ON MARKET – MULTI-FAMILY
85 S. Crystal Street Elgin, IL 60123
PRICE
$1,275,000
NUMBER OF UNITS
15
CAP RATE
7.58%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale 85 S.Crystal St., a fifteen-unit (15) apartment building located in the desirable suburb of Elgin, Illinois. The property is exceptionally located on the banks of the Fox River, just outside downtown Elgin. The property is steps away from all downtown Elgin amenities, including the Metra Stop (0.3 miles), Fox River Trail (0.5 miles), and the Grand Victoria Casino (0.8 miles).

This Property's unit mix consists of nine (9) 2bd/1Ba and six (6) 1Bd/1Ba apartments with spacious floor plans. Eleven (11) of the fifteen (15) units have been updated with new flooring, countertops, and cabinets. Nine (9) of the units include electric baseboard heat, while the remaining six (6) units have individual furnaces. The building also features sleeve air conditioners, a newer fire alarm system, security cameras, and a large parking lot with thirty (30) spaces.

The property's remarkable location and below market rents provide a new investor with the opportunity to increase revenue by raising rents to market or renovating the balance of the units and experiencing greater future returns.

LOCATION DETAILS

Elgin is a suburb of Chicago located in Kane County and is part of Elgin Township. The village is approximately 38 miles northwest of downtown Chicago and is home to the Fox Valley. The village is nestled along the banks of the Fox River and is bordered by many prominent suburbs including Barrington, Schaumburg, St Charles, and Campton Hills. Elgin borders the route 90 expressway to the north. The suburb includes three Metra stops: Big Timber, National Street, and Elgin Station, making it easy for residents to commute to Chicago and the neighboring suburbs

Elgin's history dates back to 1854 and is remembered for its watchmaking and dairy production. The city is now one of the best places to live in Illinois as it offers residents the benefit of an urban-suburban mix, with lots of restaurants, coffee shops, and parks to visit. Elgin sits along the picturesque Fox River and boasts an award-winning riverwalk, several excellent museums, stunning architecture, and the popular Grand Victoria Casino.

HIGHLIGHTS
  • Exceptional location as the property is just outside downtown Elgin and steps away from all downtown amenities
  • Desirable unit mix fifteen (15) units consisting of nine (9) 2bd/1Ba and six (6) 1Bd/1Ba apartments
  • Steps away from public transportation and 0.03 miles from the Elgin Metra station
  • Eleven (11) of the fifteen (15) units have been updated with new flooring, countertops, and cabinets
  • Below market rents and tenant-paid utilities
LISTING BROKERS
Anthony Citriglia
Director
773.305.4844
Brian Karmowski
Director
773.305.4892