ON MARKET – MULTI-FAMILY
1-21 N Dryden Place Arlington Heights, IL 60004
PRICE
$10,000,000
NUMBER OF UNITS
100
CAP RATE
4.74%
PROPERTY LISTED

Essex Realty Group, Inc. has been exclusively engaged to market for sale Dryden Apartments in desirable Arlington Heights, IL. The offering consists of four apartment buildings totaling 96 units (1-21 N. Dryden Place) and a 5,881 SF adjacent office building located at 15 S. Dryden Place. The property also includes 106 surface parking spaces. Each of the four apartment buildings are comprised of twelve (12) 2Bd/1Ba and twelve (12) 1Bd/1Ba units.

Dryden Apartments is an ideal value-add opportunity for investors. Upon the execution of a comprehensive renovation plan to the units and common elements, an investor may realize rent increases of 20-30+%. As the enclosed rental survey demonstrates, the Arlington Heights submarket has recently experienced tremendous rent growth.

The Property is located approximately one mile east of downtown Arlington Heights and the Metra Station, providing tenants easy access to surrounding suburbs and Downtown Chicago. Additionally, nearby I-90 and I-290 provide easy access to the greater Chicagoland area.

LOCATION DETAILS

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HIGHLIGHTS
  • 20-30+% Rental Upside
  • Favorable Unit Mix: 48, 2Bd/1Ba & 48, 1Bd/1Ba Units
  • Stabilized Cap Rate: 6.3%
  • Several Recent Capital Improvements
  • Offering Includes Adjacent 5,881 SF Office Building
  • One Mile to Downtown Arlington Heights and Metra
LISTING BROKER
Brian Karmowski
Managing Director
773.305.4892