Essex Realty Group, Inc. is pleased to announce the sale of 425-433 Laurel Avenue, an 8-unit apartment building in the near north suburb of Des Plaines. The property is comprised of eight (8) 2Bd/1Ba units along with ten (10) surface parking spaces.
The Property has been well-maintained by current ownership for the past 30 years. Unit interiors feature hardwood floors and various updates such as new tubs, bathroom vanities, and retiled kitchen floors. Also, the roof received a new silver coating in 2023. Current rents are significantly below market. A new owner could achieve rents $100-$320 higher per month “as-is.”
The Property is conveniently located less than half a mile from downtown Des Plaines and the Des Plaines UP-NW Metra station. Directly across the street is Menominee Park which features a playground and picnic pavilion. In addition, residents have their choice of numerous retail options located within half a mile at Metropolitan Square. The shopping center contains the Des Plaines Theater, a Shop & Save Market, Giordano’s, and a host of other national and local retailers.
The City of Des Plaines is a near north Chicago suburb located in Cook County. Situated just 17 miles northwest of downtown Chicago, Des Plaines enjoys excellent connectivity to major transportation hubs, making it an ideal location for residents and visitors alike. The city benefits from a well-developed public transportation system. The Metra Union Pacific Northwest Line serves Des Plaines with two stations: Des Plaines Station and Cumberland Station. These stations provide residents with convenient access to downtown Chicago and northwest suburbs. Additionally, O’Hare International Airport is just six miles away.
The city boasts a variety of well-maintained parks including the scenic Des Plaines River. Des Plaines is also home to award-winning schools, a bustling downtown with the recently renovated Des Plaines Theatre, a top-notch gaming experience at Rivers Casino, more than 100 restaurants, a thriving local economy and job market, and safe, welcoming neighborhoods.
- 12 Property Tours and Six Competitive Offers
- Impeccably Maintained by Long-Term Owners
- All 2Bd/1Ba Units
- Rents Currently $100-$320 Below Market
- Highly Desirable Near North Suburb of Des Plaines
- Less Than Half a Mile from Downtown Des Plaines and Metra Station