top of page

Northwest Suburb 8-Unit Multifamily Property

748 E 5th Ct. Des Plaines IL 60016

Pricing/Terms Explained 

$900,000

$112,500 / Unit

icons-beds.png

9

Beds

8

Baths

-

Sq. Ft.

1959

Yr. Built

100%

Occupancy

8 Spaces

2 Stories

Electric Baseboard

Paid, On Site

Street View

Property Summary

About The Property

Type

Multifamily

In Place NOI

$57,728

Target CAP Rate

5.9%

Today's Market Value

$1,170,000

Target Purchase Price

$900,000

Units

8

Projected NOI

$85,356

Market CAP Rate

4.5%

Value w/Market Rents

$1,890,000

Cost Per Unit

$112,500

Incredible opportunity to own this Class B+ brick 8-flat in revered Des Plaines, IL. The property is located on a secluded, tree-lined street with 8 private parking spaces and ample street parking. The building consists of 7 one-beds and 1 two-bed units all in good condition. Newer mechanical units and a coin operated laundry in the basement. Current rents are strong but are still below market, allowing for the investor to increase the value of the property with simple rent increases. Exterior entrances mean minimal common area expenses. Fantastic stable investment in a rock solid neighborhood just minutes from downtown Chicago.

About the Neighborhood

Des Plaines is a highly decorated suburb of Chicago, just north of O’Hare International Airport. Founded in 1869, it experienced rapid growth after World War II and with the opening of O’Hare, one of the busiest airports in the world. Major employers include Universal Oil Products, Holy Family Hospital and River’s Casino, the closest casino to downtown Chicago. Des Plaines is home to Ray Kroc’s first ever McDonald’s store and was also the main location for the 1985 hit film The Breakfast Club. Today it is known as a busy middle-upper class suburb with incredible proximity to downtown Chicago.

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.

dd-button-rent-roll.png
dd-button-expenses.png
dd-button-utility-table.png
dd-button-sales.png
dd-button-rentals.png
dd-button-report.png
dd-button-leases-request-form.png
dd-button-calculator.png
bottom of page