 30
  • Bathrooms
  • 20000
  • Sq Ft
  • 1927
  • Year Built
  • 100%
  • Occupancy
  • 1
  • Parking
  • 4
  • Stories
  • Boiler Heat
  • Heating System
  • Boiler Heat
  • Cooling System
  • None
  • Laundry

About the property

Recently improved and re-leased to quality tenants. Beautiful 30-unit architectural brick apartment building in the Chicago suburb of Berwyn. The building consists of 29 Studios and 1 One-Bedroom units. The studios are large and could easily be converted to all one-bedroom units as a relatively simple value-add play. It is located only 1.5 blocks from the Berwyn Metra station and is adjacent to a lively retail district. The property has had a new roof installed and the brick has been tuckpointed within the past 5 years. The building heating system has been converted to in unit electric baseboard heating. Owned by IL Licensed RE Broker.

About the neighbourhood

  • With a population of over 56,000, the City of Berwyn lies only 10 miles southwest of the Chicago Loop. A historic town in its own right, Berwyn was reported to have the highest concentration of financial institutions in the world in the 1990's. Today it's economy is primarily propped up by retail via Cermak Plaza, popular music venues and the Loyola MacNeal Hospital campus. Its proximity to downtown Chicago makes Berwyn an attractive option for those seeking a suburban lifestyle while still remaining close to the city.

Municipality - Investor Guide

Berwyn
Transfer StampsPre Sale InspectionYearly Rental Inspection
Buyer: NCost: NoneRequired: YesRequired: Yes
Seller: YCost: YesCost: $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

Rent Roll_
Expense & Utility_
PCR
Sales Comps
Rental Comps
Market Report

Property Financials

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Year 2 Pro Forma

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Mortgage Calculator

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  • Down Payment
  • Loan Amount
  • Monthly Mortgage Payment
  • Monthly Property Tax
  • Monthly Property Insurance
  • Monthly HOA Fees
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Utility Table

Location
Responsibility
Meter number
Usage TTM
Rate
Common Areas
L
-
-
-
Units
T
-
-
-
Source
Commonwealth Edison
Notes
Landlord pays electric for a handful of units based on subsidy arrangement. Inquire for more info.
Location
Responsibility
Measured In
Usage TTM
Cost
Common Areas
L
Gallons
-
-
Units
L
Gallons
-
-
Source
Landlord Estimate
Notes
Landlord is responsible for in unit water expense.
Location
Responsibility
Measured In
Usage TTM
Cost Per Unit
Common Areas
L
Therms
-
-
Units
L
Therms
-
-
Source
Landlord Estimate
Notes
In 2024 the building heating system has been converted from gas boiler to in unit baseboard electric units.
Location
Responsibility
Container Size
Monthly Rate
Common Areas
L
4 Cubic Yards
$109
Units
L
4 Cubic Yards
$109
Source
Landlord Provided
Notes
Two 4 cubic yard containers are on site at the rear of the property.
Total Yearly Utitlity Cost:  $27,879.00

*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

2022202120202019
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$160,513
Source - Public Record

For more information on assessments, property taxes, and tax appeals visit: Property Taxes

Assessed - Land$17,944
Assessed - Improved$142,569
Source - Public Record

For more information on assessments, property taxes, and tax appeals visit: Property Taxes

Walkscore

Nearby

Arts & Entertainment
Baila Conmigo Dance With Me (0.11 mi)
Good 9 reviews
Berwyn Development Corporation (0.13 mi)
Exceptional 1 reviews
The Outtaspace (0.14 mi)
Good 16 reviews
Education
CORE Learning Center (0.1 mi)
Good 1 reviews
St Leonard School (0.32 mi)
Exceptional 1 reviews
Happy Bear Child Development Center (0.39 mi)
Good 6 reviews
Food
Atara Mart (0.06 mi)
0 reviews
Taz Deli (0.06 mi)
Good 5 reviews
Little Fenix Restaurant (0.06 mi)
0 reviews
Health & Medical
Destani Nejat MD (0.05 mi)
Poor 1 reviews
Primary Care Associates (0.05 mi)
Good 37 reviews
Balance Body Therapy (0.06 mi)
Exceptional 9 reviews

Contact Information

Melissa Topolewski

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