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2069 N 18th Avenue, Melrose Park, IL 60160
$1,100,000
2069 N 18th Avenue, Melrose Park, IL 60160View this property at 2069 N 18th Avenue, Melrose Park, IL 60160
2069 N 18th AvenueMelrose ParkIL60160
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Property Description
Pleased to present this Melrose Park all brick 12-unit multi-family, consisting of 4 one-bedroom garden view and 8 two-bedroom units, in highly stable suburb of Chicago. All 12 units feature spacious rooms. The property gives an Investor the opportunity to acquire a stabilized, strong cash flowing asset. From day one, the new owner could capitalize on the long-term tenant base with an in-place Cap rate of 6.39%. Building is fully occupied. Located within close proximity to major area businesses for employment possibilities (Jewel Food/Produce Distribution Center - 0.3mi, Gottlieb Memorial Hospital - 1.4mi, Amazon Delivery Station - 1.5mi) and local schools (Rhodes School District 84 1/2 - 1.1mi, West Leyden High School - 4.4mi, Triton College - 1.1mi). Property has 12 parking spaces located in the rear of the building, plus additional driveway and street parking. The 2-bedroom units have hardwood flooring in the living rooms with a dining area off the kitchen. New owner should be able to reduce expenses to provide more NOI. Additional income from on-site coin laundry machines. Ample storage available for both tenant and property owner. Exterior has additional owner storage/work shed. Below market rents offer new buyer further potential rental income.
Full Property Details
Full Property Details for 2069 N 18th Ave
General
- Sold For: $1,100,000
- Taxes: $23,458 (2021)
- Status: Closed
- Type: Commercial
- MLS ID: 11719847
- Added to Site: 460 day(s) ago
Interior
- Interior Features: Storage Inside, Laundry Room
Parking
- Parking Features: 6 to 12 Spaces
Location
- Area: Melrose Park
- County: Cook
- Driving Directions: North Ave east from 25th to 18th Ave, North to 2069 N 18th Ave.
- Location Details: Mixed-Use Area, In City Limits
Heating & Cooling
- Cooling Type: Wall Sleeve
- Heating Type: Central Building Heat, Baseboard
Structural Information
- Construction: Brick, Block
- Exterior Const.: Brick
- Roof: Rubber
- Stories/Levels: 3
- Current Bldg. Use: Multi-Family
- Year Built: 1966
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 12
- Units w/Range/Oven: 12
- # Dryers: 2
Lot Features
- Lot Dimensions: 63 x 150
- Potential Use: Multi-Family
- Zoning: MULTI
Financial Considerations
- Operating Expenses: $45,309
- Assessment Year: 1966
- Tax Amount: $23,458
- Tax Year: 2021
- Tenant Pays: Air Conditioning, Electricity
Disclosures and Reports
- Documents Avail.: Rent Roll, Tax Bill, Operating Statement
- Property ID: 12343030430000
Listed and Sold by Baird & Warner
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Schools
Schools serving 2069 N 18th Ave
School Districts:Rhodes School District 84-5, Leyden Chsd 212
Rating | Name | Grades | Distance |
---|---|---|---|
8931 Fullerton Ave, River Grove, IL 60171 | PK-8 | 0.7 mi | |
1000 N Wolf Rd, Northlake, IL 60164 | 9-12 | 2.7 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2069 N 18th Ave
Date
Details
Price
Change
Source
12/27/2023
Sold
$1,100,000
-15.38%
MLS
2/15/2023
Listed
$1,300,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2069 N 18th Avenue, Melrose Park, IL 60160 (MLS# 11719847) is a Commercial property that was sold at $1,100,000 on December 27, 2023. Want to learn more about 2069 N 18th Avenue? Do you have questions about finding other Commercial real estate for sale in Melrose Park? You can browse all Melrose Park real estate or contact a Coldwell Banker agent to request more information.