Essex Realty Group, Inc. has been exclusively engaged to market for sale 4340 Wilson Ave, a six-unit apartment building located in the desirable suburb of Downers Grove. The property comprises five (5) two-bedroom units and one (1) one-bedroom unit. With current rents more than 15% below market, a new owner has the opportunity to increase rental income even in its existing condition.
Three (3) of the units were rehabbed in 2016 with modernized interiors, while the other three, including the one-bedroom unit, retain their original finishes. This presents a strong value-add opportunity through potential updates and rent increases.
Situated in a prime location, the property offers tenants convenient access to shopping, dining, and entertainment options in Downers Grove. Additionally, its proximity to major highways and public transportation provides easy connections to nearby suburbs and Downtown Chicago.
This investment offers the chance to acquire a well-maintained, stabilized asset with notable potential for increased returns in the future.
Downers Grove is located just 25 miles west of Chicago and is one of the most vibrant and thriving villages in DuPage County. Known for its active downtown, natural attractions, community events, and large employer base, Downers Grove is one the premier Chicago suburbs in which to live and work. One of the suburb’s many appealing characteristics include its highly ranked schools. According to Livability.com, Downers Grove is one of the Top 10 Livable Cities for kids and has been recognized by Forbes as one of America’s Friendliest Towns.
Serviced by numerous expressways and commuter rail stations, residents of Downers Grove have direct and convenient access to Chicago as well as neighboring villages of Naperville, Westmont, Lisle, and Hinsdale. In addition, several corporate and regional headquarters are located in Downers Grove including Advocate Aurora Health Care, Dover Corporation, and Pepperidge Farm. These companies employ thousands of local residents and support the suburb’s robust economic base.
- Fully Occupied Cash Flowing Asset
- Strong Unit Mix: One (1) 1Bd/1Ba and Five (5) 2Bd/1Ba
- Stabilized Cap Rate of 7.67%
- Three (3) Units Remodeled in 2016
- Significant As-Is Rental Upside: $200-$300/Unit/Month