For Sale: Fully Leased Multi-Family in Park Ridge
1 N. Hamlin Ave., Park Ridge, IL 60068
Marketing description
Just off Touhy Avenue in Park Ridge, IL, this eight unit multi-family building is available for sale. The 12,200 square foot property is fully leased at below market rents and is comprised of one studio, six 2-bedroom, 2-bath units and a 3-bedroom, 2-bath unit. The property has an attached 6-car garage plus additional parking. Businesses in the area include: Whole Foods, Jewel-Osco, Trader Joe's, Walmart, Target, Costco, Menard's, Best Buy, Allstate Arena, Rivers Casino and more. Easy access to I-294 and busy Touhy Avenue.
Park Ridge is a thriving suburban city located just 15 miles northwest of downtown Chicago. Known for its tree-lined streets, excellent schools and a strong sense of community, it offers a high quality of life for its residents. The area surrounding this property boasts a variety of retail options, including local boutiques, restaurants and essential services, contributing to the neighborhood's appeal. The city's commitment to development is evident in recent approvals, reflecting a supportive environment for growth and investment.
Investment highlights
- 8 apartment units and separate laundry room
- Two-story, multi-family building
- One studio, six 2 bedroom, 2 bath units and one 3 bedroom, 2 bath unit
- 100% occupied
- Substantially under market rents
- Separately metered units
- 6-car attached garage plus six additional parking spaces
- Land Area: 18,639 SF
- Traffic count: 25,561 vehicles daily
- Zoning: R-5
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