2423 W 123rd St — Sale in Blue Island, IL
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: Blue Island, IL 60406
Photos
Investment Figures
- Cap rate
- 7.82%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap has been selected to exclusively market for sale 2423 123rd Street, a nine-unit multifamily property in Blue Island, Illinois. This investment offers an investor the opportunity to acquire a well-maintained, flexicore construction asset with significant upside in rents, ideally positioned near the Metra station and PACE bus stops, offering strong transit-oriented accessibility. Investment Highlights: • Flexicore Construction • Significant Upside in Rents • Strong Transit-Oriented Location Near Metra Station and PACE Bus Stops • Desirable Unit Mix of Two-Bedroom and Three-Bedroom Units • Upgraded Units include New Bathroom Fixtures, Carpet & A/C Units • Each Unit has Washer & Dryer Hook-Ups
Market Context
This multifamily in Blue Island, IL is listed for sale. It is offered at an approximate 7.8% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Blue Island, IL — view the full market.
As of Q1 2026, the Chicago multifamily market showed average asking rents near $2018.50/unit/mo, and rents up 3.1% year over year. Source: multiple brokerage reports, Q1 2026.
Rising rents point to a competitive market where well-priced, well-located assets trade quickly.
Contact
- Ryan Engle · (630) 570-2230 · ryan.engle@marcusmillichap.com
- Andrean Angelov · (630) 570-2232 · andrean.angelov@marcusmillichap.com
Explore this market
Similar Multifamily Property for Sale in Blue Island, IL
- 13043 S Wood St — Contact for price · Blue Island, IL
- 13507 Seeley Ave — Contact for price · Blue Island, IL