37-39 West 14th Place
6-Units in Chicago Heights, IL (Portfolio of 20 units)
Marketing description
37-39 W. 14th Place is a well-located 6-unit multifamily property situated in Chicago Heights, just off Route 30 - Lincoln Highway with convenient access to retail corridors, public transportation, and major south suburban employment centers. The property benefits from its proximity to Prairie State College, Franciscan Health Olympia Fields, and nearby industrial and logistics hubs that continue to support workforce housing demand throughout the area.
The property features a unit mix of (1) two-bedroom / one-bathroom unit and (5) three-bedroom / one-bathroom units, offering larger floor plans that appeal to long-term tenants and families. While the interiors have seen more limited renovations compared to other properties in the portfolio, the asset has maintained stable occupancy and presents investors with future value-add potential through continued unit upgrades. Recent capital improvements include a newer boiler and extensive tuckpointing work, helping support the long-term physical integrity of the property. Ownership currently provides heat, while tenants are responsible for electric.
The asset offers investors an opportunity to acquire a stable workforce housing property in a strong south suburban location with operational upside over time.
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
- Value-add opportunity at 37-39 W. 14th Place, where many units have not yet undergone the same level or renovation as the remainder of the portfolio
- Chicago Heights properties located just off Route 30 - Lincoln Highway with convenient access to retailores, 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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