Essex Realty Group, LLC has been exclusively engaged to market for sale 1214-16 Marengo Avenue, a six (6) unit brick apartment building located in Forest Park, IL. Built in 1966, the two-story walk-up has four (4) one-bedroom and two (2) two-bedroom apartments all above grade. It also has five (5) surface parking spaces, on-site laundry and a private basement storage unit for every tenant. Ownership has invested in the building’s major systems: a high-efficiency Triangle Tube wall-mounted boiler, a new 75-gallon Rheem hot water heater installed in 2025, and vinyl windows.
The property is 100% occupied, with leases running through mid-2027, and offers a clear value-add path. Three (3) of the six (6) units have been renovated with granite countertops, new wood cabinetry, LVP flooring, & stainless steel appliances. The remaining three (3) let a new owner complete the interior program and move rents toward market. In-place rents total $9,215 per month against an estimated market of $9,900.
The property sits on a residential block near Roosevelt Road, less than one mile from the CTA Blue Line Harlem station and the I-290 interchange at Harlem Avenue. Residents have a direct commute to downtown Chicago. Forest Park Plaza, home to Living Fresh Market, Planet Fitness and Portillo’s, is nearby along Roosevelt, as is the Madison Street dining district. Rush Oak Park Hospital and Loyola University Medical Center in Maywood are both a short drive away. CTA has also funded design work for a rebuild of the Blue Line’s Forest Park branch. With modernized mechanicals, full occupancy and three units left to renovate, 1214-16 Marengo offers durable cash flow today and a defined path to higher income.
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- Well Maintained 6-Unit In Highly Desirable Forest Park
- Updated Mechanicals: High-Efficiency Boiler, Updated Windows, & New 2025 Water Heater
- Value-Add Opportunity: Three Unrenovated Units Provide Additional Rental Upside
- 100% Occupied with Leases Through Mid-2027
- Less Than One Mile to the CTA Blue Line and I-290