Essex Realty Group, Inc. has been exclusively engaged to market for sale 7719 W Fullerton Ave, a 9-unit apartment building situated in the highly desirable suburb of Elmwood Park. The Subject Property consists of two (2) 1-bedroom, 1-bathroom and seven (7) 2-bedroom, 1-bathroom apartments. Additionally, the property includes six (6) exterior surface parking spaces.
As the enclosed rental survey demonstrates, current rents are significantly below market. The building presents an opportunity for an investor to increase rental income by at least 20% as-is, resulting in a roughly 40% increase in Net Operating Income. Additionally, further rental upside may also be realized by updating the units with modern finishes.
The Subject Property is located 10 miles northwest of Downtown Chicago and .3 miles from the Elmwood Park Metra station. The Property’s convenient location offers residents easy access to public transportation and nearby shops and restaurants.
Situated approximately 10 miles northwest of downtown Chicago, Elmwood Park spans a modest area of just under two square miles, flanked by River Grove to the west, Norwood Park to the north, and River Forest to the south. Elmwood Park boasts a diverse housing landscape, featuring a blend of single-family residences, townhouses, and apartment complexes. The community is renowned for its charming tree-lined streets, well-preserved homes, and a warm, welcoming atmosphere.
With close proximity to the Elmwood Park Metra Station as well as numerous expressways, residents of Elmwood Park have direct and convenient access to Chicago. In addition, it’s within close proximity to O’Hare International Airport, which provides easy access to both domestic and international destinations. With its strong sense of community and proximity to urban amenities, Elmwood Park encapsulates the perfect balance between suburban comfort and metropolitan access.
- Fully Occupied Property in Desirable Elmwood Park Location
- Large Unit Mix – Seven, 2Bd/1Ba and Two, 1Bd/1Ba Units
- Significant Rental Upside – 20-25% As-Is
- Property Situated .3 Miles West of Metra Station
- Newer Mechanicals and Windows