Rare 30-Unit Multifamily Building
3302 Kenilworth Ave. Berwyn, IL 60402
Pricing/Terms Explained
$3,050,000
$101,666 / Unit
30
Beds
30
Baths
20,000
Sq. Ft.
1927
Yr. Built
100%
Occupancy
0
4 Stories
Boiler Heat
Paid, On Site
Street View
Property Summary
About The Property
Type
Multifamily
In Place NOI
$157,318
Target CAP Rate
5.2%
Today's Market Value
$3,140,000
Target Purchase Price
$3,050,000
Units
30
Projected NOI
$329,735
Market CAP Rate
5%
Value w/Market Rents
$6,590,000
Cost Per Unit
$101,666
Beautiful 30-unit architectural brick apartment building in the Chicago suburb of Berwyn. The building consists of 28 Studios and 2 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.
About the Neighborhood
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.
Due
Diligence
Documents
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