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33475405
33475404

2121 176TH PL, LANSING, IL 60438

JP
IL 471010441
Horvath & Tremblay
AS
IL 475173833
Listed by Horvath & Tremblay
$695,000
22 days on market
Updated 22 days ago

2121 176th Pl

Details
APN 29-25-414-011-0000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,000
Net Rentable (SqFt) 5,000
Units 6
Cap Rate 7.84%
NOI $54,495
Pro-Forma Cap Rate 8.18%
Pro-Forma NOI $56,821
Year Built 1971
Buildings 1
Stories 3
Acreage 0.180
Ownership Fee Simple

Multi-Family | 6 Units | 6,000 Sq Ft

Marketing description

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 2121 176th Place in Lansing, IL (the “Property”). The three-story building contains four (4) 2-Bedroom/1-Bathroom units and two (2) 1-Bedroom/1-Bathroom units with 5,000 square feet of gross living area in 6,000 square feet of gross area. The Property is situated upon a 0.18-acre parcel and features twelve (12) off-street parking spaces.

2121 176th Place is strategically located in Lansing, Illinois, offering convenient access to the Chicago metropolitan area and key commercial corridors throughout the south suburban market. The property benefits from excellent connectivity to major transportation routes, including Interstate 94, Interstate 80, and Torrence Avenue, providing efficient regional access to downtown Chicago, Northwest Indiana, and surrounding industrial and residential communities.

Investment highlights

ACCESS & CONNECTIVITY

2121 176th Place in Lansing offers strong regional access with nearby Pace bus service, including routes 353, 358, and 364, plus the Lansing Area On Demand service for local trips and connections throughout the south suburban corridor.

Rail access is available a short drive away via the South Shore Line at Hegewisch station, while Metra and additional commuter rail connections are reachable in the broader south suburban market.

The Property also benefits from excellent highway connectivity, with quick access to Interstate 94, and convenient linkage to Interstate 80 and the I-94/I-80 interchange near Lansing for efficient travel into Chicago, Northwest Indiana, and the wider region.

AREA AMENITIES & DEMAND DRIVERS

The Property is positioned near several major employment centers, including the Ford Chicago Assembly Plant in nearby Chicago Heights, the extensive logistics and distribution facilities along the I-80/I-94 corridor, and major employers throughout the Calumet Region.

Residents also enjoy access to healthcare employment hubs such as Franciscan Health Munster, Community Hospital in Munster, and UChicago Medicine Ingalls Memorial Hospital in Harvey, which collectively support thousands of jobs throughout the region.

Demand for apartment housing is further supported by Lansing’s proximity to major transportation routes, including Interstates 80, 94, and 294, providing convenient commuter access to downtown Chicago, the Southland employment market, and Northwest Indiana.

Residents also benefit from proximity to the Lansing Municipal Airport, the extensive recreational offerings of Lan-Oak Park District facilities, and outdoor destinations including the Forest Preserves of Cook County and nearby Wolf Lake, a popular destination for boating, fishing, and nature activities.

RECENT CAPITAL IMPROVEMENTS & UNIT RENOVATIONS

The Property benefits from recent capital improvements that include a new roof, a new boiler, and a new water heater, adding long term reliability and reducing short-term maintenance costs.

Five of six (5/6) units feature upgraded and modern finishes, appealing to prospective tenants and increasing long term value.

DESIRABLE BRICK CONSTRUCTION

The Property features durable brick construction, a highly desirable attribute for multifamily housing that provides long-term structural integrity, fire resistance, and reduced maintenance requirements. Brick construction also delivers superior sound attenuation and thermal efficiency, contributing to lower utility costs and enhanced resident comfort while preserving long-term aesthetic appeal. UTILITIES

Tenants are responsible for separately metered electricity, which they pay directly. The Landlord is responsible for boiler heat, gas powered hot water, and city water & sewer.

OFF-STREET PARKING & AMENITIES

The Property features ample parking with twelve (12) off-street parking spaces, up to two spaces per unit.

STRONG RENTAL DEMOGRAPHICS & DEMAND

More than 8,300 people live within 1 mile of the Property with an average household income of $100,247. Over 83,300 people reside within 3 miles of the Property with an average household income of $94,878.

QUALITY OF LIFE AMENITIES

The surrounding Lansing retail corridor features an extensive selection of national dining brands and quick-service restaurants, including Chick-fil-A, Chipotle, Panera Bread, Culver’s, Starbucks, McDonald’s, Wendy’s, Taco Bell, and Jersey Mike’s, providing residents with convenient dining options throughout the day.

Grocery shopping is anchored by major operators including Walmart Supercenter, ALDI, Jewel-Osco, Strack & Van Til, and Meijer, while national convenience retailers such as Speedway, BP, Shell, and 7-Eleven provide daily necessities.

Larger shopping destinations, including River Oaks Center in nearby Calumet City and the numerous retail centers surrounding I-80, I-94, and Torrence Avenue, offer additional shopping, dining, and entertainment opportunities that serve the broader Southland region.

Residents are within minutes of Lan-Oak Park District facilities, which provide athletic fields, walking trails, playgrounds, and community programming. Nearby parks such as Veterans Memorial Park and Fox Pointe offer additional recreational opportunities, while the expansive Forest Preserves of Cook County provide miles of hiking, biking, and nature trails throughout the region.

Listing Contacts

JP
IL 471010441
Horvath & Tremblay
AS
IL 475173833
Listed by Horvath & Tremblay

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$54,495.00
$4,541.25/mo

Valuation Metrics

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DSCR
7.84%
Cap Rate
7.84%
ROI

Map

Zoning

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R3 ResidentialSingle FamilySingle Family Attached Residential
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Last updated Mar 6, 2026 For deeper zoning details, reports are available at Zoneomics

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Additional Information

Name
JOHN PRZYBYLA
License
471010441
Title
Broker of Record
Name
John Przybyla
License
471010441
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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