Property
West Suburb 12 Unit Portfolio
1700 & 1704 Fillmore St. Broadview, IL 60155
$1,050,000
Pricing/Terms Explained
$87,500 Per Unit
** Buyer's Premium Waived
10
Beds
12
Baths
5,728
Sq. Ft.
1964
Yr. Built
100%
Occupancy
10
Spaces
3
Stories
Boiler
Heat
Paid
Laundry
Street
View
Contract Copy
Buyer's Agreement
Property Summary
Type
Multifamily
In Place NOI
$68,000
Target CAP Rate
6.5%
Today's Market Value
$1,237,000
Target Purchase Price
$1,050,000
Units
12
Projected NOI
$108,700
Market CAP Rate
6%
Value w/Market Rents
$1,900,000
Cost Per Unit
$87,500
Investment Strategy
Purchase at target price with 25% down payment. Upon purchase raise rents to appropriate levels. 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
Freshly refinished 12-unit property in Broadview, IL, split up into (2) 6-unit buildings. The total property consists of (10) one-beds and (2) studios which have had new kitchens, bathrooms and flooring installed throughout. The owner recently replaced the roof and the boilers on each building and the exteriors have been kept in excellent shape. The property is located directly across the road from a newly constructed senior housing complex which opened in 2021. Low in-place rents in this high demand area make it a great opportunity for an investor to drastically increase the value of the building in a relatively short period of time.
About The Neighborhood
Broadview is a small, yet densely populated town just 10 miles west of downtown Chicago. Incorporated in 1914 by German settlers, its largest employers include Mullins Food Products, Perlow Steel and Bosch. Its main commercial district centers around the Broadview Village Square Mall. Overall the town has a dense suburban feel and is home to many young professionals due to its proximity to Chicago.
Due Diligence
Documents
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Rents, expirations, security deposits, balances and more.
Utility expense, services, insurance, taxes, and more.
Who pays what - Landlord Vs. Tenant
Comparable multi family properties that have sold in the area.
Comparable multi family units that have been rented in the area.
Market report showing trends and insights.
Property
Financials
Purchase Price of Property
Property Current
This column shows the current financial state of the subject property. These inputs are factual and they are based on verified information.
Year 2 Pro Forma
This column is based on a stabilized condition of the subject property. These inputs assume proper property performance by using our investment suggestions (proper management, bringing rents up to market rate, vacancy absorption, etc).
Debt Service
This column allows the user to add custom financing scenarios.
Property
Performance
View the return metrics based on various inputs.
"Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs.
Key
Metrics
Year by Year Property Data
Property Value
Remaining Loan Balance
LTV Ratio
Debt Service Coverage Ratio
Cumulative Net Cash Flow
Total Equity (Includes Net Cash Flows)
ROI
Annualized ROI
Equity Multiple
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