ON MARKET – MULTI-FAMILY
8248 Archer Avenue Willow Springs, IL 60480
PRICE
$495,000
NUMBER OF UNITS
9
CAP RATE
6.64%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 8248 Archer Avenue, a nine (9) unit apartment building consisting of nine (9) studio apartments. The property is located in the Chicago suburb of Willow Springs.

Investors have the opportunity to increase rents through minor capital improvements, as units are currently $150 to $200 per month below market rates. In addition, the office located on the ground floor has plumbing hook-ups and can be converted to a laundry room for additional income.

LOCATION DETAILS

Located 34 miles southwest of downtown Chicago, the Village of Willow Springs encompasses 4 square miles and is situated next to multiple forest preserves. The Village is bordered by Countryside to the north, Burr Ridge to the west, Justice to the east, and Hickory Hills to the south. The subject property boasts an excellent location, sitting across the street from the Buffalo Woods Forest Preserve in addition to being just 1 mile away from the nearest Metra station.

HIGHLIGHTS
  • Rarely available multifamily property in Willow Springs
  • Value-add opportunity
  • Significantly below market rents with month to month tenants
  • 1-mile from the Metra
LISTING BROKERS
Brian Kochendorfer
Managing Director
773.305.4870
Derek Kaptanoglu
Associate
773.305.4862