$1,256,250
$1,495,000
16.0%For more information regarding the value of a property, please contact us for a free consultation.
20,328 SqFt
SOLD DATE : 02/12/2024
Key Details
Sold Price $1,256,250
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Sold
Purchase Type For Sale
Square Footage 20,328 sqft
Price per Sqft $61
MLS Listing ID 11862525
Sold Date 02/12/24
Maintenance Fees $14,969
Year Built 1978
Annual Tax Amount $23,616
Tax Year 2022
Lot Size 1.110 Acres
Lot Dimensions 120X206X285X62X186
Property Sub-Type Multi Family 5+
Property Description
Rare opportunity to achieve proven out value-add without spending significant money on improvements. Mechanicals, roof, common areas and units have been renewed, replaced or upgraded as needed to bring the buildings into excellent operating condition. Rents increased by 30-40% once upgrades were made, and future rent rolls are projected to increase by an additional 20-25% as leases are renewed at the higher rates.
Location
State IL
County Mc Lean
Area Normal
Zoning MULTI
Interior
Cooling Central Air
Fireplace N
Building
Level or Stories 2
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Bought with Jenny Scott • Keller Williams Revolution
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "