ON MARKET – MULTI-FAMILY
4747 N Ronald Street Harwood Heights, IL 60706
PRICE
$1,875,000
NUMBER OF UNITS
12
CAP RATE
5.57%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 4747 N Ronald Street, a 12-unit apartment property located in the west Cook County suburb of Harwood Heights. The building consists of (4) one bed/one-bath units, and (8) two bed/one-bath units that have been meticulously maintained by the same ownership for the past 20 years.

Located in the heart of Harwood Heights, 4747 N Ronald Street sits on a quiet corner just two blocks away from Harlem Avenue and Gunnison Street, which hosts dozens of restaurants, shops, and shopping malls, including the Holiday Plaza Shopping Mall, Harlem Irving Plaza, and Norridge Commons Shopping Mall. Additionally, located within walking distance to the Property are numerous national retail options including Starbucks, Lou Malnati's Pizzeria, and Portillo's Hot Dogs, among others. This, combined with the Property’s proximity to the City of Chicago, makes for a highly desirable and accessible location.

The Property presents future investors with the opportunity to acquire a well-maintained property in a high-demand suburban location with plenty of rental up-side. Current rents are between $150-250 per month below market, providing investors the ability to greatly increase rents "as-is". A majority of the apartments will feature new vinyl floors, updated kitchen appliances and cabinets, in addition to new bathroom vanities and shower tile.

*Owner is a licensed real estate agent in the State of Illinois

LOCATION DETAILS

Located approximately 14 miles northwest of Chicago, Harwood Heights has a total area of .82 square miles and forms an enclave with it's neighbor Norridge surrounded by the City of Chicago. The subject property is situated approximately six miles west of O'Hare International Airport and provides convenient access to northwest Chicago as it sits just a few blocks to the east of city limits. Additionally, the property is located within walking distance to dozens of retail shops, shopping malls, and nationally recognized restaurants.

HIGHLIGHTS
  • Meticulously Maintained 12-Unit Apartment Building
  • High-Demand Suburban Rental Market
  • Steps Away from the City of Chicago and Numerous Retail Shops and Malls
  • Ability to Increase Rents Between $150-200/Month "As-Is"
  • Fully Occupied Property with Strong In-Place Cash Flow
  • Numerous Upgrades to Units and Mechanicals Over the Past 5-10 Years
LISTING BROKER
Derek Kaptanoglu
Director
773.305.4862