Lillie Plaza — Sale in Maywood, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Maywood, IL 60153

Investment Figures

Cap rate
9.41%

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 is pleased to present this 24-unit mixed-use property, located at 901-905 South 5th Avenue and 410-412 School Street in Maywood, Illinois. Built in 1924 and completely gut renovated about 15 years ago, the building is comprised of 14 one-bedroom / one-bathroom units, four two-bedroom units, and two three-bedroom / two-bathroom units, measuring on average, approximately 662, 1,125 and 1,008 square feet, respectively. There are four retail units that measure approximately 1,077 square feet each, on average. The decorative historic building showcases glazed masonry details, original brick and stone features and is fully landscaped. The property features new wood and steel decks and is fully sprinklered throughout. Each renovated unit features laundry hookups, original refinished oak flooring, cherry and maple solid wood cabinets, stainless steel appliances, dishwasher, microwave, granite countertops, ceramic tiling, individual HVAC including air conditioning, fresh paint, new doors and windows. This investment offers an investor the opportunity to acquire a mostly stabilized, well-maintained asset with high cash flow, benefiting from extensive renovations and modifications completed over 15 years of ownership. Investment Highlights: • Value-Add through Increasing Apartment Rents to Market and Leasing Out the Last Remaining Retail Space • Mostly Stabilized, Well-Maintained Asset with High Cash Flow • Completely Gut Rehabbed and Revamped about 15 Years Ago • Fully Sprinklered, A/C and Laundry Hookups in Every Apartment, Rebuilt Steel and Wood Back Porch System • Less than One Mile to Maywood Metra Station

Market Context

This multifamily in Maywood, IL is listed for sale. It is offered at an approximate 9.4% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Maywood, IL — view the full market.

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