Essex Realty Group has been exclusively engaged to market for sale 1324 E Roosevelt Road, an 8-unit 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 offers investors a compelling value-add opportunity with a desirable unit mix of six (6) one-bedroom and two (2) two-bedroom apartments.
Current ownership has initiated the value-creation process by fully renovating two units, which achieved rent increases of approximately 10% and highlight the property’s potential for stabilized performance. The remaining six units present a clear path for investors to capture additional upside via unit rehab, which may result in 10%-15% increase in annual income.
1324 E Roosevelt has been well-maintained by current ownership and recent capital improvement include a full TPO tear off roof 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.
- Highly Desirable DuPage County Multi-Family
- Current Cap Rate of 6.77%
- Proven Value-Add Opportunity - 10% Rental Upside
- Full Roof Replacement (TPO) with 20-Year Warranty
- Ideal Roosevelt Road Location, Easy Access to Downtown Wheaton & Surrounding Suburbs