ON MARKET – MULTI-FAMILY
415-419 E. Galena Boulevard Aurora, IL 60505
PRICE
$2,995,000
NUMBER OF UNITS
56
CAP RATE
7.89%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 415-419 E Galena Boulevard in Aurora, IL. The Property is comprised of a forty-six (46) unit and a ten (10) unit (8 unit building plus 2 unit coach house) apartment building for a total of fifty-six (56) units.

The 415 building contains (5) studios, (3) 1Bd/1Ba, and (2) 2Bd/1Ba units. The 419 building contains (34) studios and (12) 1 Bd/1Ba. The current owners have completed renovations in five (5) units at the 419 building. As a result, these renovated units are achieving rent premiums of $125-$175 per month, a 20% increase over the current average rent. Additionally, several non-renovated units have recently been turned over and have absorbed rent increases of $75-$100 per month.

This property is also located in an Opportunity Zone allowing a new investor to take advantage of the long-term tax benefits of the program.

LOCATION DETAILS

415-419 E Galena Boulevard is located near the heart of downtown Aurora which is home to a number of attractions such as the Paramount Theater, Hollywood Casino and Waubonsee Community College. In addition, the Property is less than a mile from the Aurora Metra station making it an attractive location for those commuting to downtown Chicago and surrounding suburbs.

HIGHLIGHTS
  • 46 Unit & 10 Unit Building (8 Units Plus 2 Unit Coach House)
  • (39) Studios, (15) 1Bd/1Ba, & (2) 2Bd/1Ba
  • Significant Value-Add Opportunity
  • Minutes from Downtown Aurora and less than a Mile from Metra Station
  • Located in an Opportunity Zone
LISTING BROKERS
Brian Kochendorfer
Managing Director
773.305.4870
Brian Karmowski
Director
773.305.4892
Troy Beebe
Director
773.305.4872