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2241 N Mannheim Road

Melrose Park, IL 60164
  • $1,395,000
  • STATUS: Active
  • ON SITE: 29 Days
  • MLS #: 11293465
$1,395,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1962
County:
Area:

School Ratings & Info

Description

Pleased to offer for sale 2241 N. Manheim Road, a 22-unit multifamily building located in Melrose Park, Illinois. The property configuration affords excellent operational efficiency with 22 dwelling units contained within approximately 16,000 SF of gross building area. All units are Studio apartments with full kitchens and bathrooms. Current ownership has recognized strong historical occupancy by maintaining, "barrier-to-entry" rental pricing within the submarket. The property is heated by a central boiler, individually metered for electricity and master-metered for water and gas. 2241 N. Manheim offers an investor the opportunity to add value through modernization and lease renewal. The property is being offered on an as-is, where-is basis for $1,395,000 ($63,409/unit) and a cap rate of 7.01%, based on forecasted revenue. Please contact George Toscas or Linda Hattar to arrange a property tour.

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© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or @properties. Based on information submitted to the MRED as of 2022-01-22T00:50:12.773 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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2241 N Mannheim Road Melrose Park, IL 60164

  • Price: $1,395,000
  • Status: Active
  • On Site: 29 Days
  • MLS #: 11293465
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1962
Built
Neighborhood:
Melrose Park
County:
Cook
Area:
Melrose Park
Property Description
Pleased to offer for sale 2241 N. Manheim Road, a 22-unit multifamily building located in Melrose Park, Illinois. The property configuration affords excellent operational efficiency with 22 dwelling units contained within approximately 16,000 SF of gross building area. All units are Studio apartments with full kitchens and bathrooms. Current ownership has recognized strong historical occupancy by maintaining, "barrier-to-entry" rental pricing within the submarket. The property is heated by a central boiler, individually metered for electricity and master-metered for water and gas. 2241 N. Manheim offers an investor the opportunity to add value through modernization and lease renewal. The property is being offered on an as-is, where-is basis for $1,395,000 ($63,409/unit) and a cap rate of 7.01%, based on forecasted revenue. Please contact George Toscas or Linda Hattar to arrange a property tour.
Exterior Features

Parking Total 18

Interior Features

Heat Ventilation Hot WaterRadiators

Property Features

Additional Parcels YN No Approximate Age Older Built Before1978 YN Yes Gross Income 0 Gross Scheduled Income 0 Insurance Expense 0 Maintenance Expense 0 Net Operating Income 0 Operating Expense 0 Tax Annual Amount 26050 Tax Year 2020 Tenant Pays Electricity Total Monthly Income 0 Type Multi Family 5+

Listing information © 2022 Midwest Real Estate Data LLC.
Listing provided courtesy of Aco Commercial.


© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or @properties. Based on information submitted to the MRED as of 2022-01-22T00:50:12.773 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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