501 W Euclid Ave, Arlington Heights, IL 60004

Euclid Place Apartments is located at 501-551 Euclid Place in Arlington Heights, IL and consists of 78 apartments contained in three buildings on a 1.77 acre parcel. The property also includes 0.63 acre parking lot with 78 parking spaces across the street at 501 E. Fremont St. Arlington Heights has long been considered a premier northwestern Cook County suburb of Chicago admired for vibrant downtown, excellent schools, and historic charm.

Euclid Place is strategically positioned near numerous entertainment/dining options and the Metra train station. All 78 units were completely renovated between 2019-2021 at a cost of $5,500,000. The scope of work includes new flooring, cabinets, appliances, in unit laundry, individual HVAC, copper supply lines and roofs on all three buildings. The property offers a diverse unit mix of 49 1BR/1BA units, 22 2BR/1BA units, 4 2BR/2BA units, and 3 3BR/2BA units, catering to several categories of renters including both young professionals and empty nesters.

This asset represents an exceptional investment opportunity in a suburban market where multifamily properties of this scale, quality, and location rarely become available, particularly with zero deferred maintenance. The building's diverse unit mix captures multiple rental price points while offering investors a unique combination of immediate income generation.