Property
West Suburb 6 Unit Multifamily Building
9216 Jill Ln. Schiller Park, IL 60176
$725,000
Pricing/Terms Explained
$120,833 Per Unit
** Inclusive of Buyer's Premium
9
Beds
6
Baths
4,920
Sq. Ft.
1971
Yr. Built
100%
Occupancy
6
Spaces
3
Stories
Boiler
Heat
Paid
Laundry
Street
View
Contract Copy
Buyer's Agreement
Property Summary
Type
Multifamily
In Place NOI
$42,200
Target CAP Rate
5.8%
Today's Market Value
$767,580
Target Purchase Price
$725,000
Units
6
Projected NOI
$61,000
Market CAP Rate
5.5%
Value w/Market Rents
$1,109,000
Cost Per Unit
$120,833
Investment Strategy
Purchase at target price with 20% down payment. Upon purchase raise rents to appropriate levels. 2 Bed market rents go up to $1,300+/Month 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
6 Unit in Schiller Park. VERY good condition property. Kitchens have been updated with modern finishes. Common areas are clean and have been very well maintained. Building has three 2-bedroom apartments and three 1-bedroom apartments. All tenants are separately metered for electric. Owner is responsible for common areas.
About The Neighborhood
Schiller Park is a B+ grade community. It's located next to many of cook county's forest preserves. The municipality has an abundance of restaurants, parks, and businesses. Located close to major interstates and near O'Hare airport, Schiller Park is a great hub for businesses and commerce.
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.
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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