ON MARKET – MULTI-FAMILY
7227-33 Roosevelt Rd. Forest Park, IL 60130
PRICE
$850,000
NUMBER OF UNITS
9
CAP RATE
8.63%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 7227-33 W. Roosevelt Rd., a vintage mixed-use walk-up building consisting of five (5) apartments and four (4) commercial spaces in Forest Park, Illinois.

The subject property was renovated in 2013 and both exterior and interior capital improvements were made. Exterior improvements included a new exterior porch, hot water tank, sump pump and rubber layer on the roof. Interior improvements included updated kitchens with stainless steel appliances, laminate countertops, gas rangers and dishwashers; bathrooms include vanity sinks with mirrored medicine cabinets and bathtub/shower combos.

The 7233—C commercial space was built-out in 2013 and improvements included new floors, new fixtures in the bathroom, an employee break room, one private office and a waiting area for customers. Six (6) exterior parking spaces are located behind the building and may be rented for an additional monthly fee.

LOCATION DETAILS

Situated on the northwest corner of Roosevelt Road and Elgin Avenue, the property is four (4) blocks south of the Eisenhower Expressway (I-290) and the CTA Blue Line (Harlem-Forest Park Station) which provides easy access to Downtown Chicago and O’Hare International Airport.

Residents also benefit from the CTA bus stops that line Roosevelt Road and Harlem Avenue, including one situated at the corner of Roosevelt and Elgin Avenue just steps from the subject property. In addition, the property is within walking distance to the shops and restaurants located at the Forest Park Plaza Shopping Center and Maple Park which offers athletic fields and other recreational activities to the community.

HIGHLIGHTS
  • 12%+ Cash-on-Cash Return on Day 1
  • Mixed-Use Property Containing Five (5) Apartments and Four (4) Commercial Spaces
  • Desirable West Suburban Location with Easy Access to Downtown Chicago
  • Close Proximity to I-290 and CTA Blue Line
  • Recently Updated Apartments with On-Site Parking
  • Strong Commercial Exposure Along Roosevelt Road
LISTING BROKER
Matt Feo
Director
224.305.4102