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$ 6,999,970
Est. payment | /mo
49,680 SqFt
$ 6,999,970
Est. payment | /mo
49,680 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 49,680 sqft
Price per Sqft $140
MLS Listing ID 12443014
Maintenance Fees $7,890
Year Built 1978
Annual Tax Amount $56,793
Tax Year 2022
Lot Size 2.420 Acres
Lot Dimensions 217.6X33X90.2X6X88.4X384.3X281.8X383.9
Property Sub-Type Multi Family 5+
Property Description
**Exceptional Investment Opportunity!** This 100% occupied apartment complex offers stable performance, a strong base of long-term tenants, and substantial upside for future income growth. The property consists of two garden-style, two-story buildings totaling 48 units, including 36 two-bedroom apartments and 12 one-bedroom apartments, each with separate utilities. Major capital improvements include a newer roof (2019), new windows, patio doors, siding, gutters, and fascia (2023), along with new front entrance doors (2026). The laundry room has also been completely remodeled and offers the capacity to install six new washers and dryers. Current income does not include any laundry revenue, creating an immediate opportunity to generate an additional income stream once the machines become operational. Additional features include 85 paved parking spaces and excellent potential for a future condominium conversion. With full occupancy, valuable recent improvements, multiple opportunities to increase revenue, and returns that stand out in today's market, this exceptional income-producing asset is truly an investor's dream. Don't miss this rare opportunity to acquire a well-positioned multifamily property with significant growth potential!
Location
State IL
County Mchenry
Area Harmony / Marengo
Zoning MULTI
Rooms
Basement None
Interior
Cooling Window Unit(s)
Fireplace N
Exterior
Roof Type Composition
Building
Dwelling Type Multi Family 5+
Structure Type Brick,Block
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Basel Tarabein of RE/MAX At Home
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