474 West 14th Place
8-Units in Chicago Heights, IL (Portfolio of 20 units)
Marketing description
474 W. 14th Place is a well-maintained 8-unit multifamily property located in Chicago Heights, just off Route 30 - Lincoln Highway, with convenient access to retail, dining, public transportation, and major regional employers. The property benefits from its proximity to Prairie State College, Franciscan Health Olympia Fields, and major industrial and logistics corridors throughout the south suburbs.
The property features a unit mix of (1) one-bedroom / one-bathroom unit and (7) two-bedroom / one-bathroom units, offering strong appeal to the area’s workforce housing tenant base. The apartment units have been renovated with updated kitchens, flooring, paint, bathrooms, and other interior improvements, providing investors with strong in-place cash flow and limited deferred maintenance. Recent capital improvements include a newer parking lot and hot water heater, helping support the long-term condition of the asset. Tenants are responsible for their own heat and electric, helping reduce operating expenses for ownership.
The asset offers an attractive combination of stable occupancy, operational efficiency, and long-term rental demand within an established workforce housing market.
Investment highlights
- 20-unit multifamily portfolio located across Chicago Heights and Sauk Village
- Properties located within approximately 8 miles of one another, allowing for streamlined management and operational efficiencies
- Favorable utility structure with tenants paying electric throughout the portfolio, and tenants at 474 W. 14th Place additionally responsible for heat expenses
- Chicago Heights properties located just off Route 30 - Lincoln Highway with convenient access to retailers, restaurants, grocery stores, and public transportation
- Convenient access to I-394, I-57, and U.S. Route 30 providing connectivity throughout the greater Chicago metropolitan area
- Area employers include Ford Motor Company, Franciscan Health Olympia Fields, Prairie State College, and the broader south suburban logistics and manufacturing corridor
- Opportunity to acquire stabilized workforce housing with in-place cash flow and future rental upside potential
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