6 Unit in Grade A+ Suburb
10458 Carol Ct. Rosemont, IL 60018
$103,333 Per Unit
** Inclusive of Buyer's Premium
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Purchase at target price with 25% down payment. Upon purchase rent out 6th unit and raise rents to appropriate levels. 2 Bed market rents are $1,400 in the area. Current seller has been slow and inefficient on rental increases. Refinance and pull cash out based on higher value of the property.
About The Property
Incredible opportunity to own an apartment building in the booming town of Rosemont, IL. This 6-unit brick building features (3) 2-beds and (3) 1-bedroom units and is just steps away from Allstate Arena. Nestled in a large apartment complex, the property is flanked by 10 parking spaces which can be leased out. The owner has taken excellent care of the property. Current rents are at a respectable $69,000 per year with the ability to further raise rents to a market rate of $79,000. A great already cash-flowing, value-add deal in an extremely sought after neighborhood.
About The Neighborhood
Rosemont, IL is a town bordering O'Hare International Airport, directly northwest of Chicago. Despite being relatively small in land area and population (4,200 residents), Rosemont is a major commercial hub in the region with nearly 50 restaurants, 15 hotels and millions of square feet of office space. It is also home to the 16,000 seat Allstate Arena, the 840,000 SF Donald E. Stephens Convention Center and borders River's Casino. Corporations headquartered in Rosemont include US Foods, Riddell, Reyes Holdings, Haribo of America and the Big Ten Conference.
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