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Property

West Suburb 6 Unit Multifamily Building

9216 Jill Ln. Schiller Park, IL 60176

$725,000

Pricing/Terms Explained 

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$120,833 Per Unit

** Inclusive of Buyer's Premium

9
Beds

6
Baths

4,920
Sq. Ft.

1971
Yr. Built

100%
Occupancy

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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.

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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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