Essex Realty Group, LLC is pleased to announce the successful sale of a portfolio of three multi-family properties in the near west suburb of Bellwood. The portfolio consists of eighteen (18) units across three buildings, all located within a 3-minute drive of one another.
This well-maintained portfolio had been under the same family ownership and management for over 25 years and features a desirable unit mix of fifteen (15) 2-bedroom/1-bathroom, two (2) 1-bedroom/1-bathroom, and one (1) studio units, along with sixteen (16) surface parking spaces. With rents approximately 20% below market, the portfolio offered considerable upside potential that attracted strong investor interest.
Essex’s marketing platform generated multiple tours and offers, ultimately connecting the seller with a local investor who recognized the value-add opportunity and the portfolio’s strong fundamentals.
Conveniently located with easy access to the Eisenhower Expressway (I-290) and just minutes from downtown Chicago, the properties are well-positioned in an area with continued rental demand.
Bellwood is a small suburban village located approximately 13 miles west of downtown Chicago in Cook County, Illinois. It is bordered by several neighboring suburbs, including Stone Park/Melrose Park to the north, Hillside/Berkley to the west, and Broadview to the south. The village offers convenient access to major transportation routes, including the Eisenhower Expressway (I-290) and is served by the Metra commuter rail, with the Bellwood station providing a direct connection to Chicago’s downtown. Bellwood’s location allows for a balance of suburban living with easy access to the city’s amenities.
- Multiple Tours & Offers
- Desirable Unit Mix: Fifteen (15) 2Bd/1Ba, Two (2) 1Bd/1Ba, & One (1) Studio
- Well-Maintained and Managed: Same Owner for 25-40 Years
- Significant Rental Upside: 20% As-Is
- Value-Add Opportunity: 35%+ Rental Increases with Cosmetic Upgrades