Sold
Address
2421 123rd Street, Blue Island, IL
Price
$ 640,000
Property Attributes
  • MLS#11766902
  • TypeMulti-Family
  • CountyCOOK
  • CityBlue Island
  • Zip60406
  • Style
  • Price$ 640,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage8560
  • Lot Size7,874 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property Description

"As-Is" Sale of this multifamily asset at 2421 123rd Street in Blue Island, IL. Brand New Roof finished 11/15/2023, high quality materials used. The property consists of eight apartments. All units are two-bedroom/one-bath. The majority of the property is leased by a corporate entity that has just renewed its master lease agreement. 2421 123rd Street will effectively provide an investor with a stabilized asset featuring eight tenants. Multiple units have been renovated, and additional value can be added through updating the remaining units to collect higher rents. The property has not had any vacancy in the last 16 years. The building is located just north of downtown Blue Island and the Olde Western Avenue Historic District featuring several retail shops and restaurants. 2421 123rd Street is located three blocks from the Blue Island Metra station at the Western Avenue Pace bus stop. This asset is being offered at a 7.72% CAP rate with tremendous cash flow and future upside.

Price History
4/25/2023 Listed $759,000
7/13/2023 3% - $739,000
8/23/2023 4% - $715,000
9/8/2023 4% - $689,000
9/27/2023 5% - $660,000

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 60406

Price
AVG $320K
$640K