1049 - 1025 West Vermont Street | 60 Units
8.23% Current Cap | 60-Unit Stabilized Multifamily Asset | Light Value-Add Upside
Marketing description
Midwest Investment Advisors with KW Commercial and Keller Williams ONEChicago is pleased to present the exclusive offering of Vermont Riverbend Residences, a 60-unit apartment community located at 1025–1049 W. Vermont St, Calumet Park, IL 60827 near the Little Calumet River. This investment opportunity consists of 3 contiguous, 20-unit yellow brick flexicore buildings totaling 60,459 SF and offering a desirable unit mix, strong in-place income, and significant upside potential through a light value-add repositioning strategy.
The property offers 68 off-street parking spaces, private balconies for each unit, and convenient on-site laundry facilities. The community features a well-maintained exterior with excellent curb appeal in a quiet residential neighborhood, supported by recent capital improvements including newer roofs, upgraded common areas, and unit renovations with new flooring, appliances, and fixtures.
Unit Mix & Rents
- (20) Two-Bedroom / One-Bath Units – Current Average Rent: $1,316 | Market Average Rent: $1,525
- (40) One-Bedroom / One-Bath Units – Current Average Rent: $1,091 | Market Average Rent: $1,275
Financial Highlights
- Current NOI: $484,137 | Pro Forma NOI: $579,895
- List Price: $5,880,000 ($98,000 per unit | $97.26 per SF)
- Current Cap Rate: 8.23% | Pro Forma Cap Rate: 9.86%
- Current GRM: 7.01 | Pro Forma GRM: 6.28
- Occupancy: 98% (1 available unit out of 60)
Investment highlights
- 2 buildings situated side-by-side and the 3rd located directly across the street – Efficient layout with Flexicore construction for durability and noise reduction.
- Attractive Unit Features – Balconies for all units, modernized finishes in renovated apartments, and on-site laundry facilities.
- Strong Upside Potential – Below-market rents present opportunity for rental rate growth to market levels through continued interior upgrades.
- Recent Capital Improvements – Newer roofs, updated common areas, and renovated units with new flooring, appliances, and fixtures.
- Desirable Suburban Location – Nestled in a residential neighborhood with strong tenant demand and convenient access to transportation, retail, employment centers, and the Little Calumet River
Vermont Riverbend Residences presents investors with a stabilized, cash-flowing asset in a strong rental market, with the added advantage of immediate light value-add potential to push rents and increase returns without major capex.
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