Rare 30-Unit Multifamily Building

3302 Kenilworth Ave. Berwyn IL 60402
  • $750,000
  • -
  • / Unit

Rare 30-Unit Multifamily Building

3302 Kenilworth Ave. Berwyn IL 60402
Yearly Income $370,380
Yearly Expenses $150,013
Current Rents $370,380
Pro Forma Rents $459,000
  • 1
  • Bedrooms
  • 30
  • Bathrooms
  • 23000
  • Sq Ft
  • 1927
  • Year Built
  • 87%
  • Occupancy
  • 4
  • Parking
  • 4
  • Stories
  • Electric BB
  • Heating System
  • Window Units
  • Cooling System
  • None
  • Laundry
  • 1
  • Bedrooms
  • 30
  • Bathrooms
  • 23000
  • Sq Ft
  • 1927
  • Year Built
  • 87%
  • Occupancy
  • 1
  • Parking
  • 4
  • Stories
  • Electric BB
  • Heating System
  • Electric BB
  • Cooling System
  • None
  • Laundry

About the property

Price reflects the opening bid for the Crexi Auction Event. To register please click here.

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. IL Licensed Broker has a partial interest of the LLC that holds title to the property.

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
Expenses & UT
PCR
Sales Comps
Market Report

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

Monthly
  • Down Payment
  • Loan Amount
  • Monthly Mortgage Payment
  • Monthly Property Tax
  • Monthly Property Insurance
  • Monthly HOA Fees
$
%
%
$
$
$

Utility Table

Location
Responsibility
Meter number
Usage TTM
Rate
Common Areas
L
-
-
-
Units
T
-
-
-
Source
Commonwealth Edison
Notes
-
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:  $30,650.00

*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)
Average 11 reviews
Berwyn Development Corporation (0.13 mi)
Exceptional 1 reviews
Andre Design (0.26 mi)
0 reviews
Education
CORE Learning Center (0.1 mi)
Good 1 reviews
Concordia Little Lambs Pre-School & Kindergarten (0.2 mi)
0 reviews
Schools Public (0.23 mi)
0 reviews
Food
La Malquerida Latin Fusion (0.02 mi)
Exceptional 69 reviews
Media Noche Cafe (0.06 mi)
Exceptional 31 reviews
Atara Mart (0.06 mi)
0 reviews
Health & Medical
Berndt Sheila MD (0.05 mi)
0 reviews
Horan Rose MD (0.05 mi)
0 reviews
Primary Care Associates (0.05 mi)
Good 40 reviews

Contact Information

Melissa Topolewski

Enquire About This Property

Similar Listings

Compare listings

Compare
Melissa Topolewski
  • Melissa Topolewski
Property Pricing

Based on Citypoint’s communication with the seller, the price point listed is a price that the seller should be willing to transact at. Any terms for, or against, the seller can help/hurt this price level.

Many sellers have loan balances that need to be paid off at closing. If the seller’s net proceeds after commissions, taxes, closing fees, rent credits, security deposit credits, etc fall below their current loan balance the price will most likely be denied by the seller.

Bid prices are subject to final seller confirmation. Seller confirmation is subject to a final buyer and seller signed contract.

Multiple bids from multiple parties may exist.

Submit An Offer

Fill out Citypoint‘s Submit offer Form below. When complete a Citypoint representative will contact you to discuss.

Your Details

Your Mailing Address

Property Address

Buyer Initial
Clear
Buyer Signature
Clear

LOI Submission Form

Fill out Citypoint‘s LOI Request Form below. When complete a Citypoint representative will contact you to discuss.

Buyer Signature
Clear

Off-Market Application Form

Fill out Citypoint‘s Off-Market Appointment Request Form below. When complete a Citypoint representative will contact you to discuss.

Reserve property

Fill out Citypoint’s Reserve Property Form below. When complete a Citypoint representative will contact you to finalize the reservation.

OFF MARKET
INVENTORY

Fill out the application below to receive access to our off-market inventory & alerts on new off-market properties.

Why do I need to complete an investor application?

Many of our sellers choose to work with Citypoint due to the discretion provided when listing their property. They prefer not to alert tenants and/or neighbors that the property is being sold.​

They also trust Citypoint in bringing qualified investors that are ready, willing and able to buy properties. This ensures an efficient transaction process for both the buyer and the seller.

Already working with a Citypoint team member? No problem! Contact your team member to receive the most up to date off-market inventory.

Contact Us

Fill out Citypoint’s Contact Form below. When complete a Citypoint representative will contact you to answer your questions.