Essex Realty Group is pleased to announce the sale of 2256 Nichols Road, a six-unit (6) apartment building located in the near north suburb of Arlington Heights, Illinois. The building’s unit mix consists of five (5) 2bd/1Ba, and one (1) 1Bd/1Ba apartments with spacious floor plans. This low-maintenance property is a part of Country Glen Apartments whose association covers most exterior maintenance such as landscaping, snow removal, and scavenger. Prior ownership completed a number of significant capital improvements and updated many of the units with newer appliances.
After multiple tours and offers, the Property sold as a portfolio with 1217 S. Forums Court in Wheeling to a local investor in the north suburbs.
The property is situated off Lake Cook Road and just east of Rt 53, making it ideal for tenants commuting to work, shopping, or the surrounding suburbs.
The building’s unit mix consists of five (5) 2bd/1Ba, and one (1) 1Bd/1Ba apartments with spacious floor plans. The current owners have made significant capital improvements to the property including, new flooring (2015), water heater (2017), boiler (2018), and roof (to be completed May 2021). Many units also feature newer appliances installed between 2016-2020
2256 Nichols Road is apart of Country Glen Apartments, which features an abundance of green space and parking for tenants. This is a low-maintenance property as the association takes care of landscaping, snow removal, and scavenger. The low expenses and below market rents provide a new investor with an opportunity to increase the revenue and experience greater returns.
- 6 Unit Apartments Building in Arlington Heights
- Attractive Unit Mix - One (1) 1Bd/1Ba & Five (5) 2Bd/1Ba Units
- Recent Capital Improvements and Unit Upgrades Such as Newer Appliances & Flooring
- Low Maintenance Property with Well Managed HOA
- Under Market Rents