CLOSED – MULTI-FAMILY
1001 Argyle Street Bensenville, IL 60106
PRICE
Call for details
NUMBER OF UNITS
24
PROPERTY LISTED

Essex Realty Group, Inc. is pleased to announce the sale of 1001 Argyle St., a 24 unit apartment building in Bensenville, IL. The property has been very well-maintained by current ownership with newer mechanicals and updates to all common areas and several units. Situated on a 1.5 acre lot, the property affords tenants with plenty of parking (42 surface spaces) and ample green space for outdoor activities.

After conducting an extensive marketing campaign resulting in more than 16 property tours and multiple offers, the property was placed under contract within three weeks on the market. The property closed six weeks later to a local investor.

LOCATION DETAILS


Due to nearby O'Hare International Airport, an abundance of logistical and manufacturing companies are located in close proximity to the Property. This supply of jobs leads to a high demand for workforce housing in the immediate area. Additionally, the Bensenville Metra Station is only 2.5 miles from the Property, allowing for easy access to neighboring suburbs and downtown Chicago.

At present, the Property is fully-occupied and monthly rent collections are 100%. Current ownership is receiving $1,100/mo. for 1bd units and $1,300/mo. for 2bds. However, the average rent for each unit type is 5% less, providing a new owner with immediate upside in rents. Further rental increases may also be realized with additional updates to the units.

HIGHLIGHTS
  • 16 Tours and Multiple Offers
  • Well-Maintained 24 Unit Apartment Building
  • Fifteen (15) 1Bd/1Ba & Nine (9) 2Bd/1Ba Units
  • High Rental Demand Area
  • Below-Market Rents
  • Several Units Feature Newer Flooring and Cabinetry
LISTING BROKERS
Brian Karmowski
Managing Director
773.305.4892
Brian Mond
Director
312.662.9590