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$ 1,350,000
Est. payment /mo
New
1246 Prairie Avenue Glendale Heights, IL 60139
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12370280
Year Built 1973
Annual Tax Amount $24,942
Tax Year 2023
Lot Dimensions 5.35
Property Sub-Type Multi Family 5+
Property Description
7-Unit Condo Rental Portfolio - Glendale Heights, IL Addresses Included: 1246 Prairie Ave Unit A 1277 Prairie Ave Unit C 496 Darlene Ln Unit B 488 Darlene Ln Unit D 495 Sidney Ave Unit D 1295 Pearl Ave Unit D 418 James Ct Unit B This is a rare opportunity to acquire a stabilized 7-unit 2-bed/1-bath rental portfolio located across multiple buildings in a well-established residential pocket of Glendale Heights, IL. These condo units have been under the same long-term ownership for approximately 20 years, with ownership now looking to cash out of a legacy investment. All seven units are fully leased with long-term, stable tenants in place. These "sticky" renters have expressed no desire to relocate, providing a reliable and consistent income stream. Rents are currently below market, offering an immediate value-add opportunity through strategic rent increases without the need for major renovations. Investment Highlights: (7) Two-Bedroom / One-Bathroom Units Fully Occupied with Leases in Place Strong In-Place Cash Flow Opportunity to Raise Rents to Market Levels Proven Tenant Retention History Professionally Managed Community This is a turnkey portfolio perfect for investors seeking immediate cash flow with upside potential in a high-demand rental market. Whether you're a seasoned operator looking to expand your portfolio or a new investor seeking stable returns, this Glendale Heights package checks all the boxes.
Location
State IL
County Dupage
Interior
Fireplace N
Exterior
View Y/N true
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Listed by Rocco Zaccaro • Coldwell Banker Realty