Essex Realty Group, Inc. has been exclusively engaged to market for sale of 8706 Fullerton Avenue, a 6-unit apartment property located in the Cook County suburb of River Grove. The building consists of (2) 1Bd/1Ba and (4) 2Bd/1Ba units.
Investors have the opportunity to acquire a fully occupied property in a highly desirable suburban location. The building has undergone numerous capital improvements over the last few years including a new roof in 2013, new boiler and hot water tank in 2017, new gutters in 2020, and recent plumbing upgrades.
Rents are roughly $250-$500/month (20-60%) below market, providing new ownership the ability to increase rents “as-is” or with minor cosmetic updates to the units.
Located about 15 miles west of Chicago, River Grove encompasses just under two and a half square miles and is bordered by Melrose Park to the south, Franklin Park to the west, and Elmwood Park to the east. River Grove is a primarily residential neighborhood with a mixture of single-family homes, townhouses, and apartments. The community is known for its tree-lined streets, well-maintained homes, and friendly residents.
The village is conveniently located near major highways, including Interstate 294 and Interstate 290, making it easy to commute to and from work or travel to nearby attractions. In addition, it’s just a short drive away from O’Hare International Airport, which provides easy access to both domestic and international destinations.
- Fully Occupied Property in Desirable River Grove Location
- Recent Capital Improvements Include New Tear-Off Roof (2013), New Boiler and Hot Water Tank (2017), and New Gutters (2020)
- Ability to Increase Rents $250-$500/Month (20-40%) In "As-Is" Condition
- Walking Distance to Rhodes Elementary School and Triton College
- High Demand Suburban Rental Market