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3606 Salem Walk, Northbrook, IL 60062
$988,000
3606 Salem Walk, Northbrook, IL 60062View this property at 3606 Salem Walk, Northbrook, IL 60062
3606 Salem WalkNorthbrookIL60062
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Property Description
!!The prize of Salem is now for sale!! What an opportunity to buy an absolute cash cow! The annual gross rents collected are not a typo- these 6 units collect almost 25k more than the highest sold comp to date. 5 units just updated! The building will be fully occupied as of 7/1. The asking price is less than the average gross rent multiplier for the other units sold. Perfect armchair investment for the beginner or seasoned investor! This building features 5 -2 bedrooms and 1 -1 bedroom. 5 units have been remodeled with new floors, new light fixtures, and have been completely repainted. All units have either a balcony or a patio. The property boasts a scenic lake, a pool, a tennis court and a clubhouse. Managed by an excellent association and an amazing on-site manager. All income and expenses are estimated. This building is fully leased with great tenants. AMAZING cash flow with a cap rate of 7. $73,000 annual net income. Monthly assessments $450 includes landscape, snow plowing, parking lot and scavenger.
Full Property Details
Full Property Details for 3606 Salem Walk
General
- Sold For: $988,000
- Taxes: $14,380 (2021)
- Status: Closed
- Type: Commercial
- MLS ID: 11814834
- Added to Site: 332 day(s) ago
Parking
- Total Spaces: 10
Location
- Area: Northbrook
- County: Cook
- Driving Directions: West on W Lake Ave, N on Milwaukee ave and then E into Salem walk
Heating & Cooling
- Cooling Type: Wall Sleeve
- Heating Type: Hot Water
Structural Information
- Stories/Levels: 3
- Year Built: 1977
- Built Before 1978: Yes
Unit Information
- Units w/Refrigerators: 6
- Units w/Range/Oven: 6
- # Dryers: 1
Lot Features
- Lot Dimensions: 65 x 55
- Zoning: MULTI
Financial Considerations
- Operating Expenses: $35,378
- Assessment Year: 1977
- Tax Amount: $14,380
- Tax Year: 2021
- Tenant Pays: Air Conditioning, Electricity
Disclosures and Reports
- Property ID: 4302100670000
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Schools
Schools serving 3606 Salem Walk
School Districts:West Northfield School District 31, Glenbrook High School District 225
Rating | Name | Grades | Distance |
---|---|---|---|
1919 Landwehr Rd, Glenview, IL 60026 | K-5 | 0.7 mi | |
2055 Landwehr Rd, Northbrook, IL 60062 | 6-8 | 2 mi | |
4000 W Lake Ave, Glenview, IL 60026 | 9-12 | 0.9 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 3606 Salem Walk
Date
Details
Price
Change
Source
7/21/2023
Sold
$988,000
-6.26%
MLS
6/22/2023
Listed
$1,054,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
3606 Salem Walk, Northbrook, IL 60062 (MLS# 11814834) is a Commercial property that was sold at $988,000 on July 21, 2023. This property was listed by Shalom Chinn from our Edgebrook Office.Want to learn more about 3606 Salem Walk? Do you have questions about finding other Commercial real estate for sale in Northbrook? You can browse all Northbrook real estate or contact a Coldwell Banker agent to request more information.