Melrose Park, IL 60160,171 N 25th AVE
Melrose Park, IL 60160,171 N 25th AVE
Melrose Park, IL 60160,171 N 25th AVE
$1,500,000
Est. payment /mo
$1,590,000
5.7%
Est.Price: ?

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0.42 Acres Lot
SOLD DATE : 05/20/2024

Key Details

Sold Price $1,500,000

Property Type Multi-Family

Sub Type Multi Family 5+

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 11796776

Sold Date 05/20/24

Maintenance Fees $10,300

Year Built 1945

Annual Tax Amount $34,993

Tax Year 2021

Lot Size 0.420 Acres

Lot Dimensions 135X135

Property Description

Buyer suffered cold feet is your opportunity now to be the new buyer/owner. **Price Reduction** Prime Melrose Park Multi-Family consisting of a 2-story brick & stone building containing 20 residential apartments (made up of 10 one-bedroom and 10 two-bedroom apartments). All have leases mostly in place early 2024. Has 22 parking spaces. Healthy generating NOI and with further room to grow by decreasing expenses and bringing units closer to market rent. In addition, the 8,000 square foot basement can be sub divided for further rental income to either tenant storage, or two businesses. Plus, even more additional income is available by finishing the coin operated laundry room on 1st floor by adding 2 washers / 2 dryers, and if separate office space is rented out. This property is ideally located with many employment opportunities, retail, and restaurants all within short walking distance. If you're looking to add a cash cow to your portfolio, this is the one.

Location

State IL

County Cook

Area Melrose Park

Zoning MULTI

Interior

Cooling Wall Sleeve

Fireplace N

Exterior

Utilities Available Water-Municipal, Cable Available

Roof Type Composition,Membrane,Rubber,Varies

Building

Level or Stories 2

Structure Type Brick,Stone

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Midwest Real Estate Data (MRED) IDX
Listed by Miguel Ruiz • Baird & Warner
Bought with Basel Tarabein • RE/MAX At Home

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Jaime Birks

+1(708) 925-2352

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