South Suburb 11-Unit Multifamily Property
12248 Gregory St. Blue Island, IL 60406
$88,636 Per Unit
** Buyer's Premium Waived
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Purchase at target price with 25% down payment. Upon purchase raise rents to appropriate levels. 1 Bed market rents are $1,000 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
Strong cash-flowing 11-unit brick apartment building in Blue Island, IL. The building contains (11) 1-bedroom units and is situated across from the Blue Island baseball arena. The boiler is in newer condition and the units have been updated with the strong rents reflecting the solid condition of the building. 11-space dedicated building parking, situated on an ideal, highly visible corner lot makes this a fantastic investment.
About The Neighborhood
Blue Island is a town of 22,500 in southern Cook County, Illinois. It has traditionally been an industrial hub serving Chicago since the late 1800’s but presently has a more diverse economy. It is situated 15 miles south of the Chicago Loop and 8 miles south of Midway International Airport. Moraine Valley Community College has a campus in Blue Island and Dwight D Eisenhower High School serves as the main secondary education institution for the town. Blue Island is home to the well-known Meadows Golf Club.
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