CLOSED – MULTI-FAMILY
428-432 Park Boulevard Glen Ellyn, IL 60137
PRICE
Call for details
NUMBER OF UNITS
20
PROPERTY LISTED

Essex Realty Group, Inc. is pleased to present 428-432 Park Boulevard, a 20 unit multifamily property located in the highly desirable DuPage County suburb of Glen Ellyn. The Property is comprised of all 1 Bd/1 Ba units spread amongst three (3) separate buildings. Closely resembling a Tudor-style courtyard building, the Property also includes twenty (20) parking spaces; ten (10) garage and ten (10) surface.

428-432 Park Boulevard is a unique and rarely available multifamily investment opportunity. The Property is located just two blocks from the Glen Ellyn Metra Station and situated on a large .63 acre corner lot. The ideal location affords tenants with all the amenities of downtown Glen Ellyn within walking distance. Glenbard West High School, Memorial Park, Lake Ellyn, and the Illinois Prairie Path are also located within walking distance of the Property.

As the enclosed rent comparables demonstrate, an investor should realize a 20+% increase in rents after kitchen and bathroom updates. Additionally, current ownership includes garage parking in monthly rents. The Glen Ellyn market supports $50/mo./space for garage parking, potentially adding an additional $6,000 in annual income. Lastly, given the size of the lot (27,878 SF), ground-up development is also feasible.

LOCATION DETAILS

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HIGHLIGHTS
  • Property Under Contract Within 2 Weeks
  • 14 Tours, Multiple Offers
  • 2 Blocks From Glen Ellyn Metra Station
  • Current Cap Rate - 5.35%
  • Current GRM - 9
LISTING BROKERS
Brian Kochendorfer
Managing Director
773.305.4870
Brian Karmowski
Director
773.305.4892