UNDER CONTRACT – MULTI-FAMILY
15928 S. Le Claire Ave. Oak Forest, IL 60452
PRICE
Call for details
NUMBER OF UNITS
72
PROPERTY LISTED

Essex Realty Group, Inc. is proud to exclusively offer for sale ReVerb Oak Forest, located at 15928 S. Le Claire Ave. ReVerb Oak Forest is a 72-unit garden style complex located in Oak Forest, IL comprised of two 36-unit buildings and 98 surface parking spaces. The units are 1Bd/1Ba layouts and feature updated finishes including stainless steel appliances, new flooring, granite countertops, individual HVAC, private balconies, renovated porches, and in-unit laundry, providing a rarely available level of finish in the submarket. In addition to unit upgrades, recent complex renovations included new windows, electric, full basements, and copper plumbing. Current ownership has invested over $325,000 in unit interiors, common areas, and exterior improvements since 2015.

ReVerb Oak Forest presents an investor with the opportunity to acquire 72 units with rental upside. As the enclosed rental survey indicates, 1Bd/1Ba units at ReVerb Oak Forest currently rent for $989/month on average, however, nearby similar apartments rent for $1,025/month. Bringing these rents to market could provide new ownership with approximately $31,000 in additional annual rental income, a 4% increase from current income.

LOCATION DETAILS

ReVerb Oak Forest is situated less than 0.2 miles from the Oak Forest Rock Island District (RI) Metra train station; 0.3 miles from IL-50; and 1.4 miles from I-52, providing easy access to Chicago and throughout surrounding suburbs.

HIGHLIGHTS
  • Acquire 72 units in Oak Forest, IL located 0.2 miles from the Oak Forest (RI) Metra train station
  • Units feature updated kitchens, bathrooms, flooring, individual HVAC, and in-unit laundry
  • Complex renovations include new windows, electric, individual HVAC, full basements, and copper plumbing
  • ~$325,000 in unit interiors, common areas, and exterior improvements since 2015
  • Unit mix: (72) 1Bd/1Ba apartments and (98) surface parking spaces
LISTING BROKERS
Doug Imber
President
773.305.4902
Kate Varde
Principal
773.305.4908
Clay Maxfield
Director
773.305.4852