Essex Realty Group is pleased to announce the sale of 1324 E Roosevelt Road, a multifamily property located in Wheaton, Illinois. Built in 1962, this well-positioned asset sits in the heart of DuPage County, one of Chicagoland’s most desirable suburban markets. The subject property offered investors a compelling value-add opportunity with a desirable unit mix of one-bedroom and two-bedroom apartments.
Past ownership initiated the value-creation process by fully renovating two units, achieving rent increases of approximately 10% and demonstrating the property’s potential for strong stabilized performance. The remaining units presented a clear path for an investor to capture additional upside via unit rehab, which may result in 10%-15% increase in annual income.
1324 E Roosevelt was well-maintained by prior ownership, which also completed significant capital improvements including a full TPO roof tear-off in 2023. The scope of the project included all new gutters, soffits, and fascia.
Located on Roosevelt Road, tenants enjoy excellent connectivity and access to Wheaton’s abundant dining, shopping, and recreational amenities.
Discover the vibrant neighborhood surrounding the property in Wheaton, IL. As a prospective Multifamily / Low-Rise/Garden investor, you’ll appreciate the area’s proximity to notable attractions. Enjoy the lush greenery and serene ambiance of Cosley Zoo, just a stone’s throw away. The prestigious Wheaton College is nearby, providing a dynamic cultural and educational environment. Residents can explore the charming downtown area with its eclectic mix of boutiques, cafes, and restaurants. The location is also within convenient reach of public transportation, creating a desirable living experience for potential renters. Wheaton offers a perfect blend of urban conveniences and suburban tranquility for your next investment opportunity.
- 15+ Tours and Multiple Offers
- Sold at 96% of List Price
- Highly Desirable DuPage County Multi-Family
- Proven Value-Add Opportunity - 10% Rental Upside
- Ideal Roosevelt Road Location, Easy Access to Downtown Wheaton & Surrounding Suburbs