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Property

West Suburb 12 Unit Portfolio

1700 & 1704 Fillmore St. Broadview, IL 60155

$1,050,000

Pricing/Terms Explained 

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$87,500 Per Unit

** Buyer's Premium Waived

10
Beds

12
Baths

5,728
Sq. Ft.

1964
Yr. Built

100%
Occupancy

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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
Citipoint conducts a thorough document review on every property. For access to more documents such as leases, inspection reports, warranties, etc please fill out our Document Request Form.

Rents, expirations, security deposits, balances and more.

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Utility expense, services, insurance, taxes, and more.

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Who pays what - Landlord Vs. Tenant

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Comparable multi family properties that have sold in the area.

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Comparable multi family units that have been rented in the area.

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Market report showing trends and insights.

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Locked.

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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