RARE North Suburb Rowhouse Style 20-Unit
2803 Galilee Ave. Zion IL 60099
Pricing/Terms Explained
$2,300,000
$115,000 / Unit
60
Beds
40
Baths
25,630
Sq. Ft.
1963
Yr. Built
100%
Occupancy
30 Spaces
2 Stories
Electric Heat
Owned Laundry
Street View
Property Summary
About The Property
Type
Multifamily
In Place NOI
$149,200
Target CAP Rate
6.5%
Today's Market Value
$2,488,000
Target Purchase Price
$2,300,000
Units
20
Projected NOI
$282,100
Market CAP Rate
6%
Value w/Market Rents
$4,700,000
Cost Per Unit
$115,000
5 exceptional brown brick buildings located across the street from Herman Park. The buildings features spacious three-bedroom apartments with 1.5 baths in each unit. Every unit is a row house (townhouse) style unit with a full basement. All tenants are separately metered for gas and electric. Buildings have no common areas which allows for low landlord expenses.
About the Neighborhood
Zion is a B+ Neighborhood in Northern Illinois that borders Lake Michigan and Wisconsin. Demand for rental units is high in this area due to low inventory, access to well known Lake Michigan beaches (Beach State Park), and various natural parks.
Located in Lake County, Zion owners enjoy the benefit of strong rental rates without the high real estate tax burdens of Cook County.
Due
Diligence
Documents
Chase Real Estate conducts a thorough document review on every property. For access to current leases for this property please fill out our Leases Request Form.
