Essex Realty Group, Inc. has been exclusively engaged to market for sale 7650 S Harlem Avenue, an 8-unit apartment building situated in the suburb of Bridgeview, IL. The Subject Property consists of four (4) 1-bedroom, 1-bathroom apartments, three (3) 2-bedroom, 1-bathroom apartments, and one (1) 3-bedroom, 2-bathroom apartment. Additionally, the property includes eight (15) exterior surface parking spaces.
With current rents below market rates, there’s an opportunity to raise rental income by over 20%, potentially increasing Net Operating Income by nearly 40%. This presents additional upside for the investor.
The property is situated 15 miles southwest of Downtown Chicago and only 5.6 miles from Chicago Midway International Airport. Residents benefit from the favorable location, which offers easy access to public transportation and nearby shops and restaurants.
Located roughly 15 miles southwest of downtown Chicago, Bridgeview encompasses a little over two square miles. It is bordered by Justice to the west, Bedford Park to the north, and Hickory Hills to the south. Bridgeview offers a diverse array of housing options, including single-family homes, townhouses, and apartment buildings.
With its close proximity to several major expressways, Bridgeview residents enjoy direct and convenient access to Chicago. Additionally, the town is near Chicago Midway International Airport, offering easy connections to both domestic and international destinations. Bridgeview strikes a good balance between suburban comfort and urban accessibility, fostering a strong sense of community and offering numerous nearby amenities.
- Opportunity to Increase Rents By $150-$200 Per Month
- Strong Unit Mix With Four (4) 1Bds, Three (3) 2Bds, & One (1) 3Bd
- Recent Capital Improvements Include Tear-Off Roof (2021), Boiler (2022), Hot Water Tank (2020), & Tuckpointing (2022)
- Fifteen (15) Surface Parking Spaces
- Located Less Than Six Miles From Midway International Airport